Last week’s top-gaining mining stocks on the TSXV were IsoEnergy, ALX Resources, Standard Uranium, Kiplin Metals and GoviEx Uranium.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, opening at 893.19 and finishing on Friday (September 3) at 923.99.
A weaker-than-expected jobs report out of the US proved beneficial for the gold price during the period.
Meanwhile, uranium stocks on the TSXV were on the rise last week after the commodity reached its highest level since 2015, with futures trading above the US$38 per pound level.
Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:
- IsoEnergy (TSXV:ISO)
- ALX Resources (TSXV:AL)
- Standard Uranium (TSXV:STND)
- Kiplin Metals (TSXV:KIP)
- GoviEx Uranium (TSXV:GXU)
Here’s a look at those companies and the factors that moved their share prices last week.
IsoEnergy is a uranium exploration and development company focused on the eastern part of Saskatchewan’s Athabasca Basin. In total it has 24 assets covering over 241,000 hectares, with its highest-priority properties being Larocque East, Geiger, Thorburn Lake and Radio.
Last Friday, IsoEnergy announced the start of drilling at Larocque East, which is home to the Hurricane zone high-grade uranium deposit; the company also recently completed drilling at Geiger. Its share price jumped 55.64 percent last week to close at C$4.
2. ALX Resources
ALX Resources has a far-reaching portfolio, with exposure to mineral properties that are prospective for commodities including gold, nickel, copper and uranium. It has honed its efforts on Canada, with interests in more than 200,000 hectares of land in Saskatchewan and Ontario.
There was no fresh news from ALX last week, but its share price rose 54.55 percent to hit C$0.09.
3. Standard Uranium
Explorer Standard Uranium’s goal is to identify and develop uranium properties in the Athabasca Basin. Its main asset, Davidson River, is located in the southwest area of the basin, and is made up of 21 mineral claims covering 25,886 hectares. According to the company, it is prospective for basement-hosted uranium deposits yet remains relatively untested by drilling.
Standard Uranium didn’t release any news last week, but shares finished at C$0.41, up 49.09 percent.
4. Kiplin Metals
Kiplin Metals has an option to acquire the Quebec-based Exxeter project, which is comprised of 13 map-designated mineral claims covering about 748 hectares. The asset is located in the province’s Val d’Or area, a premier gold camp.
Last week didn’t bring any news from Kiplin, but the company leaped 47.27 percent, closing at C$0.81.
5. GoviEx Uranium
GoviEx Uranium is exploring and developing uranium properties in Africa with the goal of becoming a significant producer. Its main projects are Madaouela in Niger and its mine-permitted Mutanga asset in Zambia; the company also holds other uranium properties elsewhere on the continent.
Last week, GoviEx announced the appointment of Isabel Vilela as head of investor relations and corporate communications. but aside from that it didn’t share any news. The company’s share price went up 46.94 percent during the period to wrap up the week at C$0.36.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: ALX Resources and Standard Uranium are clients of the Investing News Network. This article is not paid-for content.