5 Top Weekly TSXV Stocks: Diamond Fields Up

Gem Investing

The biggest gainers on the TSXV last week were Diamond Fields, Azimut, Solstice, Vanstar and Galway, with four of the five focused on gold.

At the end of trading last week, the S&P/TSX Venture Composite Index (INDEXTSI:JX) was slightly down, 0.98 points below its opening level on Thursday (April 18) at 609.07.

Political news last week was dominated by the lead up to the Mueller report in the US, while in commodities, Barrick Gold (TSX:ABX,NYSE:GOLD) posted some positive news and the Section 232 uranium report was turned over to US President Donald Trump.

Gold was flat last week, while zinc and copper were under pressure due to a rising US dollar.

Keeping all that in mind, the Investing News Network took a look at the TSXV to see how junior miners were faring. Here are the top five gainers for last week:

  • Diamond Fields Resources (TSXV:DFR)
  • Azimut Exploration (TSXV:AZM)
  • Solstice Gold (TSXV:SGC)
  • Vanstar Mining Resources (TSXV:VSR)
  • Galway Metals (TSXV:GWM)

Read on to find out more about each company and what it has been up to lately.

Diamond Fields Resources

Diamond Fields is a junior with assets in Madagascar and Namibia, and although it has diamond in its name, its primary focus is on its Beravina zircon project in Madagascar. The company also has exposure to an offshore diamond mining project in Namibia.

The company’s most recent news is all about diamonds, however; Diamond Fields reported on March 15 its first sale of diamonds from its Namibia project, which netted proceeds of US$1.1 million for the company. The sale also included a 5.71 carat pink diamond that sold for US$97,076.

While there hasn’t been any news released more recently than that, Diamond Fields was up by 55 percent, trading at C$0.15 on the TSXV on Thursday.

Azimut Exploration

Mineral explorer Azimut holds a major precious and base metals portfolio in Quebec, including a number of copper, gold, nickel, cobalt and rare earths prospects dotted through the Nunavik region in the northern reaches of the province.

On April 15, the company identified “strong electromagnetic conductors” on its Pikwa property in the James Bay region of Quebec, which it claims has gold and copper potential.

On the TSXV, Azimut’s shares were up by 32.43 percent last week, hitting C$0.49 by Thursday.

Solstice Gold

Solstice Gold is focused on its Kahuna gold project, which covers 920 square kilometers in Nunavut. Solstice also owns secondary rights to an adjacent 805 square kilometers.

The year has been quiet so far for the company; its only news came in mid-March, when it received all the permits needed to conduct exploration at Kahuna, including up to 20,000 meters of drilling across 75 to 100 holes, plus geophysics and rock and soil sampling.

In Toronto, Solstice was up 30 percent by Thursday, trading at C$0.26.

Vanstar Mining Resources

Vanstar is a gold-focused company with a primary focus on the Nelligan gold project in Northern Quebec.

Vanstar owns 49 percent of Nelligan, with the rest owned by major miner IAMGOLD (TSX:IMG,NYSE:IAG), which has an earn-in agreement with the company.

In January, IAMGOLD reported positive results from its 2018 drilling program at Nelligan. Vanstar released an update in March on management of the project; it appears that IAMGOLD could acquire a larger share.

Last week, Vanstar’s shares were up by 27.78 percent, reaching C$0.23 by Thursday.

Galway Metals

Despite the name, Galway is focused on gold exploration in Canada.

Last Thursday, the company announced the intersection of 2.8 grams per tonne gold over 21 meters at its Clarence Stream project.

In Toronto, Galway was up by 26.92 percent to C$0.33 by the end of the trading week.

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$10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.

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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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