5 Top Weekly TSXV Stocks: Goldcliff Soars on Digital Currency Plans

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed up 5.34 points last Friday (December 8), ending the week at 792.96 points. 
Oil prices moved higher during mid-morning trading on Friday, with the January crude contract up 72 cents, at $57.41 per barrel. The January natural gas contract gained $0.03 to reach $2.79 per mmBTU.
Meanwhile, the March copper contract gained a cent to hit $2.97 per pound, and the February gold contract was down $2.60, at $1,250.50 an ounce.

• Goldcliff Resource (TSXV:GCN)
• Garibaldi Resources (TSXV:GGI)
• MacDonald Mines Exploration (TSXV:BMK)
• Metallis Resources (TSXV:MTS)
• Canyon Copper (TSXV:CNC)

Read on for a brief overview of those companies and what moved their share prices last week.

1. Goldcliff Resource

Goldcliff Resource is moving forward at its 40-percent-owned Pine gold project in Nevada. Last Thursday (December 7), the company announced plans to introduce a digital currency based on gold.
The company will complete an initial coin offering (ICO), and will use its stake in Pine as an initial source of gold for the ICO. Its plan will also involve DirectRoyalty, an online crowdsourcing platform that allows investors to purchase fractional interests in precious metals royalties, streams and advance sale arrangements. Goldcliff’s share price rose 154.55 percent on the back of the news to close at $0.42.

2. Garibaldi Resources

On Wednesday (December 6) and Friday last week, Garibaldi Resources released drill results from a nickel-copper sulfide discovery at its Nickel Mountain project, located near Eskay Creek. The company saw its share price rise 61.09 percent to close at $4.14 last week.
In Friday’s release, Dr. Peter Lightfoot, a technical advisor at the company and a nickel sulfide expert, commented, “data for EL-17-14 point to a discovery of outstanding quality with a very pure style of sulphide mineralization that has optimal process technology characteristics.”

3. Macdonald Mines Exploration

MacDonald Mines Exploration released two news items last week. On Tuesday, it received gold and silver assays for 59 sonic boreholes completed at the oxide sands trend at its Wawa-Holdsworth project.
Then, on Thursday, it said that the sonic drill program had “discovered gold and silver in the bedrock underneath the Oxide Sands formation at its Wawa-Holdsworth Project.” The firm’s share price rose 41.18 percent over the course of last week to close at $0.11.

4. Metallis Resources

Metallis Resources’ share price rose 36.84 percent last week to close at $1.87. The company’s latest news came on December 1, when it appointed mineral exploration specialist Abdul Razique as chief geologist; he will oversee and lead the company’s expanded programs at its Kirkham property in BC’s Golden Triangle.

5. Canyon Copper

Canyon Copper owns a number of projects in Canada and the US. Last week, its share price rose 30.77 percent over the week to close at $0.16.
On Thursday, the firm announced a non-brokered private placement of up to 5,000,000 flow-through units priced at $0.20 each for gross proceeds of $1 million. The company intends to use the proceeds for a drill program at its Bootleg gold and base metals project, and for 2018 field work at its three cobalt projects in Ontario. The firm expects the offer to close on or before December 31, 2017.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canyon Copper is a client of the Investing News Network. This article is not paid-for content.