5 Top Weekly TSXV Stocks: Pacton Gold Up on Acquisition

Last Friday (June 22), the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 2.91 points, up 0.39 percent, to close at 758.24.

On the TSX the energy sector followed oil upwards with a new announcement from OPEC, which has agreed to produce more oil.

On the Toronto Venture Exchange, the name of the game in mining this week has been precious metals. With trade war rumblings driving investors into the arms of that which is shiny it shouldn’t come as too much of a surprise. Four of the top five miners are after gold and silver, while the fifth is part of a group of companies that had US$1.3 billion dumped on it.

Here’s the top five gainers this week:

• Armor Minerals (TSXV:A)
• Pacton Gold (TSXV:PAC)
• Golden Dawn Minerals (TSXV:GOM)
• Medgold Resources (TSXV:MED)
• Aurion Resources (TSXV:AU)

Keep reading below for share price details and what these companies have been up to recently.

Armor Minerals

Canadian explorer Armor Minerals enjoyed a hefty jump this week, with the company’s share price on the venture exchange increasing 86.61 percent over the week. The company started on C$0.39 and eventually reached C$0.73, almost doubling its value.

While the small company has not released any news this week, its sister company in the Augusta Group, Arizona Mining (TSX:AZ) was purchased by Australia’s South32 (ASX:S32) for a cool US$1.3 billion, likely helping Armor’s value along. The third company in the group, Titan Mining (TSX:TI) also enjoyed a jump of almost 25 percent over the same period.

Pacton Gold

Gold explorer Pacton Gold has been snapping up land in the Pilbara recently, and is now the third-largest landowner in the mineral-rich region of Western Australia.

It’s enjoyed a healthy run up the charts in value off the back of its acquisitions, and this week it announced more, with the company announcing it would be acquiring the highly prospective Bellary Dome where it said multiple gold nuggets had been discovered.

With that news, the company’s share price rose 36.54 percent over the week to C$0.71.

Golden Dawn Minerals

Canadian gold miner Golden Dawn Minerals has operating mines across British Columbia and Washington state.

While there was no news this week, earlier this month it released news on continued progress at its Greenwood precious metals project and the Lexington mine. Its most recent news was a release detailing sample results from Lexington, with ‘potentially economic grades’ of gold-copper mineralization.

Golden Dawn’s share price increased by 35.14 percent over the week, going from C$0.19 to C$0.25.

Medgold Resources

Explorer Medgold Resources has two projects underway in Serbia, where unsurprisingly it’s drilling for gold.

The company started the week positively by releasing news on its Tlamino project, where it reported positive sample results from drilling funded by option agreement partner Fortuna Silver Mines (TSX:FVI).

With highlights of 284 grams per tonne of silver reported, Medgold’s share price jumped 23.08 percent from C$0.38 to C$0.48 over the week.

Aurion Resources

Canadian explorer Aurion Resources pulled on its best hiking boots and set off on its summer exploration program at its project areas in northern Finland, and investors clearly followed them out into the woods after hearing about its recent gold discoveries.

According to its Thursday (June 21) release, 53 chip samples at its returned an average grade of 18.6 grams per tonne of gold, with more assays pending.

The company’s share price rose by 17.33 percent over the week, from C$0.7 to C$0.88.

Data for 5 Top 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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Pacton Gold is a client of the Investing News Network. This article is not paid-for content.