Last week’s top TSXV gainers list was dominated by gold again, with Rusoro Mining, Mineral Mountain Resources, Maple Gold Mines and Golden Ridge Resources topping the list, and cobalt company Canada Cobalt Works rounding out the top five.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up slightly on Friday (October 12), rising by 4.76, or 0.69 percent, to 696.22.
Last week, gold dominated the top gainers on the TSXV yet again, despite gold having a mild retreat from its highest weekly gain in seven weeks.
The Investing News Network (INN) featured a boon of gold stories this week, thanks to the Denver Gold Forum, giving insight on why investors are so interested in the precious metal.
Without further ado, here the Investing News Network takes a look at how junior miners were faring on the TSXV last week. Below are the top five gainers.
- Rusoro Mining (TSXV:RML)
- Mineral Mountain Resources (TSXV:MMV)
- Maple Gold Mines (TSXV:MGM)
- Golden Ridge Resources (TSXV:GLDN)
- Canada Cobalt Works (TSXV:CCW)
Rusoro is a Canadian miner that ran into a spot of trouble in 2012, after the Venezuelan government nationalized its assets in the Bolivarian republic, which included two operating mines and ten exploration projects.
It received good news this week on October 11, when Caracas agreed to pay it US$1.28 billion to access the miner’s data on its projects. It’s now looking to enter into a partnership with the government to restart production at the mines.
On the TSXV, the markets reacted strongly to the news, with Rusoro’s share price skyrocketing by 164.71 percent to C$0.225, up from a paltry C$0.08 the week before.
Mineral Mountain Resources
Describing itself as an advanced-stage explorer with interests in politically-, mining- and financially-friendly regions of the United States, Mineral Mountain Resources highlights the Rochford gold project in South Dakota as its jewel in the crown.
While it released no new news this week, the company is riding what appears to be a revitalization of the gold sector, with its last release being an update on its drill program at Rochford on October 1.
The company’s share price increased by 111.76 percent since Monday (October 8), so clearly Mineral Mountain Resources is sitting on a project of profound interest to investors. At midday PST on Friday (October 12), its shares were valued at C$0.18.
Maple Gold Mines
A gold explorer, Maple Gold Mines sits on its 377 square km Douay gold project in Quebec as its prize asset, which according to its work so far contains some 479,000 ounces of gold in the indicated category.
Douay was the subject of a general corporate update released on Thursday (October 11), detailing a regional mapping and sampling program on the project. The company said that so far in 2018, it has completed 22,593 metres of drilling as part of this years program.
On the TSXV, the company’s share price was up 36.84 percent to C$0.13 on Friday.
Golden Ridge Resources
Continuing a trend from last week, the TSXV is all about gold. The fourth company on this week’s list is Golden Ridge Resources, which unsurprisingly, is focused on gold.
The company has two gold projects on the go, and a third cobalt–zinc project that’s optioned put. Its flagship, the Hank gold-silver project in British Columbia is the focus of its efforts.
No releases this month, but its most recent release was about copper-gold mineralization detected through its drilling program at the Hank project.
In Toronto, Golden Ridge was valued at C$0.27, up 35 percent over the week.
Canada Cobalt Works
In a the customary break from gold, closing out this week’s list of top gainers is Canada Cobalt Works, which is focused on acquiring and redeveloping past-producing properties in pro-mining jurisdictions, namely Ontario.
While the company released no news this week, in a September video published by Cobalt Stock Report, Canada Cobalt Works President and CEO Frank Basa spoke about the exploration potential in the region. He spoke of the company’s position in Ontario’s Cobalt camp, where he said CCW is the only company to have an open adit as well as access to ore.
On the TSXV, Canada Cobalt Works ended the week up 29.79 percent to C$0.61 by Friday.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using tradingview.com. Only companies with a market capitalization greater than $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.
Editorial Disclosure: Canada Cobalt Works is a client of the Investing News Network. This article is not paid-for content.