Which TSXV-listed junior gold stocks have performed the best so far this year? Our list includes the five biggest gainers.
While the first half of Q2 brought relatively flat gold prices, the yellow metal made huge gains in the second half and is up over 9.5 percent for the quarter.
Thanks to investor interest returning to the yellow metal space, several junior gold stocks managed to make progress at their assets. Now that Q2 has come to a close, the Investing News Network has rounded up the junior gold stocks on the TSXV that have seen the biggest share price gains year-to-date.
The list below was generated on July 5, 2019 using TradingView’s stock screener. All companies listed had market caps above C$10 million at that time.
1. GoldON Resources (TSXV:GLD)
Current share price: C$0.79; year-to-date gain: 532 percent
GoldON Resources is a mineral exploration company that focuses on acquiring projects in mining-friendly jurisdictions and the prolific mining districts of Northwestern Ontario.
On May 28, the miner signed a definitive agreement with Great Bear Resources (TSXV:GBR,OTCQB:GTBDF), wherein GoldON has the option to earn an initial 60 percent interest and a subsequent 100 percent interest in Great Bear’s West Madsen gold property.
At the end of the second quarter, the company reported assay results from a 2019 sampling program at its Slate Falls gold-silver property. President Michael Romanik described the results as encouraging and said the company will report more as they come in.
2. Amex Exploration (TSXV:AMX)
Current share price: C$0.84; year-to-date gain: 300 percent
Focused on gold and base metals, Amex Exploration owns the Perron gold and base metals project, the Eastmain River gold properties and the Lebel-sur-Quévillon gold project. The company also holds an option to acquire 100 percent of the Gowan polymetallic property.
On May 23, the miner began trading on the OTCQX exchange under the symbol AMXEF.
“Trading on the OTCQX Market is an important milestone as it provides US investors with a pathway to invest and participate in the Amex Exploration story,” commented Victor Cantore, president and CEO.
At the beginning of June, Amex reported positive drill results at it Perron asset, revealing that it found 32.22 grams per tonne gold over 5.9 meters, including 374.06 grams per tonne gold over 0.5 meters.
3. KORE Mining (TSXV:KORE)
Current share price: C$0.28; year-to-date gain: 211.11 percent
KORE Mining is focused on properties in North America. It holds the development-stage Imperial and Long Valley gold projects in California and the BC-based FG gold and Gold Creek assets, which are at the exploration stage.
On May 23, KORE announced the closing of a US$4.3 million strategic investment with Macquarie Bank (ASX:MQG). Macquarie subscribed to 6,000,000 common shares of KORE and acquired a 1 percent net smelter return royalty on the Imperial project. The miner plans to use the funds for the advancement of permitting for Imperial and on other existing operations.
“We welcome this strategic investment from Macquarie, one of the world’s major resource investors, as we continue to advance and de-risk the Imperial project,” Adrian Rothwell, president and CEO of KORE, stated back when the deal was first announced.
4. Walker River Resources (TSXV:WRR)
Current share price: C$0.18; year-to-date gain: 191.67 percent
Walker River Resources is a junior mining company that focuses on high-grade underground mines in the Nevada area. The miner’s flagship asset is the Lapon Canyon project, which exhibits potential for high-grade vein type gold mineralization.
While Walker River did not release any new during the second quarter of this year, towards the end of Q1, the miner announced that it signed a letter of intent with Smooth Rock Ventures (TSXV:SOCK) to enter into an exploration agreement with the option to form a joint venture on the Garfield Flats project, located in Mineral County, Nevada.
5. Goldsource Mines (TSXV:GXS)
Current share price: C$0.13; year-to-date gain: 188.89 percent
Goldsource Mines, which returns to our list again this quarter, is currently in the proof of concept phase at its Eagle Mountain gold project, located in Guyana. The miner’s immediate focus is to drill to a minimum of 600,000 ounces of gold, grading 1 to 1.5 grams per tonne, via expansion and infill drilling, with two core rigs purchased and currently active.
At the beginning of Q2, Goldsource raised C$7,479,600 via a brokered private placement. In addition to general corporate purposes, proceeds from the deal will go towards drill testing extensions of the recent high-grade Salbora discovery, creating an updated resource and continuing a prefeasibility study.
On May 21, the miner reported a drilling update at its Salbora discovery, stating that it has now completed 11 diamond core holes (1,423 meters), 14 sonic shallow core holes (161 meters), 113 shallow auger drill holes (436 meters) and 11 horizontal and vertical trenches (928 meters) at the asset. Results from drilling have yet to be announced.
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Securities Disclosure: I, Nicole Rashotte, currently hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Great Bear Resources is a client of the Investing News Network. This article is not paid-for content.