Best Junior Gold Stocks of 2020 on the TSXV

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Gold has been a top performer for the last three months, adding almost 10 percent to its value during the second quarter of the year. 

Gaining more than 15 percent since January, the yellow metal has topped its seven year high and still has room to grow, according to analysts.

Because 2020 continues to be marked with uncertainty and the promise of volatility, many investors have opted for physical gold as both a safe haven and a hedge against inflation.

Best junior gold stocks to watch

With every price uptick and surge in demand, the value of gold explorers also increases, as does interest in the sector’s junior miners.

Despite unprecedented setbacks and disruptions, a number of explorers and developers have been able to grow their share prices in the face of COVID-19. The Investing News Network has rounded up the five best junior gold stocks on the TSXV with the biggest share price gains year-to-date.

The list below was generated on July 6, 2020, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.

1. Arbor Metals (TSXV:ABR)

Year-to-date gain: 2,233.3 percent; current share price: C$1

Q2’s largest gainer is a gold company focused on discovery-stage properties. Arbor Metals is currently developing the Rakounga gold concession in Burkina Faso.

In early May, the company completed the budget for a work program scheduled for Rakounga. In the announcement, the explorer said it did not expect delays despite “current market conditions.”

A subsequent press release reported that a field crew had been selected to commence the work program at the West African site.

2. Omenica Mining and Metals (TSXV:OMM)

Year-to-date gain: 1,053.5 percent; current share price: C$0.69

Omenica Mining’s flagship project — Wingdam — is located in Barkerville, BC; the company also operates the Fraser Canyon project. Both assets are owned through its subsidiary CVG Mining.

In April, the explorer initiated a private placement to fund drilling at Wingdam. A June 10 announcement reported the completion of the oversubscribed financing, as well as the beginning of field work.

According to Omenica, 2020 exploration will include mapping, sampling, morphological and geochemical analysis, and the drilling of 27 core holes for a combined 8,000 meters.

3. First Mexican Gold (TSXV:FMG)

Year-to-date gain: 690.7 percent; current share price: C$0.39

First Mexican Gold is currently in a state of flux as it transitions its name to QcX Gold. The new moniker will also come with a fresh focus, as the company recently acquired the Fernet property.

Located in Quebec’s Abitibi region, the new site is adjacent to the Fenelon project owned by Wallbridge Mining Company (TSX:WM).

“We jumped at the opportunity to purchase the Fernet project given its proximity to Wallbridge Mining, which has enjoyed tremendous drilling success, and given the excellent underlying geology of Fernet,” said Albert Contardi, interim CEO.

First Mexican’s ticker symbol will change to QCX on the TSXV, effective July 8, 2020.

4. Benz Mining (TSXV:BZ)

Year-to-date gain: 662 percent; current share price: C$0.49

It has also been a busy quarter for Benz Mining. The Quebec-focused explorer consolidated its land position around its Eastmain project by acquiring options on nearby properties in late April.

At the beginning of June, the company completed a C$3.6 million private placement. Later in the month, an exploration project began at the Eastmain gold site.

“With C$5.5 million in our treasury, Benz is well funded to carry out an aggressive drill campaign and exploration program at the Eastmain project this year,” said Miloje Vicentijevic, president and CEO.

The company anticipates the drill results will be ready during the fourth quarter.

5. Aztec Minerals (TSXV:AZT)

Year-to-date gain: 391.9 percent; current share price: C$0.39 

Diversified junior Aztec Minerals is currently developing several gold, silver, zinc, lead and copper projects in Arizona and Mexico.

The firm’s primary focus is the prospective Cervantes gold and copper property in Sonora, Mexico. However, in early June Aztec announced it would prioritize drilling at the Tombstone silver district in Arizona. According to the company, the area is a well-known silver, gold, zinc, lead and copper district with a long history of mining.

“Now the silver price is back above US$18 per ounce, it is a great time to own an historic silver mining district!” CEO, President and Chief Geologist Joey Wilkins said.

He added, “Aztec has generated several exciting new targets at Tombstone over the past three years through its systematic exploration programs as well as methodical evaluation of historic exploration and production results.”

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