Which TSXV-listed junior gold stocks have performed the best so far this year? Our list includes the five biggest gainers.
Earlier this week, the Investing News Network published the 5 best stocks on the TSX year-to-date, and now we turn our attention to the junior mining side: the TSX Venture Exchange.
While the gold price has had a bit of an up-and-down year, a number of gold stocks on the S&P/TSX Venture Composite Index (INDEXTSI:JX) have still been performing well. The list was compiled using The Globe and Mail’s market data filter, and does not include companies with a market cap of less than $10 million.
Read on below to find out more about these companies.
1. Rupert Resources (TSXV:RUP)
Current price: $0.70; year-to-date gain: 2,233.33 percent
First on the top TSXV stocks is Rupert Resources, who now owns a 100 percent interest of the Pahtavaara gold mine in Finland. According to the company’s website, the deposit was first discovered in 1986 and started mining in 1996. Over the last 20 years, the mine has produced 350,000 ounces of gold.
On November 9, Rupert Resources announced it had fully completed the acquisition of the Pahtavaara gold mine for $2.5 million. In the press release, the company stated that it had undertaken a drilling and exploration back in September.
2. Resource Capital Gold (TSXV:RCG)
Current share price: $0.225; year-to-date gain: 800 percent
Resource Capital Gold has a number of late stage exploration, development and producing gold and silver assets in North America. In particular, the company has a portfolio of gold projects in Nova Scotia, including the Dufferin, Old Dufferin, Forrest Hill and Tangier projects, with over 500,000 ounces of consolidated high-grade gold deposits.
In other news, Resource Capital announced at the end of November the completion of a preliminary economic assessment (PEA) on the Dufferin Gold Mine and West Dufferin property, showing production of 216,050 ounces of gold during a 10-year mine life.
3. Cornerstone Capital Resources (TSXV:CGP)
Current price: $0.165; year-to-date-gain: 725 percent
Middle of the pack on the TSXV’s 5 top gaining gold stocks for 2016 is Cornerstone Capital Resources, who has a portfolio of gold, silver and copper exploration projects in Chile and Ecuador.
In particular, the company’s Miocene project in Chile targets epithermal gold-silver as well as porphyry gold-copper deposits. The company has been exploring in Ecuador for over a decade, through its wholly-owned subsidiary, Cornerstone Ecuador S.A. The company has five mineral properties in Ecuador, also targeting epithermal gold-silver and porphyry copper-gold deposits.
4. Coral Gold Resources (TSXV:CLH)
Current price: $0.30; year-to-date gain: 400 percent
Coral Gold is in the process of turning its attention back to gold exploration in Nevada, with a focus on the Battle Mountain Gold trend. As its stands, the company is involved in four projects: the Robertson, Norma Sass, JDN and Eagle–the latter three of which are 100 percent owned by Coral Gold.
5. Brazil Resources (TSXV:BRI)
Current price: $2.13; year-to-date gain: 373.33 percent
Last but not least is Brazil Resources. Currently, the company is in the process of developing gold projects in the Americas. This includes its Cachoeira and Sao Jorge gold projects in Brazil and its Whistler gold-copper project in Alaska. Other projects include the Rea uranium project in the Athabasca Basin in Saskatchewan.
The company’s two biggest projects are,however the Sao Jorge project and the Cachoeira project. The Sao Jorge has an indicated mineral resource estimate of 715,000 ounces of gold, while the Cachoeira has an estimated 786,737 ounces of gold.
Most recently, Brazil Resources announced the completion of a final tranche of $12.4 million.
That said, with a month to go until 2017, there’s still plenty of time for this list to change — especially considering the US Federal Reserve may raise interest rates at its upcoming December meeting. Investors will no doubt be watching these companies and others in the gold space for developments.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.