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5 Top Weekly TSXV Performers: Gold Explorers Bolstered by Market Positivity
Last week's top-gaining mining stocks on the TSXV were Gold Terra Resources, Adex Mining, Eskay Mining, Northern Graphite and Metallic Minerals.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) broke past the 1,000-point mark last week, hitting a six-month high of 1,013.69 shortly after markets opened Friday (November 12).
Tailwinds from the energy sector and a rising gold price, which breached the US$1,850 per ounce level for the first time in three months, pushed mining stocks higher on both indexes.
Last week's five TSXV-listed mining stocks that saw the biggest gains are as follows:
- Gold Terra Resources (TSXV:YGT)
- Adex Mining (TSXV:ADE)
- Eskay Mining (TSXV:ESK)
- Northern Graphite (TSXV:NGC)
- Metallic Minerals (TSXV:MMG)
Here's a look at what may have moved their share prices during the period.
1. Gold Terra Resources
Junior gold exploration company Gold Terra is expanding and delineating gold resources at its Yellowknife City gold project in Northwest Territories.
The last news the explorer released was a mid-October statement highlighting assay results from two holes included in an ongoing drill program. The 10,000 meter Phase 2 drilling program is being conducted at the company's optioned property, which is adjacent to its Yellowknife City project.
Highlights of the results included "5.07 grams per tonne (g/t) over 8.35 meters including 11.87 g/t gold over 3.08 meters in a strongly strained and sericitized portion of the Campbell Shear."
Gold Terra shares were up 53.25 percent for the five-day period, trading at C$0.26 on Friday.
2. Adex Mining
Exploration company Adex is developing the Mount Pleasant Mine property in New Brunswick. The site houses two distinct deposits: the Fire Tower Zone, which hosts a significant molybdenum and tungsten resource; and the North Zone, which contains the world's largest indium reserve, and one of North America's largest tin resources.
Adex has not released any company news for quite some time.
Company shares rose 50.58 percent for the second week of November, ending the session at C$0.015.
3. Eskay Mining
Focused on the Golden Triangle region of British Columbia, Eskay Mining is a diversified exploration and development company. The firm's flagship ESKAY-Corey property is comprised of several gold-silver volcanogenic massive sulphide deposits, as well as gabbro-hosted magmatic nickel-copper-platinum group metals.
On Thursday (November 11), Eskay released an amended cost sharing agreement with Seabridge Gold (TSX:SEA) regarding the construction of the Coulter Creek Access Road (CCAR). The new agreement will see both companies equally share the costs for the first 9 kilometers or first segment of the CCAR with an estimated cost of C$12.5 million.
"Once the first segment of the CCAR is complete, we will have use of the first segment of the CCAR for a minimum of 15 years pursuant to a road access agreement subject to payment of our pro rata share of maintenance costs," Mac Balkam, president and CEO of Eskay, said in the statement.
Shares of Eskay rose 47.79 by Friday and ended the week at C$3.35.
4. Northern Graphite
Mineral development and technology company Northern Graphite is focused on advancing its Bissett Creek graphite deposit located in Ontario.
The company is also working to upgrade mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies.
In a statement released on Thursday, the firm said battery anode material manufactured from its Bissett Creek concentrates demonstrated excellent electrochemical performance during recent battery testing by ProGraphite in Germany.
"Testing showed that Northern's anode material can be charged to high values which remain stable with high Coulomb efficiency under various discharge conditions," the press release read. "ProGraphite concluded that Northern's anode material is very well suited for the manufacture of high capacity, durable, long-life lithium-ion batteries."
The news sent share prices 46.24 percent higher to end the week at C$0.79.
5. Metallic Minerals
Precious metals exploration company Metallic Minerals is focused on high-grade silver and gold in under-explored brownfields mining districts.
Its flagship Keno Hill silver district project and McKay Hill project are both located in the Yukon within the same belt of silver-lead-zinc. Metallic Minerals also solely owns the La Plata silver-gold-copper district property situated in Colorado.
The last news the company released was in July, when it updated shareholders on the progress at its alluvial gold operations in the Yukon. Metallic Minerals currently has leases on four alluvial claim blocks on Australia Creek and Dominion Creek.
All four properties are at the development stage with exploration, infrastructure development and bulk sample testing being completed.
Shares of Metallic Minerals climbed 46.36 percent by week's end, closing the period at C$0.54.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 11:00 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Originally from Calgary, Georgia has been right at home in Toronto for more than two decades. Graduating from the University of Toronto with an honors BA in journalism, she is passionate about writing on diverse topics, including resources, arts, politics and social issues.
At INN Georgia covers a wide range of topics, including energy, battery and critical metals and diamonds. In her spare time, Georgia enjoys watching documentaries and experiencing Toronto's vibrant food, arts and cultural scene.
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