Last week’s top-gaining mining stocks on the TSXV were Sintana Energy, Alpha Lithium, East Africa Metals, Solstice Gold and Argentina Lithium & Energy.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended down last week, opening at 906.98 and closing on Friday (September 17) at 886.93.
Canada is gearing up for a federal election, set to take place this coming Monday (September 20). Projections indicate that the race may be tight between the Liberals, led by current Prime Minister Justin Trudeau, and the Conservatives, helmed by Erin O’Toole.
Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:
- Sintana Energy (TSXV:SEI)
- Alpha Lithium (TSXV:ALLI)
- East Africa Metals (TSXV:EAM)
- Solstice Gold (TSXV:SGC)
- Argentina Lithium & Energy (TSXV:LIT)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Sintana Energy
Oil and gas explorer Sintana Energy has a portfolio of assets in the VMM-37 block of Colombia’s Magdalena Basin. The company’s share price jumped 116.67 percent last week to end at C$0.13.
Last Wednesday (September 15), Sintana entered into a definitive deal with Grisham Assets, a private company owned by Knowledge Katti, to acquire a 49 percent stake in Inter Oil, another private company. Sintana will gain access to a strategic portfolio of petroleum exploration license interests in Namibia.
2. Alpha Lithium
Alpha Lithium is focused on the development of the Tolillar and Hombre Muerto salars in the Argentina section of lithium triangle. According to the company, it has 100 percent ownership of the Tolillar salar.
There was no fresh news from Alpha Lithium last week, but shares rose 52.58 percent to close at C$0.74.
3. East Africa Metals
Project generator East Africa Metals has honed its efforts on discovering, exploring and developing mineral properties in Africa. Its current main projects include three Ethiopian polymetallic mining licences and two Tanzanian gold licences.
Last Monday (September 13), East Africa Metals received the first reconciliation calculation from PMM Mining Company for the Magambazi transaction; according to the company, its share of tailings production came to 160 ounces for projected net revenues of about US$275,000. East Africa Metals’ share price increased 44.83 percent last week to end at C$0.42.
4. Solstice Gold
Solstice Gold describes itself as a gold-focused explorer with high-quality assets in top-tier jurisdictions.
Last Wednesday, the company revealed a “transformative acquisition” whereby it will purchase a portfolio of royalty and property interests in Ontario and Quebec from vendors including prospector Perry English. Solstice will pay a cash purchase price of C$3.8 million and 400,000 common shares of Solstice to execute the transaction. Aside from that, the company announced the appointment of Mike Timmins to its board of directors. Its share price went up 40 percent last week to end at C$0.14.
5. Argentina Lithium & Energy
As its name suggests, Argentina Lithium & Energy’s focus is on acquiring and advancing high-quality lithium projects in Argentina. The company is a member of the Grosso Group, a resource management firm with decades of experience in Argentina.
Last week didn’t bring any news from Argentina Lithium, but shares rose 37.84 percent to hit C$0.26.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Alpha Lithium is a client of the Investing News Network. This article is not paid-for content.