5 Top Weekly TSXV Stocks: Evrim Resources Up on Drill Results

Canada’s indexes closed last week fairly flat, with the S&P/TSX Venture Composite Index (INDEXTSI:JX) up 15.86 points, or 0.1 percent, at 15,470.28.

Oil prices dipped after US President Donald Trump tweeted about “artificially” high prices from OPEC, but were still in line to end higher than the previous week. Trump gave no indications about what the US might do about oil prices.

In Canada, miners saw increases as high as 50 percent. Here are the five biggest gainers last week on the TSXV:

• Namibia Rare Earths (TSXV:NRE)
• Evrim Resources (TSXV:EVM)
• NV Gold (TSXV:NVX)
• Carmax Mining (TSXV:CUX)
• Oroco Resource (TSXV:OCO)

Namibia Rare Earths

Investor interest has prompted Namibia Rare Earths to increase a previously announced private placement from a maximum of C$3 million to C$4 million as reported in a press release on April 19.

According to the company, the proceeds of the private placement “will be used primarily to fund continued exploration on the Kunene cobalt–copper project (in north-eastern Namibia) and for preliminary evaluations and metallurgical studies of other projects.”

Over the five-day period, Namibia Rare Earths’ share price jumped 54.29 percent to close at C$0.26.

Evrim Resources

Evrim Resources announced additional exploration results on April 16 from a phase-two exploration program at its Cuale high-sulfidation epithermal gold project in Jalisco, Mexico. According to the company, highlights from one of the additional trenches include 13.61 grams per tonne gold over 106.2 meters from 29.4 meters along the trench.

Evrim Resources’ share price increased 58.64 percent to C$1.38 over the week.

NV Gold

NV Gold is pushing forward with more drilling at its Across the Valley gold project in Northern Nevada. The company revealed details in a press release earlier in April, where it announced the completion of a drilling program and future plans.

NV Gold’s share price increased 43.48 percent to close the week at C$0.66.

Carmax Mining

Carmax Mining is focused on exploring and developing copper, gold and silver properties with the potential to host world-class deposits. Carmax owns the Eaglehead copper-gold-molybdenum-silver porphyry project located in Northern BC, as well as a 50-percent interest in the Whiskeyjack Creek gold project in Northern Ontario. Carmax appointed a new chief operating officer on April 19.

The company’s share price went up 25.93 percent to close the week at C$0.17.

Oroco Resource

Interest in Canadian mineral exploration company Oroco Resource prompted it to increase a private placement only five days after the initial announcement. The company hopes to raise C$900,000 for exploration expenditures, payment of mineral concession duties, costs associated with intended acquisitions and general and administrative expenses.

Oroco saw an increase in its share price of 23.08 percent to close the five-day period at C$0.16.

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Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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