5 Top Weekly TSXV Stocks: African Gold Soars on Kobada Drill Results

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 383.94, down slightly from Monday’s (March 30) open of 388.29.

Although oil prices gained some steam last week, markets around the world continue to be impacted by COVID-19, with worries persisting about global economic health.

The US reported its worst monthly jobs data since March 2009, while in Canada cities like Toronto continue to put stricter lockdown measures in place.

Even so, some junior companies are managing to keep their heads above the water. Last week’s five top-gaining mining stocks on the TSXV are as follows:

• African Gold Group (TSXV:AGG)
• G2 Goldfields (TSXV:GTWO)
• Jericho Oil (TSXV:JCO)
• Pacific Booker Minerals (TSXV:BKM)
• Mineral Mountain Resources (TSXV:MMV)

Here’s a look at what may have moved their share prices last week.

1. African Gold Group

African Gold Group’s primary asset is the Mali-based Kobada gold project, where it is working toward completing a definitive feasibility study in Q2 of this year. Last Thursday (April 2), the company released drill results from the property, with highlights including 2.14 grams per tonne gold over 16 meters, including 30.8 grams per tonne gold over 1 meter.

On the back of the news, the company’s share price jumped 60.71 percent to end at C$0.23.

2. G2 Goldfields

G2 Goldfields describes itself not as a prospect generator, but as a resource generator. It has a portfolio of projects in both Canada and Guyana, and its goal is to take them from the exploration to resource stage while also acquiring new assets.

The gold-focused company did not release any news last week, but its share price nevertheless rose 50 percent to close the period at C$0.27.

3. Jericho Oil

Jericho Oil is focused primarily on the STACK play in Oklahoma’s Anadarko Basin. Its position in the state spans 55,000 net acres, including an interest in 16,000 net acres in the STACK play.

Like G2 Goldfields, the oil and gas company did not release any news last week, but its share price was still on the rise, lifting 50 percent to finish at C$0.15. Its last release came on March 10, when its CEO addressed current market conditions.

4. Pacific Booker Minerals

Pacific Booker Minerals’ main project is the Morrison copper-gold-molybdenum property in BC, where development has stalled due to difficulties clearing the province’s environmental review period.

Its latest release came on March 9, when it said that its recent share price volatility could be attributed to a question asked by Dr. Andrew Weaver during question period in the Legislative Assembly of BC. Weaver, an MLA, asked Bruce Ralston, the province’s minister of energy, mines and petroleum resources, about regulatory inconsistencies surrounding Morrison.

Despite the lack of news, Pacific Booker’s share price rose 48.15 percent last week to close at C$2.

5. Mineral Mountain Resources

With a focus on South Dakota’s Homestake Trend, Mineral Mountain Resources is interested in gold projects with “camp-scale potential.” The company’s key property is the Rochford gold project.

Last week, Mineral Mountain said that it would be releasing assays from the Standby Trend target, located at Rochford, on or before April 9. Drilling was completed in Q4 2019 and Q1 2020, and the new results will be integrated with previous and historical work at on the area. The company’s share price rose 45.16 percent last week to finish at C$0.45.

Data for 5 Top Weekly TSXV 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$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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.