5 Top Weekly TSXV Stocks: Agnico Eagle Swoops on Alexandria

- June 16th, 2019

The top five gainers on the TSXV last week were Alexandria Minerals, Stans Energy, Mangazeya Mining, Barksdale Capital and Azarga Metals.

Last Friday (June 14), the S&P/TSX Venture Composite Index (INDEXTSI:JX) shifted by a minuscule 0.18 points, or 0.03 percent, to 589.06.

Commodities were affected by a rollercoaster of news out of China last week. The country has made it easier for local governments to fund infrastructure projects — news that pushed base metals up — but the release of manufacturing and investment data rained on that parade.

Elsewhere, US President Donald Trump traded barbs with Iran over attacks on tankers in the Strait of Hormuz. The UN shared its own response to that development.

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Looking at junior miners on the TSXV, here are the top five gainers for last week:

  • Alexandria Minerals (TSXV:AZX)
  • Stans Energy (TSXV:HRE)
  • Mangazeya Mining (TSXV:MGZ.H)
  • Barksdale Capital (TSXV:BRO)
  • Azarga Metals (TSXV:AZR)

Read on to find out what each company has been up to recently.

Alexandria Minerals

A gold-focused company, Alexandria Minerals is an explorer and developer with assets in Manitoba, Ontario and Quebec, where its flagship Val d’Or project has been soaking up the majority of its time and effort since 2007.

On Thursday (June 13), the company received an unsolicited offer from Agnico Eagle Mines (NYSE:AEM,TSX:AEM) to purchase the company, an offer that Alexandria said is a superior offer to a previous agreement with Chantrell Ventures (TSXV:CV.H).

On the TSXV, Alexandria was up by a solid 66.67 percent with the news, rising to C$0.05 — which is Agnico Eagle’s purchase price for the company.

Stans Energy

Stans Energy is a rare earths company with a focus on acquiring properties in the former Soviet Union. However, it has been running into legal trouble with Kyrgyzstan, which expropriated its past-producing rare earths mine. As a result of that, Stans has been transitioning to being a supplier of materials related to energy supply and storage.

The company has released no new news in June, though in May it shared its financial statements for Q1 on SEDAR, detailing heavy losses.

On the TSXV last week, Stans Energy was up by 44.44 percent to C$0.065, possibly thanks to continued interest in the rare earths sector.

Mangazeya Mining

Another company operating in the former Soviet Union, Mangazeya Mining has three non-ferrous and precious metals deposits in the Zabaykalsky Krai of the Russian Far East.

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The company has not released any news on its website since late last year, but filed its Q1 production results on SEDAR at the end of May, detailing gold production of 2,260 ounces for the quarter.

In Toronto last week, Mangazeya was trading at C$0.04 by Friday, up 33.33 percent over the five days.

Barksdale Capital

A base metals-focused company, Barksdale Capital operates in the US, where it has a portfolio of prospective targets in Southern Arizona.

On Tuesday (June 11), it announced a new strategic shareholder: Canadian giant Teck Resources (TSX:TECK.B,NYSE:TECK), which has invested C$1.57 million through a private placement, effectively becoming an 8 percent owner of the company.

With the news, Barksdale Capital jumped by 22 percent through the week, reaching C$0.61 by Friday.

Azarga Metals

Yet another company operating in the former USSR, Azarga Metals owns the Unkur coppersilver project in Zabaykalsky Krai. The asset was the subject of a positive preliminary economic assessment last year.

The company hasn’t released any news in June, but in late May announced the granting of stock options.

On the TSXV last week, Azarga was trading at C$0.11, up by 29.41 percent by Friday.

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$10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.

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

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