5 Top Weekly TSXV Stocks: Allegiant Gold Up Over 60 Percent

Last Friday (December 21), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.91 points, or 0.91 percent, to reach 532.1.

In the news, gold was up as the greenback dipped, markets were getting hammered and a US government shutdown was well and truly in the cards. 

The TSXV’s top gainers were again mostly gold juniors, with investors taking plenty of interest in the shiny yellow metal with markets looking so ugly.

Below we take a look at last week’s five top-gaining mining stocks on the TSXV. Read on to find out a little about what each company has been up to. Without further ado, here are the top risers:

• Allegiant Gold (TSXV:AUAU)
• Pinecrest Resources (TSXV:PCR)
• PJX Resources (TSXV:PJX)
• Kintavar Exploration (TSXV:KTR)
• Foran Mining (TSXV:FOM)

Allegiant Gold

Canada-based, US-focused gold explorer Allegiant Gold is a spin off of Columbus Gold’s (TSX:CGT) American gold assets, and began trading on the TSXV in January this year.

The company’s flagship project (though it has many) is its Eastside gold project in Nevada, along the Walker Lane gold trend in the west of the state.

The most recent news from Allegiant was in mid-December, when it completed a drilling program at its North Brown project in Nevada, and revealed that it still has plans to drill at another six projects all the way up to June 2019.

On the TSXV last week, Allegiant was up 64.71 percent by Friday, finishing up the week at C$0.28.

Pinecrest Resources

Another gold explorer and developer, Pinecrest Resources holds up its Enchi gold project in Ghana as its flagship project, which it owns 100 percent.

Its most recent release is a September quarterly update on SEDAR detailing its financials for the year so far (net loss, no cashflow), but news about Enchi has been sparse in 2018 otherwise.

The company was trading up 33.33 percent on the TSXV last week, at C$0.24.

PJX Resources

Canada-focused explorer PJX Resources has eight properties in BC, where it explores for gold, silver and base metals. One of its properties, DD, is being explored by Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK), which is looking for a zinc–lead-silver deposit.

PJX’s most recent news is the completion of a non-brokered private placement to the tune of C$1,366,155. It also provided an exploration update this month for its Vine, Zinger, Dewdney Trail, Eddy and Gold Shear properties, where it is planning drill programs.

By the end of last week, PJX had increased in value by 31.58 percent on the TSXV, to reach C$0.25.

Kintavar Exploration

Quebec-focused copper explorer Kintavar Exploration has now made this list two weeks in a row, after making 2018’s best TSXV copper stocks list earlier in December.

The company has two major areas it focuses on, both in Quebec. Its Mitchi property was the subject of its news last week, which details the completion of a successful drilling program. The company says that assay results are to be expected in late January 2019.

Last week, Kintavar was up by 30.23 percent to C$0.28 for a 103.7-percent increase year-to-date.

Foran Mining

Foran Mining is a Canadian exploration and development company with zinc and copper projects in the Hanson Lake volcanogenic massive sulfide district in mining-friendly Saskatchewan.

The company’s most recent news was back in November, when it announced drilling had encountered high-grade copper and gold at the Upper West zone of its McIlvenna Bay project.

Foran was up 27.87 percent on the Venture last week, reaching C$0.39.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView. 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.

Editorial Disclosure: Foran Mining is a client of the Investing News Network. This article is not paid-for content.