Last week’s top-gaining mining stocks on the TSXV were Pacific Booker, Arizona Metals, Saturn Oil and Gas, Galantas Gold and Labrador Gold.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) put on a bumpy performance last week, but ultimately rose higher, opening at 932.28 and closing the period at 956.81.
Looking at Canada as a whole, the Bank of Canada said in a report last week that the country’s biggest vulnerabilities right now are connected to housing market imbalances and high household debt.
Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:
- Pacific Booker Minerals (TSXV:BKM)
- Arizona Metals (TSXV:AMC)
- Saturn Oil and Gas (TSXV:SOIL)
- Galantas Gold (TSXV:GAL)
- Labrador Gold (TSXV:LAB)
Here’s a look at what may have moved their share prices over the last five days.
1. Pacific Booker Minerals
There has been no news from the company this year, aside from an early May announcement on SEDAR about its upcoming meeting of security holders. Pacific Booker’s share price rose 87.5 percent last week to end at C$3.75.
2. Arizona Metals
Saturn Oil and Gas is focused on the acquisition and development of undervalued, low-risk assets. The company’s light oil strategy is designed to accelerate shareholder growth.
Last Friday (May 21), Saturn increased its previously announced financings to C$32.2 million. The private placements are expected to close on or before May 31. The company’s share price ticked up by 63.64 percent on the news to finish at C$0.18.
4. Galantas Gold
Last Tuesday (May 18), Galantas closed an oversubscribed private placement for aggregate gross proceeds of C$7,998,980; participants included billionaire Eric Sprott and strategic investor Michael Gentile. Then, on Thursday (May 20), the company awarded incentive stock options to directors, employees and consultants. Galantas’ share price rose 63.27 percent last week to end at C$0.80.
5. Labrador Gold
Exploration company Labrador Gold is focused on the acquisition and exploration of prospective gold projects in Eastern Canada. It is currently advancing the Newfoundland-based Kingsway gold project.
Last Wednesday (May 19), the company closed a non-brokered private placement for gross proceeds of $15 million. Sprott was a participant, as was New Found Gold (TSXV:NFG), whose Queensway asset is contiguous to Kingsway. Labrador Gold’s share price surged 57.14 percent last week to end at C$1.10.
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.