The Conversation (0)
Last week’s other top gainers on the TSXV were Adex Mining, G2 Goldfields, Walker River Resources and Mason Graphite.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (May 10) at 599.48, up 7.37 points or 1.24 percent.
The Canadian jobs market surprised to the upside that day, with employment seeing its biggest month-on-month increase ever. A total of 106,500 jobs were added in the country, pushing the unemployment rate down to 5.7 percent.
In metals, the end of the week brought trade war tensions between the US and China, which led to gains for gold and difficulties for base metals.
The following companies were the TSXV’s top performers by share price last week:
- Adex Mining (TSXV:ADE)
- G2 Goldfields (TSXV:GTWO)
- Braveheart Resources (TSXV:BHT)
- Walker River Resources (TSXV:WRR)
- Mason Graphite (TSXV:LLG)
Here’s a look at what moved the needle for these stocks during the period.
Adex Mining
Adex Mining’s main asset is its Mount Pleasant mine property in New Brunswick, which hosts tungsten–molybdenum and tin-indium-zinc mineralization.
The company did not release any news last week, but its share price jumped 50 percent to close the period at C$0.02.
G2 Goldfields
G2 Goldfields saw a share price rise of 44.64 percent last week, finishing at C$0.41. It describes itself as a “resource generator,” and has exploration-stage assets in Canada and Guyana that it is working on developing resource estimates for.
While the company did not share any news last week, it had a busy April. At the beginning of the month it changed its name and announced a share consolidation; later in the month, it gave an exploration update and granted options to executives.
Braveheart Resources
Braveheart Resources has a focus on properties in BC, with its flagship project being Bull River, a copper-gold-silver mine near Cranbrook.
Last week, the company’s share price increased 41.67 percent to reach C$0.17. During the period, Braveheart completed its acquisition of Purcell Basin Minerals, the owner of Bull River.
Walker River Resources
Walker River Resources’ main asset is the Lapon Canyon gold project, located in Nevada. In April, the company signed a letter of intent with Smooth Rock Ventures (TSXV:SOCK) to explore the Garfield Flats project, also in Nevada.
Last week, Walker River’s share price jumped 34.78 percent to finish at C$0.16. It did not release any news during that time.
Mason Graphite
Mason Graphite is developing its Lac Gueret graphite project in Quebec. Construction is expected to start this year, with production slated for 2020.
The company did not release any news last week, but its share price rose 34.62 percent to end at C$0.35.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View’s stock screener. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
Don’t forget to follow us at @INN_Resource for real-time news updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
