5 Top Weekly TSXV Stocks: Desert Completes Ashanti Acquisition

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by 4.41 points on the final day of last week, reaching 582.51 by Friday (August 23), up by 0.76 percent. 

In the news last week, Denmark’s refusal to sell Greenland drew the ire of US President Donald Trump, with the revelation that Trump is serious about the idea making headlines.

In commodity prices, gold took a little breather through the week, only rising on the last day, while iron ore continued to fall in value as markets keep working to recover from the mine collapse near Brumadinho, Brazil.

Looking at juniors in the mineral space in Canada, companies on the rise were again dominated by gold. Here are the top five gainers on the TSXV from last week:

• Gowest Gold (TSXV:GWA)
• Orex Minerals (TSXV:REX)
• NV Gold (TSXV:NVX)
• Commerce Resources (TSXV:CCE)
• Desert Gold (TSXV:DAU)

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

Gowest Gold

Gowest Gold is a Canadian gold explorer that’s focused on its flagship project, the Bradshaw gold deposit in the prolific Timmins mining camp in Ontario.

The company reported last week that it has entered into a settlement agreement with a financing company that will see Gowest pay US$9 million to PGB Timmins Holdings.

Gowest saw its share value increase by 100 percent last week, jumping from an all-time low of C$0.13 earlier in the week to C$0.25 by last Friday.

Orex Minerals

Junior explorer Orex Minerals is focused on gold, silver and copper exploration in Mexico, where it has three projects; it also has a gold project in Canada.

There was no news from the company last week. Its most recent release came in mid-July, when it announced that it and Pan American Silver (TSX:PAAS) had signed a letter of agreement that will see the two companies create a joint venture to manage the Sandra Escobar project in Mexico.

On the TSXV last week, Orex was up by 76.92 percent to C$0.115.

NV Gold

NV Gold is a junior exploration company with 16 gold properties throughout Nevada, which was named the number one mining jurisdiction in the world by the Fraser Institute. NV Gold is primarily focused on developing its Frazier Dome project.

News from the company last week was about its Slumber gold project, where it reported plans to start drilling last week after receiving final permits. In Toronto, NV Gold was trading up by 64.71 percent at C$0.28 by Friday.

Commerce Resources

Commerce Resources is focused on its Ashram rare earths deposit in Northern Quebec within the Nunavik region. The company already has a preliminary economic assessment and is working on a prefeasibility study.

In the news, the company announced an update to a private placementintended to raise up to C$400,000 in gross proceeds for the development of Ashram.

By the end of last week, Commerce Resources was trading at C$0.25, up by 34.62 percent.

Desert Gold

Africa-focused explorer Desert Gold has assets in Mali and Rwanda, where it is searching for gold.

Last Thursday (August 22), Desert Gold completed the acquisition of fellow gold miner Ashanti Gold, with the purchase increasing Desert Gold’s land position on the Senegal-Mali shear zone to 296.9 square kilometers.

Desert Gold was trading up by 34.29 percent, reaching C$0.235 by the end of last week.

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.

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