Last week’s top-gaining mining stocks on the TSXV were Doubleview Gold, Filo Mining, Pacific Ridge, Outcrop Gold and Chibougamau Independent.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) sank last week, ending at 931.22 after opening the five day period at 961.87.
Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:
- Doubleview Gold (TSXV:DBG)
- Filo Mining (TSXV:FIL)
- Pacific Ridge Exploration (TSXV:PEX)
- Outcrop Gold (TSXV:OCG)
- Chibougamau Independent Mines (TSXV:CBG)
Here’s a look at what may have moved their share prices over the last five days.
1. Doubleview Gold
Exploration and development company Doubleview Gold has centered its efforts primarily on precious and base metals projects in British Columbia, Canada.
Last week, the company announced results from initial metallurgical testing on material from its Hat copper-gold-cobalt deposit, located in the Golden Triangle area of British Columbia. According to Doubleview, flotation tests show it is possible to produce a concentrate that is high in gold and low in cobalt-copper, as well as a concentrate that is high in cobalt and low in gold pyrite.
Doubleview’s share price rose 93.55 percent last week to finish at C$0.60.
2. Filo Mining
Filo Mining is part of the Lundin Group of Companies. The company is focused on its Argentina-based Filo del Sol project, which it says hosts a high-sulfidation epithermal copper-gold-silver deposit associated with a large porphyry copper-gold system.
Last week, Filo Mining discovered a “significant” new zone of high-grade copper, gold and silver mineralization at Filo del Sol. Highlights include 858 meters at 1.8 percent copper equivalent from a depth of 188 meters. The company’s share price increased 89.25 percent to finish the period at C$7.57.
3. Pacific Ridge Exploration
Pacific Ridge Exploration’s goal is to become one of British Columbia’s leading copper-gold exploration companies. Its key asset is the advanced-stage Kliyul copper-gold project in the province.
The company’s share price rose 56.41 percent last week to hit C$0.31. During the period, Pacific Ridge added Dan Core to its technical advisory committee. He will help the committee optimize drill targets for its upcoming drill program, and assist in the evaluation of new copper-gold acquisition opportunities.
4. Outcrop Gold
Colombia-focused Outcrop Gold is a prospect generator with five main precious metals asset in the country. The company’s business model is to do grassroots exploration and then use a joint venture approach to move its projects further forward.
On Monday (May 10) of last week, the company shared results from five delineation drill holes at the La Ivana discovery, located at its Santa Ana project; it also gave an update on exploration drilling at Santa Ana. Outcrop’s share price rose 50 percent last week to close at C$0.45.
5. Chibougamau Independent Mines
Chibougamau Independent Mines has a land position in the Chibougamau mining camp, which it says was mined from 1953 to 2008, producing 1.6 billion pounds of copper and 3.2 million ounces of gold during that time, plus “significant amounts” of silver and zinc.
Last Wednesday (May 12), the company commented on the news that Glencore (LSE:GLEN,OTC Pink:GLCNF) plans to help Vanadium One Iron (TSXV:VONE) develop the Mont Sorcier iron–vanadium project in Quebec. Chibougamau holds a 2 percent gross metal royalty on all mineral production from the property, and its share price rose 50 percent last week to hit C$0.24.
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.