5 Top Weekly TSXV Stocks: Ely Gold Rises 35 Percent on Acquisition News

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, opening at 946.82 and closing the period at 948.49 on Friday (June 25). 

The gold price remained below the US$1,800 per ounce mark for the week, ending around US$1,780.

In Canada, the country’s five year inflation targeting mandate is up for renewal, and it’s possible there could be a major overhaul — this comes as worries about inflation are increasing.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• NEO Battery Materials (TSXV:NBM)
• CGX Energy (TSXV:OYL)
• Marvel Discovery (TSXV:MARV)
• Canterra Minerals (TSXV:CTM)
• Ely Gold Royalties (TSXV:ELY)

Here’s a look at those companies and the factors that moved their share prices last week.

1. NEO Battery Materials

With a focus on battery metals exploration in North America, NEO Battery Materials has staked new mining claims in BC that are along strike with a quartzite bed. The company intends to become a silicon anode materials supplier to the electric vehicle industry.

Last Wednesday (June 23), NEO announced the start of a pilot plant project. The company intends to use in-house resources to design and test equipment that will use its single-step silicon nanocoating process. NEO’s share price jumped 149.12 percent on the news to close the period at C$0.71.

2. CGX Energy

Oil and gas explorer CGX Energy holds interests in three licenses in the Guyana Basin, and has explored actively both onshore and offshore of Guyana since 1997.

The last news from CGX came at the end of May, but despite the lack of fresh announcements, the company’s share price leaped 117.74 percent last week to end at C$2.70.

3. Marvel Discovery

Canada-focused Marvel Discovery has properties across the country in BC, Quebec, Ontario and Newfoundland. Its assets center mainly on gold, copper, nickel and platinum-group metals.

There were several announcements from Marvel last week. On Wednesday (June 23), the company announced the acquisition of a position in Newfoundland’s Hope Brook area. According to Marvel, the 763 claims are contiguous to land owned by First Mining Gold (TSX:FF,OTCQX:FFMGF) and by a joint venture between Sokoman Minerals (TSXV:SIC,OTCQB:SICNF) and Benton Resources (TSXV:BEX).

Aside from that, Marvel changed its OTCQB ticker symbol and closed a private placement for gross proceeds of $200,000. The company’s share price jumped 54.55 percent last week to end at C$0.17.

4. Canterra Minerals

Canterra Minerals is focused on gold exploration in Newfoundland and Labrador. The company is earning earning a 100 percent interest in the Wilding and Noel Paul gold projects in the province; they are located directly northeast of Marathon Gold’s (TSX:MOZ,OTCQX:MGDPF) Valentine Lake gold project.

Last Thursday (June 24), Canterra started surface exploration work at Wilding and Noel Paul. Results from the program will enhance targeting and generate additional targets for drilling, which is expected to begin later this summer. The firm’s share price increased 45.45 percent on the news to close at C$0.40.

5. Ely Gold Royalties

Ely Gold Royalties describes itself as a Nevada-focused gold royalty investment company. Right now the company’s portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec.

Last Monday (June 21), Gold Royalty (NYSEAMERICAN:GROY) entered into a definitive agreement to acquire Ely Gold, creating an Americas-focused precious metals royalty firm. Ely Gold said later in the week in a letter to shareholders that the transaction values the company at about $295 million. The company’s share price increased 35.64 percent over the course of the week to finish at C$1.37.

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$50 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.