The Conversation (0)
Last week’s top-gaining mining stocks on the TSXV were ReconAfrica, Ethos Gold, Foran Mining, Stratabound Minerals and Pacific Booker.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) started last week at 741.99 points, dipped mid-week and then ended the period fairly flat at 740.35.
News about another potential COVID-19 vaccine, this time from Moderna (NASDAQ:MRNA), made headlines across the world, while Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) provided more news about the coronavirus vaccine they are developing together.
In commodities, gold took another hit, as did most other precious and base metals.
Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:
- Reconnaissance Energy Africa (TSXV:RECO)
- Ethos Gold (TSXV:ECC)
- Foran Mining (TSXV:FOM)
- Stratabound Minerals (TSXV:SB)
- Pacific Booker Minerals (TSXV:BKM)
Here’s a look at what may have moved their share prices over the last five days.
1. Reconnaissance Energy Africa
Reconnaissance Energy Africa, known as ReconAfrica, is an oil and gas junior with petroleum licenses covering about 8.75 million acres in the Namibia- and Botswana-based Kavango Sedimentary Basin.
The company hasn’t released any news since mid-October, when it shared an operational update. However, last week its share price increased 50.44 percent to close at C$1.70. Responding to IIROC, ReconAfrica said it is unaware of any material change that would have caused that activity.
2. Ethos Gold
Ethos Gold is part of the Discovery Group and has honed its efforts on district-scale gold and copper projects in mining-friendly areas like Canada and the US. It is advancing eight assets at the moment.
There were two pieces of news from Ethos last week. First, on Tuesday (November 17) the company closed a private placement for gross proceeds of $100,000; second, on Thursday (November 19) it entered into two earn-in agreements under which it can earn 100 percent interests in the Deep Cove and Virgin Arm claim groups in Newfoundland.
The news sent Ethos’ share price up 44.44 percent to finish at C$0.26.
3. Foran Mining
Zinc-copper exploration company Foran Mining’s main property is its McIlvenna Bay deposit, which is situated along Saskatchewan’s Flin Flon Greenstone Belt.
There was no news from Foran last week, but its share price increased 43.33 percent to close at C$0.43. The company’s latest news came on November 9, when it announced a new executive chairman as well as a C$1 million private placement.
4. Stratabound Minerals
Stratabound Minerals is focused on high-potential gold and copper projects in North America, with assets in jurisdictions including the Yukon and New Brunswick.
Last Tuesday, the company shared results from a Phase 1 field program completed at its Yukon-based Golden Culvert project over the summer. According to Stratabound, it sampled up to 320 grams per tonne gold. Its share price increased 42.22 percent last week to end at C$0.32.
5. Pacific Booker Minerals
Pacific Booker Minerals’ main project is the Morrison copper-gold-molybdenum property in BC, where development has stalled due to difficulties clearing the province’s environmental review period.
On Monday (November 16) last week, Pacific Booker announced that BC’s chief gold commissioner has decided to reinstate the company’s mining lease. It now has until May 21, 2021, to finish its lease term renewal application. Pacific Booker’s share price jumped 40.67 percent on the news to end at C$2.11.
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.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
