Last week’s top-gaining mining stocks on the TSXV were Finlay Minerals, Constantine Metal Resources, Gossan Resources, Power Nickel and Galantas Gold.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) climbed last week, opening at 895.39 on Monday (July 19) and closing the five day period at 902.45
Gold and silver prices were on the decline during the week, with the yellow metal finishing just above the US$1,800 per ounce mark and its sister metal ending at about US$25.20 per ounce.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Finlay Minerals (TSXV:FYL)
- Constantine Metal Resources (TSXV:CEM)
- Gossan Resources (TSXV:GSS)
- Power Nickel (TSXV:PNPN)
- Galantas Gold (TSXV:GAL)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Finlay Minerals
Finlay Minerals is focused on the exploration and development of high-value base and precious metals deposits in Northern BC, an area that is familiar to the company’s management team. Its properties are called Silver Hope, ATTY and PIL, and all three are located in that region.
There was no fresh news from Finlay last week, but its share price rose 42.11 percent to finish at C$0.14.
2. Constantine Metal Resources
Base and precious metals explorer Constantine Metal Resources has honed its efforts on North America. Its main property is the Alaska-based Palmer copper–zinc-silver-gold-barite project, which it is advancing via a joint venture with Dowa Metals & Mining; Constantine is the operator of the joint venture.
Last Friday (June 23), the company announced a non-brokered private placement to raise gross proceeds of up to $1,955,000. Its share price increased 37.78 percent last week to end at C$0.31.
3. Gossan Resources
Explorer and developer Gossan Resources has properties in the Canadian provinces of Newfoundland, Manitoba and Ontario. The company’s main focus is its Sturgeon Lake lake project in Ontario; among other assets, it also has a Newfoundland gold initiative centered on the Gander project.
Gossan did not release any news last week, but its share price leaped 34.21 percent to close at C$0.26
4. Power Nickel
Formerly known as Chilean Metals, Power Nickel changed its name midway through this month. With its fresh moniker, the company intends to explore and develop the Nisk nickel-copper-cobalt–palladium project in Quebec’s James Bay area. Power Nickel has the option to earn an 80 percent interest in Nisk.
Last week, Power Nickel’s share price saw a rise of 29.17 percent, finishing at C$0.16.
5. Galantas Gold
Galantas Gold owns and recently operated an open-pit gold mine in Northern Ireland. It produced silver and lead as by-products, and the company has now progressed to mining underground.
There was no news from Galantas last week, but the company rose 27.87 percent to end at C$0.78.
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.
Editorial Disclosure: Finlay Minerals is a client of the Investing News Network. This article is not paid-for content.