5 Top Weekly TSXV Stocks: First Vanadium Strikes Gold

- November 24th, 2019

Gainers last week were Colonial Coal International, Mangazeya Mining, West High Yield Resources, VanadiumCorp Resource and First Vanadium.

At the end of last week on Friday (November 22), the S&P/TSX Venture Composite Index (INDEXTSI:JX) was down by 0.5 points to 528.53. Week-on-week it was an improvement, as on November 15 it had been at 526.51.

Macro-news was centered around impeachment hearings and a possible defusing of the US-China trade war. Speaking of China, protests in Hong Kong are continuing, and on the surface, relations between China and Australia appear to be dipping further as media coverage of Chinese activity in the country increases.

In commodities, despite the regular ups and downs of the trade war, it has pushed gold higher, while base metals were mixed with iron up, and all the rest down.

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On the Toronto Venture Exchange, here are the top five gainers for the week in the basic materials and energy sector:

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

Colonial Coal International

Colonial Coal is unsurprisingly, a coal-focused company with two coal assets — Huguenot and Flatbed — in the northeast of British Columbia. The area where the projects are located has multiple proven deposits, and according to Colonial Coal, has been the subject of merger and acquisition activities by Anglo-American (LSE:AAL) and others.

The company put out two news releases last week: firstly on Tuesday (November 19) announcing a new appointment to its board of directors, and then on Wednesday (November 20) when it announced it was issuing stock options to a director and a consultant of the company at C$0.35 per share.

On the TSXV, Colonial Coal International was trading at C$0.465 by the end of last week after gaining 93.75 percent over the previous five days of trading.

Mangazeya Mining

Mangazeya Mining has three non-ferrous and precious metals deposits in the Zabaykalsky Krai of the Russian Far East.

Same as last week, the company is yet to release any fresher news updates since its August 29 release on production results and managers discussion and analysis.

Still, the company enjoyed a 37.5 percent increase in its share price over the last week of trading, reaching C$0.055 by last Friday.

West High Yield Resources

Canadian explorer West High Yield Resources is focused on developing assets in Canada, with its primary objective being to develop its intermediate-advanced stage exploration Record Ridge South magnesium property in British Columbia.

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In news, the company released unaudited financial statements for Q3 and the year-to-date on November 20 on SEDAR, saying its exploration costs for the year so far have been C$177,328.

West High Yield Resources was trading at C$0.15 last Friday, up 36.36 percent over the five days of trading last week.

VanadiumCorp Resource

VanadiumCorp Resource is an integrated technology and mining company focused on developing the supply chain for vanadium-based energy storage and emerging technologies that utilize vanadium. It has vanadium assets in Quebec, Canada: the Lac Doré project and the Iron-T project.

On Thursday last week (November 21) the company announced it had closed the final tranche of a private placement that has raised C$1,074,000 to be used in advancing the Lac Doré project, and general working capital.

VanadiumCorp Resource reached C$0.06 by last Friday — up by 33.33 percent.

First Vanadium

First Vanadium describes its Carlin vanadium project in Arizona as one of North America’s largest, richest Vanadium deposits.

In November, the company has been releasing interesting news related to precious metals, saying on November 12 that a gold target had been identified at the Carlin project by a prominent Nevada geologist, and then on November 21 that it had appointed gold specialist and former Newmont (TSX:NGT,NYSE:NEM) exploration manager Dave Mathewson to its advisory board to assist in assessing what the company called a “substantial exploration opportunity.”

First Vanadium was trading at C$0.33 by the end of last week, up by 29.41 percent.

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: VanadiumCorp Resource and West High Yield Resources are clients of the Investing News Network. This article is not paid-for content.

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