The top gainers on the TSXV last week were New Oroperu Resources, Stans Energy, GobiMin, Galane Gold and American Manganese.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell last week, but was up slightly on Friday (August 16) by 1.18 points at 569.96.
In the news, the world was distracted by recession fears later in the week as reports that US President Donald Trump wants to buy Greenland made their way into the media.
Here are the top five gainers on the TSXV from last week:
- New Oroperu Resources (TSXV:ORO)
- Stans Energy (TSXV:HRE)
- GobiMin (TSXV:GMN)
- Galane Gold (TSXV:GG)
- American Manganese (TSXV:AMY)
Read on to find out what each company has been up to recently.
New Oroperu Resources
New Oroperu Resources owns the Tres Cruces gold project in Peru, which is subject to an option agreement with Barrick Gold (TSX:ABX,NYSE:GOLD). The (much) larger company is obliged to pay all expenses in development up to production, and must pay New Oroperu US$250,000 every year until a production decision is made to maintain its option agreement.
The most recent news for New Oroperu was released on August 8, when it completed a US$555,000 private placement.
New Oroperu was trading at C$0.52 by Friday, up 48.57 percent over the previous five days.
Stans Energy is a rare earths company with a focus on acquiring properties in the former Soviet Union. However, it has been running into legal trouble with Kyrgyzstan, which has expropriated the company’s past-producing rare earths mine. As a result of that, Stans has been transitioning to being a supplier of materials related to energy supply and storage.
The company has not released any news recently, but on the TSXV it was trading up by 30.77 percent last week, at C$0.085.
GobiMin has a focus on the Xinjiang Uygur Autonomous Region of the People’s Republic of China, where it has a 70 percent interest in Xinjiang Tongyuan Minerals to explore, develop and operate the Sawayaerdun gold project.
The company’s most recent news was released at the start of August, when it announced the continuation of a normal course issuer bid.
GobiMin was trading at C$0.35 by the end of last week, up by 29.63 percent.
Galane Gold is a gold company with producing assets in Botswana and South Africa, along with exploration tenements.
On August 15, the company released its financial and operating results for Q2 2019, detailing production of 8,694 ounces of gold.
On the TSXV, Galane was trading at C$0.075 at the end of last week, up by 25 percent.
American Manganese is a critical metals company focused on recycling lithium-ion batteries for cathode metals such as cobalt, lithium, nickel, manganese and aluminum using its RecycLiCo hydrometallurgical process. The process has achieved very high recoveries of battery metals for reuse in new batteries.
On August 13, the company announced it has begun testing at its RecycLiCo plant.
On the TSXV last Friday, the company was trading at C$0.25, up by 20 percent on the previous five days.
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: American Manganese is a client of the Investing News Network. This article is not paid-for content.