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The top gainers on the TSXV last week were Teras Resources, Serengeti Resources, Mineral Mountain, Lumina Gold and Tethyan Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose slightly at the end of last week to reach 536.97 — an increase of 3.17 points.
Macro news was focused on the US election — where after months of winnowing, another candidate is rumored to be about to step into the Democratic race — and the US-China relationship, with US President Donald Trumpdenying he had agreed to anything in regards to rolling back tariffs.
The commodities world saw tragedy last week, with dozens of workers contracted by Canadian gold miner SEMAFO (TSX:SMF,OTC Pink:SEMFF) killed in an attack on a convoy in Burkina Faso.
Here are the five top weekly resources and energy stocks on the TSXV from last week:
- Teras Resources (TSXV:TRA)
- Serengeti Resources (TSXV:SIR)
- Mineral Mountain Resources (TSXV:MMV)
- Lumina Gold (TSXV:LUM)
- Tethyan Resources (TSXV:TETH)
Read on to find out more about what each company has been up to lately.
Teras Resources
Alberta-based Teras Resources focuses on precious and base metals exploration in the US, with projects in California and Montana. Its flagship project is the Cahuilla silver-gold property in California, though it controls seven properties overall.
While the company hasn’t been updating its website often, on SEDAR it posted MD&A documents at the end of October showing that it reduced its losses year-on-year. Teras states in the release, “For the three months ended August 31, 2019 the company had net and comprehensive loss of $82,085 (or $0.00 per share) compared with a net and comprehensive loss of $207,899 (or $0.00 per share) for the three months ended August 31, 2018 — a decrease of $125,814.”
The company was up by 50 percent on the TSXV last week, reaching C$0.06.
Serengeti Resources
Canadian junior explorer Serengeti Resources is focused on its Kwanika copper-gold project in BC. It also has a further six copper and gold exploration projects throughout the province.
Last Tuesday (November 5), the company released an update on exploration at its Top Cat property in BC, which it has under option. The company completed a field mapping and exploration exercise in September, and this month reported results of up to 6.5 grams of gold per tonne.
With that release, the company was trading at C$0.23 by the end of last week after gaining 35.29 percent over the previous week.
Mineral Mountain Resources
Vancouver-based company Mineral Mountain Resources describes itself as an advanced explorer with a focus on the development of gold projects with “camp-scale” potential within mining-friendly regions of the US. Its key project is the Standby project, located near Rochford (the project’s formal name on the company website) in South Dakota.
The company’s most recent release was on October 16, when it announced it had issued 1.32 million shares in order to settle debt. On the TSXV last week, it was trading at C$0.305, up by 32.61 percent on the previous five days trading.
Lumina Gold
Lumina Gold is focused on precious and base metals exploration and development, with its flagship project being the Cangrejos gold-copper project located in El Oro province in Southwest Ecuador.
Cangrejos was the subject of the company’s most recent release from Thursday (November 7), when it reported that it has dramatically increased the Cangrejos resource to 10.4 million ounces of gold in the indicated category and 6.3 million ounces in the inferred category.
Lumina’s shares were up by 26 percent last week reaching C$0.63 by Friday.
Tethyan Resources
Tethyan Resources is a precious and base metals explorer based in BC and focused on the Tethyan metallogenic belt that gives the company its name. The belt is located in Eastern Europe, mainly Serbia.
In late October, the company reported the results of a 2,529 meter drill program at the Rudnica project in Serbia, saying that it had drilled 300 meters at 0.29 percent copper and 0.26 grams per tonne gold.
Tethyan was trading at C$0.15 last Friday — up by 20 percent on the previous week’s trading.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than C$10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
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