On the TSXV last week gold juniors took the lead, with Romios Gold, AEX Gold, Bullman Minerals and Rio2 dominating the list.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up on Friday (September 28) by 7.6 points or 1.09 percent to 706.02.
News was mostly political last week, with all eyes in the US turned to Washington, the UN and US President Donald Trump’s latest comments.
On the mining front, the precious metals market was energized by big news from Barrick Gold (NYSE:ABX) and Randgold Resources (LSE:RRS), which will merge to become a superpower of gold production. Watch this month’s precious metals update for more details on the deal.
Last week’s TSXV top stocks list is dominated by gold juniors. Below are the top five gainers:
- Romios Gold Resources (TSXV:RG)
- AEX Gold (TSXV:AEX)
- Bullman Minerals (TSXV:BUL)
- Cobalt Power Group (TSXV:CPO)
- Rio2 (TSXV:RIO)
Read on to find out about what each company has been up to.
Toronto-based Romios Gold has multiple precious and base metals exploration projects throughout North America, in BC, Ontario, Quebec and Nevada.
Last week, the company released two sets of news. First, on Monday (September 24), Romios signed a letter of agreement with Crystal Lake Mining (TSXV:CLM) to option its Newmont Lake property to Crystal Lake. The company said the transaction will “unlock immediate value for shareholders.”
The company also announced a private placement the next day in a bid to raise money for its other projects. In Toronto, Romios Gold’s shares were up 60 percent over the week to C$0.08.
AEX Gold (formerly known as Alopex Gold) is focused on three projects in Greenland, including the Naluqut mine, which produced 350,000 ounces of the yellow metal between 2004 and 2009.
The company released a financing update early in the week, issuing a private placement to raise C$1 million for operational costs. On the TSXV, the company’s share price increased by 51.43 percent to C$0.53 by Friday.
Bullman Minerals is a gold-focused company with exploration and development projects in West Africa, including the Siguiri and Balandougouba projects in Guinea.
Siguiri has a resource estimate based on company drilling, while Balandougouba has an estimate based on historical exploration. The company has been silent in regards to news, but on the TSXV its value increased by 50 percent last week to C$0.09.
Cobalt Power Group
The company has six projects in Ontario, another in Saskatchewan and another three in Sweden. It says it operates in places where there are plenty of other big players in the cobalt space. Its last news release was way back in August, detailing results from its 2018 summer field program in Ontario.
Despite a dearth of September news, cobalt is always an item of interest for investors these days. Cobalt Power’s value on the TSXV increased by 36.36 percent last week to C$0.075.
We now return to our regular programming with another gold junior: Rio2. An Americas-focused company, it has projects in Chile, Peru and Nicaragua. It has a strategy to acquire and develop prospective projects that increase shareholder value.
News from Rio2 was a private placement announced on Thursday (September 27) for $0.65 a share. A week before, it announced a name change for its Chilean project — formerly the Cerro Maricunga gold project — to the Fenix project.
On the TSXV, the company’s value increased by 33.33 percent to $C0.76 by Friday.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using tradingview.com. Only companies with a market capitalization greater than $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: Cobalt Power Group is a client of the Investing News Network. This article is not paid-for content.