5 Top Weekly TSXV Stocks: Gold Juniors Benefit from Rally

Precious Metals
Gold Investing

On the TSXV last week, Algold Resources, Sailfish Royalty, Amarc Resources, Calibre Mining and Rambler Metals and Mining led the way.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down on Friday (October 26), falling by 4.03 points, or 0.62 percent, to 642.59.

The markets are down around the world, with New York taking a plunge. Looking at commodities, cannabis short sellers are turning a profit, gold is having a rally while stocks tumble and base metals are continuing to stay low despite modest recoveries (except nickel, which is being hammered).

News last week was all about the lead up to the midterms in the US, while there were also plenty of eyes watching Brazil — home of many a massive mining operation — where voters will determine the future president of the South America’s largest economy on Sunday.

On the TSX Venture Exchange, the list of top gainers last week was once again dominated by gold miners and explorers — which makes sense given gold’s hike in value over the past five days. Here are the top five gainers on the exchange last week:

  • Algold Resources (TSXV:ALG)
  • Sailfish Royalty (TSXV:FISH)
  • Amarc Resources (TSXV:AHR)
  • Calibre Mining (TSXV:CXB)
  • Rambler Metals and Mining (TSXV:RAB)

Algold Resources

Canadian gold explorer Algold Resources is focused on projects in West Africa, where it holds up its Tijirit project as its flagship.

Last week, Algold reported 80 grams per tonne gold over 0.4 meters at Tijirit near the Atlantic coast. The company’s July and August drill program covered five prospects on the property.

Investors reacted well, with Algold’s share price increasing by 70.21 percent on the TSX Venture Exchange by Friday, reaching C$0.80.

Sailfish Royalty

Sailfish Royalty is a Canadian royalties company with an interest in precious metals.

Currently the company has interests in two development-stage projects: the San Albino project in Nicaragua and the Tocantinzinho project in Brazil, owned by Golden Reign Resources (TSXV:GRR) and Eldorado Gold (TSX:ELD,NYSE:EGO), respectively.

Sailfish’s share price increased markedly last week, rising to C$1.48 by Friday, up 62.64 percent.

The reason why is a mystery to even the company itself, which put out a press release saying as much.

Amarc Resources

Amarc Resources is part of the portfolio of Hunter Dickinson, a company that provides management and technical services to companies that focus on single projects or like projects. Also in the firm’s stable is Northern Dynasty Minerals (TSX:NDM).

For its part, Amarc is focused on copper, with 100-percent interests in the DUKE, IKE and JOY porphyry copper districts in Northern BC. Its most recent release was way back in early October, detailing a drilling program at JOY with the assistance of Hudbay Minerals (TSX:HBM,NYSE:HBM).

Amarc enjoyed an increase in its share price last week, with its value rising to C$0.09, or by 50 percent.

Calibre Mining

Calibre Mining is another Canadian that’s focused on gold, this time in Nicaragua, where it holds interests in the Mining Triangle — described by Calibre as prolific gold-silver-copper mining district.

Calibre has joint venture agreements with a number of other gold-focused companies, and currently has an option agreement with Centerra Gold (TSX:CG) within what it calls the Borosi concessions.

Its most recent news came last week, when it announced along with its joint venture partner Rosita Mining (TSXV:RST) a US$8.5-million investment in the Rosita D joint venture by Century Mining, a private Nicaraguan company with Chinese financing. Calibre’s share price increased by 42.86 percent last week, reaching C$0.05 on Friday.

Rambler Metals and Mining

Rambler Metals and Mining is focused on the Ming copper-gold mine in Newfoundland and Labrador, which is fully operational. The company said in an October 1 press release (its most recent) that its goal is to sustain mine production at 1,250 metric tonnes of ore throughput per day, with plans to eventually increase throughout to 2,000 metric tonnes per day.

It is currently engaged in underground exploration at the mine, which it has been operating since 2011 and which has a history of mining going back to 1972.

On the TSX Venture Exchange, Rambler’s share price increased by 37.5 percent last week to C$0.55.

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.

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