On the TSXV last week, the top gainers were Teuton Resources, African Gold Group, Libero Copper, Aurion Resources and Chesapeake Gold.
Last Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) was fairly flat, falling a miniscule 0.72 points, or 0.12 percent, to 595.61.
News around the world is starting to skew towards recession fears, with plenty of theories as to why flying around the internet.
Unsurprisingly, gold was a common theme among the five top gainers on the TSXV from last week:
- Teuton Resources (TSXV:TUO)
- African Gold Group (TSXV:AGG)
- Libero Copper (TSXV:LBC)
- Aurion Resources (TSXV:AU)
- Chesapeake Gold (TSXV:CKG)
Read on to find out what each company has been up to recently.
Canadian company Teuton Resources is a prospect generator with more than 30 properties in British Columbia’s Golden Triangle area in the northwest of the province.
Last week, the company released an update on option agreements between itself and Tudor Gold (TSXV:TUD) for four properties within the Golden Triangle. Under the amended agreement, Teuton will receive additional payments.
On the TSXV last week, Teuton was up by 57.14 percent, reaching C$0.55.
African Gold Group
African Gold Group is working on developing a gold platform in West Africa, where its principle asset is the Kobada project in Mali. It also has a second project under option in Burkina Faso.
On August 7, African Gold announced the appointment of a new CEO — Stan Bharti, who the company describes as a successful gold entrepreneur and mining executive.
In Toronto, African Gold Group was up by 50 percent last week, reaching C$0.345 by Friday.
As its name suggests, Libero Copper is focused on acquiring copper and gold assets, with a focus on the Americas, where it currently has three assets in the United States, Colombia and Canada.
The company closed a C$2.7 million private placement on August 8, with the proceeds to be used to explore its Canadian Big Red property.
The company was trading up by 41.67 percent last week at C$0.17.
Canadian gold developer Aurion Resources has three interests in Northern Finland: Ahvenjarvi, Kutuvuoma and Silasselka.
On the news front, the company has not released anything since over a month ago, though gold price increase may explain interest in everything gold.
Aurion was trading up by 39.24 percent at the end of last week, reaching C$2.20.
Chesapeake Gold explores precious metals deposits in North America and currently owns the Mexican Metates project, which the company describes as one of the largest undeveloped gold-silver-zinc deposits in the world.
Chesapeake, which was already enjoying a bump from an Eric Sprott investment, jumped another 36.33 percent last week to C$3.64.
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.