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Last week’s top-gaining mining stocks on the TSXV were Colonial Coal, Mineral Mountain Resources, Sarama Resources, NuLegacy Gold and Evrim Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week down at 821.21 points, declining 2.01 percent.
On Friday (March 23), fears of a trade war between the US and China hit the markets, led by declines in financial and industrial shares.
Meanwhile, Canada’s annual inflation rate in February jumped to a three-year high, while January retail sales put in another disappointing performance. As a result, the Bank of Canada may raise interest rates sooner than expected.
Against that backdrop, a number of TSXV-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:
- Colonial Coal (TSXV:CAD)
- Mineral Mountain Resources (TSXV:MMV)
- Sarama Resources (TSXV:SWA)
- NuLegacy Gold (TSXV:NUG)
- Evrim Resources (TSXV:EVM)
Without further ado, here’s a look at last week’s five top weekly TSXV stocks.
Colonial Coal
Colonial Coal focuses primarily on coking coal projects in BC. The company owns a 100-percent interest in two resource-stage coal projects in the Peace River coalfield in the province.
Over the five-day period, shares of Colonial Coal spiked 33.33 percent to close at C$0.17.
Mineral Mountain Resources
Mineral Mountain Resources is focused on the exploration of its 100-percent-owned Rochford gold project, situated along the highly prospective Homestake Gold Belt in the Black Hills of South Dakota.
Its share price saw an increase of 36.177 percent last week to reach C$0.64. There is no recent news that would explain the rise.
Sarama Resources
Sarama Resources is a West Africa-focused gold explorer with substantial landholdings in Burkina Faso. Sarama’s flagship properties are situated within its South Houndé project area in the country.
Shares of the company increased 9.09 percent last week to reach C$0.12.
NuLegacy Gold
NuLegacy Gold is an advanced-stage Nevada exploration company focused on the discovery of district-scale Carlin-style gold deposits on its Red Hill property in the prolific Cortez Gold Trend of Nevada.
Shares of the company increased 11.76 percent last week to reach C$0.19.
Evrim Resources
Evrim Resources is a mineral exploration company operating under the prospect generator/joint venture business model. The company’s projects are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim’s business plan also includes royalty creation utilizing its exploration expertise and existing projects.
On March 21, the company received $3 million from exercised accelerated warrants. Shares of Evrim jumped 11.36 percent last week to reach C$0.49.
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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 $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
