Precious Metals


Last week’s top-gaining mining stocks on the TSXV were Central Iron Ore, Artemis Gold, Tudor Gold, Antioquia Gold and Unigold.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (June 12) at 554.44, down slightly from 560.95 on Monday’s (June 8) open.  

Thursday (June 11) was difficult for global markets, with North American stocks seeing their worst day since March. Concerns about a long recovery from COVID-19 were part of the reason for the plunge.

The worldwide situation improved on Friday, although the day was characterized by “wild swings.”

Against that backdrop, the companies below saw major share price moves last week:

  • Central Iron Ore (TSXV:CIO)
  • Artemis Gold (TSXV:ARTG)
  • Tudor Gold (TSXV:TUD)
  • Antioquia Gold (TSXV:AGD)
  • Unigold (TSXV:UGD)

Here’s a look at what may have moved their share prices during the period.

1. Central Iron Ore

Exploration and development company Central Iron Ore is focused on iron ore and gold assets Australia. Those include the Yilgarn iron ore project and the South Darlot and Eureka gold properties.

Last Wednesday (June 10), the company announced “significant gold intercepts” from drilling at the Endeavour prospect, located at South Darlot. According to Central Iron Ore, highlights of the 20 hole program include 1.6 meters (1.28 meters true width) at 124.4 grams per tonne gold from 37.3 meters.

Central Iron Ore experienced a share price increase of 675 percent last week to finish at C$0.16.

2. Artemis Gold

Artemis Gold was spun out of Atlantic Gold last year, before Atlantic Gold was acquired by St. Barbara (ASX:SBM,OTC Pink:STBMY). Its portfolio includes an almost 40 percent stake in Velocity Minerals (TSXV:VLC), plus the right to earn 100 percent of the GK copper-gold property in BC’s Golden Triangle.

Last week was a busy one for Artemis. The company first announced plans to acquire New Gold’s (TSX:NGD,NYSEAMERICAN:NGD) BC-based Blackwater gold project for an initial payment of C$140 million, plus other payments over time. Artemis followed that news up by announcing a C$155 million private placement of subscription receipts and then upsizing that private placement to C$175 million. The funds will be used to fund the purchase of Blackwater.

Artemis’ share price rose 74.58 percent to reach C$3.09 last week.

3. Tudor Gold

BC-focused precious and base metals explorer Tudor Gold has properties in the Golden Triangle. Its main asset is its 60 percent owned Treaty Creek property, which borders Seabridge Gold’s (TSX:SEA,NYSE:SA) KSM project and Pretium Resources’ (TSX:PVG,NYSE:PVG) Brucejack project. It has other assets in the Golden Triangle as well.

Tudor Gold didn’t release any news last week, but its share price increased 51.11 percent to hit C$1.36. It may have been buoyed by the news surrounding the Blackwater project.

4. Antioquia Gold

Exploration and development company Antioquia Gold’s main asset is its Colombia-based Cisneros mining operation. Cisneros is comprised of 10 concessions totalling 5,630 hectares.

Last Monday, Antioquia released a summary of Cisneros’ production results for May, commenting that it put out 1,446 troy ounces of gold. The company processed an average of 357 tonnes per day with a recovery of gold to concentrate of 97 percent. Antioquia also shared the results of its latest exploration drill program and announced progress on other projects.

The news sent the company’s share price up 40 percent to reach C$0.04.

5. Unigold

Unigold is developing its flagship Neita project in the Dominican Republic. Neita covers 22,616 hectares and according to the company has “significant gold and copper resource upside.”

There was no news from Unigold last week, but its share price increased 39.13 percent to come in at C$0.32. Its latest news came on June 3, when it increased its previously announced non-brokered private placement to about $6 million worth of units.

Data for 5 Top Weekly TSXV 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 non-energy minerals and energy minerals are considered.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.



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