The top-gaining TSXV stocks last week were Laurion Mineral Exploration, Grande Portage, Noram Ventures, Wealth Minerals and Vanadium One Iron.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was fairly flat last week, but overall trended down, opening the five day period at 948.66 and closing at 930.22.
The Bank of Canada surprised market watchers mid-week when it hinted that interest rates may rise sooner than expected and started reducing bond purchases. According to the Financial Post, that makes Canada the first major economy to signal its intent to reduce emergency levels of monetary stimulus.
Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:
- Laurion Mineral Exploration (TSXV:LME)
- Grande Portage Resources (TSXV:GPG)
- Noram Ventures (TSXV:NRM)
- Wealth Minerals (TSXV:WML)
- Vanadium One Iron (TSXV:VONE)
Here’s a look at what may have moved their share prices over the last five days.
1. Laurion Mineral Exploration
Laurion Mineral Exploration’s main focus is its Ontario-based Ishkoday gold-polymetallic project. Ishkoday is home to the past-producing Sturgeon River mine, while the company’s Brenbar property, which is contiguous with Ishkoday, hosts the historic Brenbar mine.
Laurion announced the start of a 10,000 meter diamond drill program at Ishkoday on April 13, and filed various documents on SEDAR last Friday (April 23). The company’s share price increased 43.1 percent last week to finish at C$0.42.
2. Grande Portage Resources
Grande Portage Resources is focused on its Alaska-based Herbert gold discovery.
Last Monday (April 19), the company received regulatory approval for its upcoming drill program at Herbert, stating that all permits are now in place. Its plan is to drill about 20,000 feet of diamond drill core, testing multiple targets from as many as nine platforms. Two days later, on Wednesday (April 21), Grande Portage announced a non-brokered private placement for gross proceeds of up to $310,000.
Grande Portage’s share price jumped 40.74 percent last week to close at C$0.38.
3. Noram Ventures
Exploration company Noram Ventures’ goal is to become a low-cost supplier of lithium. Zeus, the company’s flagship asset, is located in Nevada’s Clayton Valley.
There were two pieces of news from Noram last week. First, on Wednesday, the company announced assay results from hole CVZ-67 at Zeus. The hole was completed as part of a Phase 5 drill program, and the interval from 282 to 502 feet contained 220 feet averaging 1,000 parts per million lithium.
On Friday (April 23), Noram provided the final results from the Phase 5 drill program at Zeus, reporting that hole CVZ-68 contained the best results to date. The company’s share price increased 39.78 percent last week to finish at C$0.65.
4. Wealth Minerals
With interests in Canada, Mexico, Peru and Chile, Wealth Minerals is focused mainly on acquiring and developing lithium projects in South America. The company has set itself up to develop the Quisquiro salar and holds a position in the Atacama salar, both located in Chile.
Wealth Minerals filed various documents on SEDAR last Thursday (April 22), including a notice for its annual general meeting. Its share price leaped 38.18 percent last week, ending the period at C$0.38.
5. Vanadium One Iron
Vanadium One Iron is moving forward at its Quebec-based Mont Sorcier iron ore-vanadium project. According to the company, the asset is near key rail, port and electrical power networks, which will facilitate rapid development and startup.
There was no fresh news from Vanadium One Iron last week, but its share price moved up by 35.14 percent, closing the five day segment at C$0.25.
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.