5 Top Weekly TSXV Stocks: Jayden Resources Gains on Start of Drill Program

- September 17th, 2017

Last week’s top-gaining stocks on the TSXV were American Manganese, Stakeholder Gold, GB Minerals and International Lithium.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 0.43 percent on Friday (September 15) to end at 779.66 points.
Gains in consumer shares were mostly offset by losses in energy, while oil prices remained flat.
Wall Street appears to have been largely unaffected by the release of weaker-than-expected US retail sales data for the month of August and a drop in industrial output. Analysts believe that Hurricane Irma, which has ravaged Florida, will hurt the US economy in the third quarter. However, its impact is expected to be temporary, and economic performance is seen rebounding in the fourth quarter of the year.
Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

Read on for a brief overview of those companies and what moved their share prices last week.

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Jayden Resources

On September 12, Jayden Resources started surface drilling at its Silver Coin project in Northwestern BC. The program at the advanced-stage gold-silver property in the province’s Golden Triangle district will consist of about 6,000 feet of drilling and will focus on extending and upgrading lenses of known high-grade gold mineralization within the Main Breccia zone. The other objective of the program is to test additional targets along strike to the south and at a potential sub-parallel zone to the east.
The company’s share price rose 52.17 percent to close at $0.18 last week.

American Manganese

American Manganese’s share price gained 51.61 percent last week to close at $0.24. During the period, the company announced that Kemetco Research has successfully made four types of lithium-ion batteries using recycled materials produced with the American Manganese’s hydrometallurgical process technology. The four batteries represent “the leading chemistries in the rapidly evolving battery space.” 
The company also said its research work is on schedule and on budget, and noted that it will be able to complete and file its patent application by November 2017. 

Stakeholder Gold

On September 14, Stakeholder Gold announced an expansion of its Goldstorm project in Nevada. The company added 1,160 acres on the Crawford Ranch, which is contiguous to its existing claims. Stakeholder’s total exploration leases now cover 3,806 contiguous acres surrounding the Clayton Veins system and the Prochnau Veins system, plus their respective strike extensions.
Company President and CEO Chris Berlet said drilling at Goldstorm is anticipated to commence in October. “Our objective is to confirm the Clayton and Prochnau Vein systems as low sulphidation epithermal gold bearing structures before year end. The intent is to confirm a Midas type, high grade gold system in a developed mining jurisdiction which, if successful, we believe could be highly accretive to shareholder value,” he said. 
The company saw its share price rise 45.16 percent over the course of last week to close at $0.45.

GB Minerals

GB Minerals is developing the Farim phosphate project in West Africa. The project is currently estimated to be capable of producing 1.32 million tonnes of phosphate rock per year for 25 years.
The firm has not released any recent updates since August, when it received advances totaling $5 million from Aterra Resources and Zaff, which are both significant shareholders in the company. Even so, GB Minerals’ share price rose 40 percent over the course of last week to close at $0.07.

International Lithium

International Lithium has projects in Argentina, Ireland and Canada. At the beginning of September, the company received a final report on a study to recover lithium using membrane separation. Results of the study show that the selective recovery of lithium from raw brine to produce lithium hydroxide for battery manufacturing is possible.
“We consider this report very encouraging news for the advancement of our Mariana Lithium JV Project,” commented Kirill Klip, executive chairman of International Lithium. The company’s share price rose 40 percent to close at $0.14 last week.
Data for 5 Top Weekly 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.
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Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: American Manganese and Stakeholder Gold are clients of the Investing News Network. This article is not paid-for content.

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