Precious Metals


Last week’s top-gaining mining stocks on the TSXV were Labrador Gold, Essex Minerals, VanadiumCorp, Emgold Mining and Stratabound Minerals.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended down last week, ending at 683.34. 

Commodities faced some turmoil in the week leading up to the US election, with the gold price dropping near US$1,860 per ounce during the period.

The yellow metal had bounced back somewhat by the end of the week, and despite the downward momentum many of last week’s top gainers on the TSXV were gold stocks.

The TSXV-listed mining companies below saw the biggest share price moves last week:

  • Labrador Gold (TSXV:LAB)
  • Essex Minerals (TSXV:ESX)
  • VanadiumCorp Resource (TSXV:VRB)
  • Emgold Mining (TSXV:EMR)
  • Stratabound Minerals (TSXV:SB)

Here’s a look at what may have moved their share prices over the last five days.

1. Labrador Gold

Focused on acquiring and exploring gold projects in Eastern Canada, Labrador Gold is advancing its Kingsway gold project, located in Newfoundland.

The company had two pieces of news last Friday (October 30). First, it closed a non-brokered flow-through private placement for gross proceeds of $4.05 million; second, Stichting Depositary Plethora Precious Metals Fund announced that due to the placement it now holds less than a 10 percent stake in Labrador Gold. Labrador Gold’s share price increased 37.5 percent last week to finish at C$0.50.

2. Essex Minerals

Essex Minerals has the right to earn a joint venture interest in several epithermal and orogenic gold projects in the Australian regions of Queensland and the Northern Territory.

The company’s latest news came on October 20, when it announced that Phase 2 drilling was set to start at its Cumberland gold-silver joint venture project and gave an update on Phase 1 drilling at the asset. Despite the lack of fresh news, its share price rose 34.38 percent last week to end at C$0.43.

3. VanadiumCorp Resource

Mining and technology company VanadiumCorp Resource is focused on developing its Quebec-based vanadium-titanium-ironresource base and green process technology.

Last Thursday (October 29), the company released an updated resource estimate for its Lac Doré project. The Lac Doré main zone now has a measured and indicated resource of 214.93 million tonnes of mineralized material; it has the potential to produce 52.97 million tonnes of magnetite concentrate grading 1.3 percent vanadium pentoxide, 62 percent iron and 8.7 percent titanium dioxide.

Lac Doré also hosts 86.91 million tonnes grading 0.4 percent vanadium pentoxide, 28 percent iron, 7.6 percent titanium dioxide and 25.9 percent magnetite concentrate in the inferred category for an estimated 22.55 million tonnes of magnetite concentrate grading 1.2 percent vanadium pentoxide, 62 percent iron and 9.2 percent titanium dioxide.

VanadiumCorp’s share price increased 33.33 percent on the news to close last week at C$0.06.

4. Emgold Mining

Gold, silver and base metals exploration company Emgold Mining is focused on Nevada and Quebec. Its latest news came at the beginning of October, when it started exploration at its Mindora project. Even though it didn’t share any news last week, Emgold’s share price jumped 31.58 percent to reach C$0.13.

5. Stratabound Minerals

Stratabound Minerals is focused on high-potential gold and copper projects in North America, with assets in jurisdictions including the Yukon and New Brunswick.

The last news from Stratabound came on October 8, when it closed a non-brokered flow-through financing for $1.59 million. Like Emgold, Stratabound’s share price increased 31.58 percent last week; the company ended the period 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.


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