Last week’s other top-gaining mining stocks on the TSXV were Boreal Metals, Hillcrest Petroleum, Kesselrun Resources and Abraplata Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (August 7) at 739.98, up from Monday’s (August 3) open of 714.17.
The gold price was in focus again as it surged past US$2,000 per ounce, a level never seen before.
Also taking center stage in Canada was a growing trade tiff with the US — President Donald Trump announced plans to set tariffs on Canadian aluminum imports, and Canada responded by saying it will put its own tariffs on American aluminum products.
Against that backdrop, the TSXV-listed mining companies below saw major share price moves last week:
- Minnova (TSXV:MCI)
- Boreal Metals (TSXV:BMX)
- Hillcrest Petroleum (TSXV:HRH)
- Kesselrun Resources (TSXV:KES)
- Abraplata Resources (TSXV:ABRA)
Here’s a look at what may have moved their share prices over the last five days.
Gold-focused Minnova is working on restarting production at the PL gold mine and expanding the resources for its nearby PL and Nokomis gold deposits. All are located in Manitoba, Canada.
Minnova’s share price rose 150 percent last week to finish at C$0.50. Despite the steep increase, the company did not release any news during the period. Its latest announcement came on July 30, when it revealed that it has started a drilling program at the PL mine.
2. Boreal Metals
With assets in Sweden and Norway, Boreal Metals is honing its efforts on the discovery of silver, zinc, copper and gold deposits. Its properties are the Gumsberg VMS project in Sweden and the Burjfjord IOCG project in Norway.
Like Minnova, Boreal’s most recent news came on July 30, when it announced plans to increase its previously announced non-brokered private placement to about $3 million. Despite the lack of fresh news, the company’s share price rose 100 percent last week to end at C$0.14.
3. Hillcrest Petroleum
Hillcrest Petroleum is an oil and gas producer that is also looking at clean energy technology opportunities. The company has multiple wells on two assets in Saskatchewan, Canada, and is aiming to add a clean energy project to its portfolio via its 50 percent stake in ALSET Innovations.
Last week, Hillcrest announced an oversubscribed non-brokered private placement for gross proceeds of about $1.02 million. Among other things, the company intends to use the money to fund the expansion of its Saskatchewan-based West Hazel oil asset, and to “retire certain payables” associated with its oil and gas assets in the province. The news sent its share price up 85.71 percent to close at C$0.13.
4. Kesselrun Resources
Kesselrun Resources describes itself as an exploration company focused on growth through property acquisitions and discoveries. Its Huronian and Bluffpoint projects are both in Ontario.
Although Kesselrun did not release any news last week, its share price jumped 75 percent to reach C$0.28. Its most recent announcement came on July 21, when it mobilized field crews to Huronian in anticipation of a planned drill program.
5. Abraplata Resources
Silver, gold and copper exploration company Abraplata Resources has projects in Argentina and Chile. Its main asset is its Argentina-based Diablillos silver-gold project.
Last week, the company announced a planned non-brokered private placement for aggregate gross proceeds of up to $15 million. According to Abraplata, Canadian billionaire Eric Sprott plans to invest up to $10 million in the offering. The company will use the money to explore its properties and for general corporate purposes. Abraplata’s share price rose 75 percent last week to finish at C$0.42.
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.