Precious Metals

Gold Investing

The S&P/TSX Venture Composite Index experienced another week of record volatility, hitting its lowest point ever on March 19 when it fell to 331.36 points.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) experienced another week of record volatility, hitting its lowest point ever on Thursday (March 19) when it fell to 331.36 points.

Last week’s selloffs proved chaotic for the markets, with declines seen across the world.

Mid-week brought some strength in the precious metals sector. The TSXV also trended higher after its Thursday low, but on Friday (March 20) was still off 5.9 percent from its weekly high of 380.74.

Concern that prolonged shutdowns related to the spread of COVID-19 will impact supply chains for the rest of the year has prompted investors to begin looking for safe havens. As a result, four of this week’s top TSXV stocks are precious metals explorers, with the three focusing on gold.

Here are last week’s top five gainers on the TSXV:

Read on to find out more about what each company has been up to lately.

New Pacific Metals

Specializing in precious and base metals, New Pacific Metals is developing projects in both Canada and South America. The company’s flagship asset is the Silver Sands project in Bolivia.

Two of the junior’s major shareholders are also silver-focused companies: Silvercorp Metals (TSX:SVM,NYSEAMERICAN:SVM) and Pan American Silver (TSX:PAAS,NASDAQ:PAAS). New Pacific has not posted any news since mid-February, when it reported 2019 drill results for the Silver Sands project.

Company shares were trading for C$4.54 on Friday, a 41.8 percent increase for the week.

Triumph Gold

Diversified explorer Triumph Gold is developing its Freegold Mountain project in the Dawson Range of the Yukon. The company also has the Andalusite Peak asset in Northwestern British Columbia.

In early March, Triumph released an update on a rock sampling and trenching program at the Freegold Mountain project.

“The 2019 trenching program along a 600 metre portion of the Irene-Goldstar Epithermal gold-silver corridor has revealed impressive grades and widths of precious metal mineralization, and suggests that substantial mineralization is present along the Irene-Goldstar trend,” Jesse Halle, vice president of exploration, noted.

Triumph shares increased by 41 percent last week to trade at C$0.17.

Highland Copper Company

Focused on copper plays in North America, Highland Copper Company is currently developing assets in the Copper Range District of the Upper Peninsula in Michigan.

The company has not put out news since its end-of-January corporate update, which outlines extensions to debt repayment and an extension of the closing date for its acquisition of the White Pine project.

Highland Copper experienced a 40 percent uptick for the period, trading for C$0.03.

Great Bear Resources

Great Bear Resources is a gold exploration company focused on projects in the Red Lake gold district of Northwest Ontario.

Currently the company has four projects in development: the Dixie project (its flagship), the Pakwash property, the Dedee property and the Sobel property.

On Thursday, Great Bear issued a press release outlining its response to the COVID-19 crisis.

“Drilling continues at our flagship Dixie project,” wrote Chris Taylor, CEO and president. “We have implemented comprehensive new operational procedures designed to limit the risk of infectious transmission, which should allow exploration to proceed in the safest manner possible.”

Company shares had climbed 28.8 percent by the end of the week, trading for C$5.80.

Otis Gold

Precious metals company Otis Gold has a portfolio of projects in Idaho, including the Kilgore property. The asset was an important factor in South America-focused Excellon Resources’ (TSX:EXN,OTC Pink:EXLLF) decision to acquire the company.

The merger announcement, which was made on February 24, will be voted on by shareholders in April.

On the TSXV, shares of Otis Gold moved 22.2 percent higher for the week to reach C$0.11.

Data for 5 Top Weekly TSX 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.

Don’t forget to follow us @INN_Resource for real-time updates!

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

Editorial Disclosure: Great Bear Resources and Triumph Gold are clients of the Investing News Network. This article is not paid-for content.



S&P 5003790.93+112.50


Heating Oil3.53+0.01
Natural Gas6.82-0.02