5 Top Weekly TSXV Stocks: Financing Sends Newrange Gold Soaring

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 15,582.04 points, up 1.2 percent.
According to Reuters, the index was buoyed by an oil price rebound that came after Saudi Arabia said that Russia will join OPEC members in extending supply cuts. Canadian and US labor market reports also appeared to boost confidence in the market.
Canada’s April jobs report shows that the unemployment rate dropped 0.2 percent, but it disappointed in terms of job growth. Meanwhile, data from the US Department of Labor shows that job growth recovered in April from weak numbers in March. The US unemployment rate dropped to its lowest in 10 years at 4.4 percent.

Amid that action, a number of TSXV-listed stocks in the mining sector saw share price increases last week. The top five gainers were:

• Arctic Star Exploration (TSXV:ADD)
• Newrange Gold (TSXV:NRG)
• Amex Exploration (TSXV:AMX)
• Galantas Gold (TSXV:GAL,LSE:GAL)
• Azimut Exploration (TSXV:AZM)

Without further ado, here’s a look at those companies and the factors that moved their share prices last week.

Arctic Star Exploration

Arctic Star Exploration has several properties spread across Canada’s provinces and territories, from Nunavut and the Northwest Territories to BC and Saskatchewan.
The company’s most recent news came in January, when it said it had begun permitting for a drill program at its BC-based CAP property. CAP has the potential to host rare metals. Since then Arctic Star has released no news; nevertheless, last week its share price rose 43.59 percent to end at $0.28.

Newrange Gold

Formerly known as Colombian Mines, Newrange Gold holds projects in both Colombia and the US. So far in 2017 the company has focused mostly on its Nevada-based Pamlico gold project.
Last week, Newrange closed the second and final tranche of a non-brokered private placement. Between the two tranches, the company raised gross proceeds of $1,545,110. The news sent the company’s share price up 37.5 percent to end at $0.44.

Amex Exploration

Amex Exploration has two main projects: the Quebec-based Perron gold project and the Eastmain River gold properties, also in Quebec.
Last week, the company entered into an option agreement to acquire an undivided 100-percent interest in the Gowan property in Ontario. Gowan is about 16 kilometers from Glencore’s (LSE:GLEN) Kidd Creek mine, which is a world-class copper–zinc VMS deposit. Amex’s share price rose 34.55 percent to end at $0.37 on the back of the news.

Galantas Gold

Galantas Gold’s main asset is the past-producing Omagh gold mine in Northern Ireland. It did not release any news last week, but its share price rose 33.33 percent to close at $0.10.
At the end of April, the company halted work at Omagh after the Police Service of Northern Ireland said it would not “provide its required anti-terrorism cover in regard to blasting operations required for mine development.” Galantas’ share price fell precipitously at the time.

Azimut Exploration

Azimut Exploration is focused on gold and base metals properties in Quebec, and has signed more than 30 strategic and option agreements with senior and junior partners in 13 years.
Last week, the company announced results from the first nine holes of a 14-hole exploration program at its Eleonore South gold joint venture project. The program was completed in April, and the best result announced so far is an intercept of 4.9 g/t gold over 45 meters, including 13 g/t gold over 10.5 meters. The release sent Azimut’s share price up 22.22 percent to end the week at $0.33.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close 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: Newrange Gold is a client of the Investing News Network. This article is not paid-for content.