Precious Metals

Gold Investing

Last week’s other top-gaining TSXV stocks were Africa Hydrocarbons, Almonty Industries, Robex Resources and Maya Gold & Silver.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 0.3 percent on Friday (August 18) to end at 769.76 points.
Oil prices rallied Friday as US drillers cut rigs by five to bring the total count down to 763. A report released earlier last week suggested crude output in the US was continuing to rise.
The Canadian dollar reached a two-week high on Friday, spurred by data showing an uptick in the Bank of Canada’s core measures of inflation. The increase suggests that the bank could raise interest rates in the fall.
US stocks closed lower as news of US President Donald Trump’s firing of chief strategist Steve Bannon began to reach the market.

Against that backdrop, a number of  TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:
  • Novo Resources (TSXV:NVO)
  • Africa Hydrocarbons (TSXV:NFK.H)
  • Almonty Industries (TSXV:AII)
  • Robex Resources (TSXV:RBX)
  • Maya Gold & Silver (TSXV:MKNA)

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

Novo Resources

Novo Resources announced on August 15 that it has signed definitive agreements for farm-in and joint venture gold rights with Artemis Resources (ASX:ARV) regarding Artemis’ exploration project in Western Australia. Novo will farm in to 50 percent of gold in Artemis’ tenements; in exchange, Novo is committing $2 million for exploration.
The firm is waiting on TSX approval for issuing 4,000,000 common shares to Artemis. Dr. Quinton Hennigh, Novo’s chairman, director and president, said the companies will, “soon soon be undertaking an aggressive program of large diameter drilling and trenching at Purdy’s Reward.”
Novo’s share price rose 62.54 percent to close at $5.33 last week.

Almonty Industries

Almonty Industries closed the first tranche of a non-brokered private placement on August 15. The company raised $4,800,000 through the sale of 16,000,000 common shares to Lewis Black, Almonty’s chairman, CEO and president. Black now controls 19.99 percent of the company, and plans to increase his ownership through a second private placement.
The company is focused on the mining, processing and shipping of tungsten concentrate from its Los Santos mine in Spain, its Wolfram Camp mine in Australia and its Panasqueira mine in Portugal. Almonty is also developing its Sangdong tungsten mine in Korea and the Valtreixal tin/tungsten project in Spain.
The company’s share price rose 46.67 percent to close at $0.33 last week.

Robex Resources

Robex Resources’ most recent news came in July, when it announced that its gold sales increased by 19 percent in Q2 compared to Q1. The company’s Nampala mine is located in Southern Mali, and has been producing since January 1, 2017. The firm has five gold exploration permits in Mali in addition to its producing mine.
The company has not released any recent updates, but recent geopolitical issues have driven investors towards safe-haven assets such as gold and the gold price has rallied 3.34 percent in the last 30 days. Robex saw its share price rise 33.33 percent over the course of last week to close at $0.18.

Maya Gold & Silver

Maya Gold & Silver released partial drill results on August 15 for its Morocco-based Zgounder silver mine. The mine has been on care and maintenance since 1990, and the company is working to bring it into production again. Last week’s results include:

Hole ZG-17-S10 drilled in the center of the deposit collared at 2060m elevation at 165 degrees North and minus 65 degrees has intersected 104 g/t Ag from 0 to 8.5m and 254 g/t Ag over 29.5m from 49.5 to 79 metres  including 362 g/t over 4m from 51 to 55m, 987 g/t Ag over 1.5m from 61 to 62.5m, 471 g/t Ag over 5.5m from 71 to 76.5m and extent mineralization at depth in the area.

The company’s share price rose 28.57 percent over the course of last week to close at $0.28.

Kootenay Silver

On August 15, Kootenay Silver announced the discovery of a new mineralized zone at its La Cigarra silver project in Mexico. The company’s management believes the new area has the potential to add significant new resources to the deposit, and Kootenay’s share price rose 27.27 percent last week to end at $0.14.
Kootenay President and CEO James McDonald said, “[t]he discovery of a mineralized zone of this magnitude and strength of veining in the world-class Parral mining district is a highly significant development for the company.”
He added, “[t]he large-scale nature and intensity of the mineralized zone offers exceptional future growth potential and is characteristic of other major silver deposits in the district such as the San Francisco Del Oro and Santa Barbara mines located closely to the immediate south.”
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.


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