Jayden Resources, Cordoba Minerals, Asian Mineral Resources, Pacton Gold and Hunt Mining were last week’s top-gaining mining stocks on the TSXV.
Last Friday (May 11), the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 6.58 points, or 0.85 percent, to close at 781.27.
The Toronto Stock Exchange experienced a broad-based rally on Friday, with the Canadian dollar trading at US$0.78.
Oil was on its way up last week after US President Donald Trump’s decision to nix the Iran nuclear deal. On the TSXV, miners exploring for gold, zinc and copper saw the most upward movement, including:
- Jayden Resources (TSXV:JDN)
- Cordoba Minerals (TSXV:CDB)
- Asian Mineral Resources (TSXV:ASN)
- Pacton Gold (TSXV:PAC)
- Hunt Mining (TSXV:HMX)
Here’s a look at those companies and the factors that moved their share prices last week.
Exploration company Jayden Resources saw an 85-percent increase in its share price up to C$0.18. Jayden’s main asset is its advanced-stage gold-silver Silver Coin project in Northern BC, located in what it calls an emerging major metals district.
The company released no new news last week, with its most recent release coming in January.
Toronto-based exploration company Cordoba Minerals has copper-gold projects in Colombia’s Cordoba province. Earlier this month, Cordoba outlined a regional exploration program for its main focus, the San Matias copper-gold project. The company highlighted new copper and gold targets, and said it would be focusing drilling in areas with known mineralization.
Clearly good news for investors; Cordoba Minerals’ share price went up 60.61 percent last week to C$0.265.
Asian Mineral Resources
Asian Mineral Resources says that it possesses one of the few nickel projects on the market — the Ban Phuc project in Northern Vietnam, west of Hanoi. The company has conducted extensive surface exploration throughout the area with drilling indicating well-defined targets.
The company’s most recent news was an update on its strategic review of Ban Phuc, and the announcement of a financing agreement in late April. The news and progress seems to have done the trick, with Asian Mineral Resources’ share price up 50 percent last week at C$0.01.
Junior exploration company Pacton Gold, which explores for gold, lithium and uranium in Canada, Australia and the US, closed a private placement last week. The company said that the proceeds of the $5.5-million private placement will go toward exploration work at its properties in Canada and Australia.
The news was welcomed by investors, with Pacton’s share price jumping on the TSXV to C$0.49, up 48.48 percent.
Hunt Mining announced its first gold concentrate offtake agreement on May 8, and will receive a US$700,000 advance for the delivery of gold-silver concentrate from its La Josefina project in Patagonia, Argentina. La Josefina is an advanced-stage gold-silver property.
The company’s share price increased 28.57 percent last week, coming to C$0.36 on the TSXV.
Data for 5 Top 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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.