5 Top Weekly TSXV Stocks: Reunion Gold Rises on Oko West Results

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the decline last week, opening the five day period at 907.09 and closing on Friday (September 10) at 903.29.

New data from Statistics Canada shows that the Canadian economy added 90,000 jobs in August, achieving a third consecutive monthly increase.

Meanwhile, the country’s unemployment rate fell to 7.1 percent for the month, down from 7.5 percent in July. The decrease brought the rate to the lowest level since the COVID-19 pandemic began last year.

Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:

• Reunion Gold (TSXV:RGD)
• Adamera Minerals (TSXV:ADZ)
• Colonial Coal International (TSXV:CAD)
• Nevada Zinc (TSXV:NZN)
• Baru Gold (TSXV:BARU)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Reunion Gold

Reunion Gold describes itself as the leading gold explorer in South America’s Guiana Shield, with a portfolio of projects in Guyana, Suriname and French Guiana.

Last Tuesday (September 7), the company reported new high-grade assay results from an ongoing drill program at its Guyana-based Oko West project, including 46.9 meters at 2.67 grams per tonne (g/t) gold, 36 meters at 2.49 g/t gold and 18 meters at 6.71 g/t gold.

So far Reunion has completed 37 diamond drill holes (3,768 meters) and 46 reverse-circulation drill holes (3,592 meters). Its share price leaped 60 percent last week to finish at C$0.12.

2. Adamera Minerals

Adamera Minerals is exploring for high-grade gold deposits near Republic, Washington, an area it says has produced 8 million ounces of gold. The company bill itself as the area’s dominant regional explorer.

Last Wednesday (September 8), Adamera signed a data transfer agreement with a wholly owned subsidiary of Kinross Gold (TSX:K,NYSE:KGC). According to the company, the deal will “significantly accelerate” its exploration, including drilling at its Buckhorn 2.0 gold property. Adamera’s share price increased 60 percent last week to hit C$0.08.

3. Colonial Coal International

Colonial Coal International is a pure-play metallurgical coal developer. It has 100 percent interests in the resource-stage Huguenot and Flatbed coal properties in Northeastern BC’s Peace River coalfield.

There was no fresh news from Colonial Coal last week, but shares rose 53.19 percent to end at C$1.44.

4. Nevada Zinc

Exploration and development company Nevada Zinc is working on its Lone Mountain high-grade zinc carbonate-oxide project in Nevada, US. Lone Mountain’s 202 claims cover an area of over 4,000 acres, including the historic Mountain View zinc mine, which produced more than 5 million pounds of zinc, 650,000 pounds of lead and 4,000 ounces of silver between 1942 and 1968.

The latest news from Nevada Zinc came at the end of August, when it gave an update on its multi-phase pilot plant program to produce zinc sulfate. There were no additional announcements last week, but the company’s share price jumped 36.84 percent to close at C$0.13.

5. Baru Gold

Baru Gold is positioning itself to become Indonesia’s next gold producer. The company met environmental and government requirements for its Sangihe gold project in 2020, and has received approval to advance to construction and production in late 2021/early 2022; it plans to do so without establishing mineral reserves supported by a feasibility study.

Last Tuesday, Baru acquired the majority of the phase one land targeted to start the initial mining production process at Sangihe. Its share price increased of 33.33 percent to finish the week at C$0.10.

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$50 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.