5 Top Weekly TSXV Stocks: Revival Ups Beartrack Gold Estimate

- February 9th, 2020

The top gainers on the TSXV last week were Revival Gold, Mangazeya Mining, CANEX Metals, Prime Mining and Garibaldi Resources.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was trading at 574.01 points last Friday (February 8), down by 3.99 points on the previous day and a shade below where it was the same time the week prior at 575.18 points.

News last week was dominated by the coronavirus outbreak in China, which is continuing to chew into numbers on the demand side in the industrial and base metal sectors.

In terms of price, gold was up last Friday at US$1,566.93 an ounce, while copper and oil were down.


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Looking at the junior resources sector, here are the five top-performing stocks on the TSX Venture Exchange from last week:

  • Revival Gold (TSXV:RVG)
  • Mangazeya Mining (TSXV:MGZ.H)
  • CANEX Metals (TSXV:CANX)
  • Prime Mining (TSXV:PRYM)
  • Garibaldi Resources (TSXV:GGI)

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

Revival Gold

Canadian explorer Revival Gold owns and is currently developing the formerly producing Beartrack gold project in Idaho. The company already fully owns the neighboring Arnett gold project.

On Monday (February 3), the company substantially increased the mineral resource estimate for Beartrack, saying in its release that it now has an indicated mineral resource of 36.4 million metric tons graded at 1.16 grams per metric ton (g/t) gold for a total of 1.35 million ounces of gold.

On the TSXV last week, Revival Gold was trading at C$0.92 by Friday after gaining 50.82 percent over the previous five days of trading.

Mangazeya Mining

Mangazeya Mining has three non-ferrous and precious metals deposits in the Zabaykalsky Krai of the Russian Far East.

On Tuesday (February 4), the company released its production results for 2019, reporting an 80.2 percent increase in gold ore mined year-on-year, for yearly production of 44,390 ounces of gold.

The company was trading at C$0.085 by last Friday after gaining 41.87 percent over the week.

CANEX Metals

CANEX Metals is a Canadian junior explorer with a focus on a new gold discovery at the Gold Range project in Arizona, where chip samples have returned 8.5 g/t gold over 5.6 meters. On top of the Gold Range project, the company also has option agreements for projects in British Columbia.


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On Tuesday, CANEX reported that it sampled high-grade gold at Gold Range during exploration done in December of last year. CANEX said that 13 vein samples have returned gold values ranging from 7.1 to 31.7 g/t gold over widths ranging from 0.25 to 1.5 meters.

On the TSXV, CANEX was trading at C$0.27, up by 35 percent.

Prime Mining

Prime Mining bills itself as a near-term gold producer, with its asset — the Los Reyes project in Sinaloa, Mexico — having produced the precious metal historically.

The company has been carrying out a drill campaign at Los Reyes, and on Wednesday (February 5) it reported that it has drilled 37.5 meters at 3.9 g/t gold and 36.5 g/t silver, among other results.

Prime Mining had reached C$0.54 by last Friday, gaining 31.71 percent over the previous week of trading.

Garibaldi Resources

Canadian explorer Garibaldi Resources has eight projects on its books, though it’s focused primarily on its Nickel Mountain project in Northern British Columbia.

The project is unsurprisingly nickel focused, and in its most recent release from January 22, the company reported nickel-copper-rich mineralization from nine recent drill holes, which expanded the massive sulfide zone at the project.

In Toronto, Garibaldi Resources was trading at C$0.86, up by 26.47 percent over the previous week.

Data for 5 Top Weekly TSXV 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 basic materials and energy sectors are considered.

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

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


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