Last week’s other top-gaining mining stocks on the TSXV were Corsa Coal, Carube Copper, Anfield Energy and Petroteq Energy.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) ended last Friday (April 17) at 444.87, down 0.57 percent on the day, but up from 424.73, where it was at the beginning of the week.
Canadian indexes followed US stocks up during the period. The upward momentum came as some states in the country began looking to ease restrictions put in place to curb the spread of COVID-19.
In the metals space, gold spent much of last week above US$1,700 per ounce, but it’s uranium that some market watchers have been getting excited about. The energy fuel has been attracting attention as mine closures and slowdowns caused by the coronavirus help to buoy its price.
Against that backdrop, a number of junior miners were able to post gains. Last week’s five top-rising resource stocks on the TSXV are as follows:
- Corsa Coal (TSXV:CSO)
- Carube Copper (TSXV:CUC)
- Anfield Energy (TSXV:AEC)
- Petroteq Energy (TSXV:PQE)
- Roscan Gold (TSXV:ROS)
Here’s a look at what may have moved their share prices during the period.
1. Corsa Coal
Pure-play metallurgical coal producer Corsa Coal is focused on the US, with assets in Pennsylvania and Maryland. As well as mining, Corsa also processes its material and sells it to buyers in the global steel industry; it has the capacity to produce over 1.6 million tons of coal per year.
The company did not release any news last week, but its share price rose 62.96 percent to close at C$0.22. Corsa’s latest news came on March 30, when it released its results for Q4 and the full 2019 year. It also recently provided a statement saying that its Pennsylvania operations would not have to close under the state’s COVID-19 restrictions.
2. Carube Copper
Carube Copper has a slew of copper-gold exploration assets spread across Peru, Jamaica and Canada. Like Corsa, it did not share any news last week; the company’s most recent release came on March 15, when it reported the results from its annual general and special meeting. All matters submitted to shareholders for approval were given the go-ahead.
Last week, Carube’s share price rose 55.56 percent to finish at C$0.07.
3. Anfield Energy
Uranium-focused Anfield Energy has a slew of assets in the US, including its Shootaring Canyon mill, which is one of only three licensed, permitted and constructed conventional uranium mills in the US.
Like the previous two companies listed, Anfield did not put out any news last week; however, its share price jumped 52.94 percent to end at C$0.13. As mentioned, uranium market watchers have been optimistic in recent weeks due to a tightening of supply caused by COVID-19.
4. Petroteq Energy
Petroteq Energy has developed an environmentally friendly technology for processing and extracting heavy oil; it does not produce greenhouse gases and does not need high temperatures. According to the company, it is focused on developing oil sands resources at its Utah-based facility, and on expanding production capacity at the operation.
Last Tuesday (April 14), Petroteq announced that due to the coronavirus it would not meet the deadline for filing its quarterly report for the three and six months ended February 29. The company said that both the Canadian Securities Administrators and US Securities and Exchange Commission have issued extensions for disruptions caused by COVID-19.
The company’s share price rose 45.45 percent last week to finish at C$0.08.
5. Roscan Gold
Roscan Gold is focused on West Africa, and its initial prospective gold exploration project is Kandiole, locted in Mali. It plans to amass a larger West African gold portfolio as time goes on.
Last Monday (April 13), Roscan released drill results from the Mankouke South target at the western part of Kandiole. According to the company, the depth of the Mankouke South target has been extended from 80 meters in February to 120 meters currently. In addition, hole DDMan-20-25 ended in mineralization at a depth of 143.7 meters. Twenty additional holes across 2,315 meters were completed.
The company’s share price saw a 42.86 percent increase to close at C$0.25.
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 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.
Editorial Disclosure: Carube Copper is a client of the Investing News Network. This article is not paid-for content.