5 Top Weekly TSXV Stocks: Silver Spruce Rises as Drill Program Starts

The S&P/TSX Composite Index (INDEXTSI:OSPTX) experienced an uptick last week, opening on Monday (May 31) at 19,905.82 and finishing at 20,031.87 on Friday (June 4).

In the commodities space, the gold price dipped back below the US$1,900 per ounce mark, while its fellow precious metal silver put on a relatively flat performance.

News hit that the Canadian economy lost 68,000 jobs in May due to COVID-19 prevention measures. The unemployment rate for the month was 8.2 percent, slightly lower than April’s 8.1 percent.

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

• NEO Battery Minerals (TSXV:NBM)
• Pulse Oil (TSXV:PUL)
• Jayden Resources (TSXV:JDN)
• Q Gold Resources (TSXV:QGR)
• Silver Spruce Resources (TSXV:SSE)

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

1. NEO Battery Minerals

With a focus on battery metals exploration in North America, NEO Battery Minerals has staked new mining claims in BC that are along strike with a quartzite bed. The company intends to become a silicon anode materials supplier to the electric vehicle industry.

Last Tuesday (June 1), NEO appointed Dr. Jinhyuk Lee to its scientific advisory board. The company’s share price increased 58.14 percent on the news to close at C$0.34.

2. Pulse Oil

Pulse Oil holds an Alberta-based 100 percent working interest enhanced oil project. It includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years; the company plans to use a proven recovery methodology to further enhance their oil recovery.

Aside from filing various documents on SEDAR, there has been no fresh news from Pulse Oil since mid-May. Last week its share price rose 50 percent to end at C$0.05.

3. Jayden Resources

With assets in BC and Quebec, Jayden Resources has honed its efforts on Canada. The company has an option to acquire up to a 75 percent interest in the BC-based Harry and Outland Silver Bar properties, as well as an option to wholly acquire the Storm Lake gold property in Quebec.

Jayden hasn’t released any news since the end of April, although it has filed various documents on SEDAR. Last week, its share price increased 44.44 percent to finish at C$0.26.

4. Q Gold Resources

Diversified precious metals exploration company Q Gold Resources is targeting high-grade gold and silver discoveries in Canada and Peru. It is working to delineate a compliant resource at its high-grade gold property in Ontario, and to establish initial grade and tonnage estimates at its Peru property.

There has been no news from Q Gold since mid-April aside from various SEDAR filings, but last week its share price jumped 42.86 percent to end at C$0.25.

5. Silver Spruce Resources

Exploration company Silver Spruce Resources has definitive agreements in place to acquire all or part of the Melchett Lake zinc-gold-silver project, the El Mezquite gold-silver project, the Jackie gold project and the Diamante gold-silver project. Aside from that, it is looking to explore the Pino de Plata silver project.

Last week, Silver Spruce announced the start of Phase 1 exploration drilling at El Mezquite in Mexico. It is the first drill program at the asset, and the company expects it to be completed by July. The news sent the company’s share price up 41.67 percent to end at C$0.09.

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.