5 Top Weekly TSXV Stocks: St. James Gold Takes Top Spot

The S&P/TSX Venture Composite Index (INDEXTSI:JX) ticked up last week, rising from 932.38 at the start of the week to close on Friday (March 12) at 981.52. 

Data released on Friday shows that Canada added 259,200 jobs in February, which was more than expected. Meanwhile, the country’s unemployment rate fell by 8.2 percent.

“While the labour market still has a long ways to go, we believe that the Bank of Canada will have enough confidence in the recovery by mid-April to taper gross purchases in its quantitative easing program,” Royce Mendes, senior economist at CIBC Capital Markets, told the Financial Post.

Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:

• St. James Gold (TSXV:LORD)
• Avanti Energy (TSXV:AVN)
• Sokoman Minerals (TSXV:SIC)
• Decklar Resources (TSXV:DKL)
• Stinger Resources (TSXV:STNG)

Here’s a look at what may have moved their share prices over the last five days.

1. St. James Gold

St. James Gold has an option to acquire 20 claims covering 1,791 acres in North-Central Newfoundland, as well as an option to acquire 28 claims covering 1,730 acres in the central part of the province.

Last Wednesday (March 10), St. James closed a non-brokered private placement for gross proceeds of $849,980. CEO George Drazenovic said the company is now in a good financial position to explore its Newfoundland gold assets. St. James’ share price rose 72.92 percent last week to close at C$4.15.

2. Avanti Energy

The latest management discussion and analysis documents for Avanti Energy, filed on SEDAR last November, indicate that the company was involved in the exploration and development of oil and gas properties until April 2019, when it disposed of its main asset. Since November, it has entered into a joint venture with Terrelium Resources to work together on a Montana-based helium project.

Avanti released a number of pieces of news last week, announcing a non-brokered private placement for gross proceeds of up to $5 million on Monday (March 8); it also closed its joint venture deal with Terrelium. The company’s share price increased 66.15 percent over the five day period to close at C$2.16.

3. Sokoman Minerals

Sokoman Minerals is focused on exploration in Newfoundland and Labrador. It efforts are centered on a group of gold properties in Central Newfoundland, with its main asset being the Moosehead project.

The latest news from Sokoman came on March 4, when it acquired the Fleur de Lys project in the province via staking and option agreements. Despite the lack of fresh announcements, the company’s share price jumped 59.46 percent last week to end at C$0.30.

4. Decklar Resources

Decklar Resources describes itself as an international oil and gas company focused on opportunities in West Africa. The company is developing the onshore Nigeria-based Oza field.

Last week, Decklar completed the second and final closing of a private placement financing, raising gross proceeds of $4,722,400. The money will be used for general corporate purposes and to re-enter the Oza-1 well at the Oza field. The company expect to have enough funds to re-establish oil output at the Oza field. Its share price rose 51.35 percent last week to end at C$0.56.

5. Stinger Resources

British Columbia-focused Stinger Resources currently holds six prospective precious metals projects in the province. The newly listed company’s flagship property is the Dunwell mine, which is in the Golden Triangle and is a past producer of gold and silver.

Stinger started trading on the TSXV on March 5, and has not shared any press releases since then. Its share price increased 48.84 percent last week to close the period at C$0.32.

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.