Last week’s other top-gaining mining stocks on the TSXV were Pasofino Gold, VVC Exploration, Telson Mining and Canada Nickel Company.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (July 31) at 721.62, up just under 15 points from Monday’s (July 27) open of 707.08.
The major news last week centered on gold, which blasted past its previous all-time high of about US$1,920 per ounce to hit a new record, soaring as high as around US$1,980.
Some gold companies were unsurprisingly on the rise due to that major milestone, but last week’s top gainers on the TSX Venture Exchange were fairly diverse in terms of the metals they’re focused on.
The TSXV-listed mining companies below saw major share price moves last week:
- Stuhini Exploration (TSXV:STU)
- Pasofino Gold (TSXV:VEIN)
- VVC Exploration (TSXV:VVC)
- Telson Mining (TSXV:TSN)
- Canada Nickel Company (TSXV:CNC)
Here’s a look at what may have moved their share prices over the last five days.
1. Stuhini Exploration
Last week, the company’s share price leaped 97.67 percent to finish the period at C$0.85. On Tuesday (July 28), it announced a non-brokered private placement for C$1.35 million. The money will be put toward exploration programs at Stuhini’s three projects.
2. Pasofino Gold
Pasofino Gold is working to earn a 50 percent stake in the Quebec-based Roger gold-copper project. It also has an agreement to acquire privately owned ARX Resources, a company that has a deal in place to earn a 40 percent stake in the Dugbe gold project in Liberia.
Last Monday (July 27), Pasofino announced that the next day it would be able to start trading again the TSXV after a halt requested by the company on July 9. July 9 was the day Pasofino entered its arrangement to acquire ARX Resources.
3. VVC Exploration
VVC Exploration has honed its efforts on the Gloria sedimentary-hosted copper project in Mexico. It also holds a number of other properties in Mexico, as well as in Ontario, Canada.
The latest news from VVC came in early June, when it provided a number of company updates, including the news that Gloria will be reopening once the company receives permission from the authorities in Mexico; Gloria was shut down due to COVID-19. Despite the lack of fresh news, the company’s share price rose 80 percent last week to end at C$0.05.
4. Telson Mining
Last Wednesday (July 29), the company said it expects to file its annual and Q1 financials and MD&A by the July 30 deadline. Telson’s share price rose 68.18 percent during the period to close at C$0.19.
5. Canada Nickel Company
Last week brought a rise of 66.67 percent for Canada Nickel Company, which closed on Friday at C$2.25.
The company, which is focused on its Crawford nickel–cobalt sulfide project in Ontario, shared two pieces of news last week. On Monday, Canada Nickel created a subsidiary called NetZero Metals. Its aim will be to start research and development efforts for a processing facility whose goal will be to produce zero-carbon nickel, cobalt and iron products.
Then, on Thursday (July 30), the company announced assay results from Crawford’s East zone, plus additional results from infill drilling on the project’s Main zone. They are the final results for the program.
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: Canada Nickel Company and VVC Exploration are clients of the Investing News Network. This article is not paid-for content.