The top-gaining mining stocks on the TSXV last week were Tajiri Resources, Freeport Resources, Spanish Mountain, Tethys Petroleum and Silver Range.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended downward last week, finishing at 675.15 on Friday (July 17), down from Monday’s (July 13) open of 696.05.
Perhaps unsurprisingly, the TSX Venture Exchange’s top-gaining stocks in the mining space last week were mainly focused on gold. The companies below saw the biggest share price gains during the period:
- Tajiri Resources (TSXV:TAJ)
- Freeport Resources (TSXV:FRI)
- Spanish Mountain Gold (TSXV:SPA)
- Tethys Petroleum (TSXV:TPL)
- Silver Range Resources (TSXV:SNG)
Here’s a look at what may have moved their share prices over the last five days.
1. Tajiri Resources
Tajiri Resources has three main projects: Gargantuan and Epeius-Kaburi in Guyana, and the Burkina Faso-based Reo project. The company has held the Reo property since 2018, but only recently brought Gargantuan and Epeius-Kaburi into the fold; it entered into a letter of intent to acquire them in late June.
Last week, Tajiri’s share price rose 154.55 percent to reach C$0.14. During that time, the company launched an online marketing campaign with AGORACOM and engaged Relations Publiques Paradox to provide investor relations services.
2. Freeport Resources
British Columbia-focused Freeport Resources has a diverse array of assets, including the past-producing Red Rose tungsten-gold-copper mine, the Spanish Mountain gold project and the Q fluorspar property.
Last week, Freeport signed a letter of intent with Quidum Resources under which the companies will evaluate the idea of Freeport acquiring Quidum. Privately owned Quidum has the right to acquire Highlands Pacific Resources, which owns the Star Mountains property in Papau New Guinea. Quidum has agreed to an exclusivity period that will last until August 31.
Freeport’s share price went up by 86.11 percent last week to reach C$0.67.
3. Spanish Mountain Gold
Spanish Mountain Gold’s activities are also centered on British Columbia, where it is advancing its Spanish Mountain gold project.
According to the company, it is prioritizing Phase I development of the asset, which should lead to a mine life of 11 years. Last week, it announced that it is preparing to start field work at Spanish Mountain; it also closed an oversubscribed non-brokered private placement for gross proceeds of $4 million.
The company’s share price rose 84.21 percent last week to finish at C$0.35. It’s worth noting that Freeport Resources’ Spanish Mountain project is located adjacent to and on strike with Spanish Mountain’s asset, but they are different properties.
4. Tethys Petroleum
Oil and gas exploration and production company Tethys Petroleum has honed its efforts on Central Asia and the Caspian Region, with projects in Kazakhstan and Georgia.
The company released a corporate update last week, saying that testing for the first zone of the Klyeme exploration well has been completed; testing for the second potential zone has now started. The news sent Tethys’ share price up 64.44 percent to close the period at C$0.74.
5. Silver Range Resources
Silver Range Resources is a precious metals prospect generator operating in Nevada and Northern Canada. Its portfolio consists of 45 properties, with eight currently optioned to other entities.
There was no news from Silver Range last week, but its share price saw an uptick of 48.15 percent to end at C$0.20. The company’s latest announcement came on July 9, and was concerning the amendment of terms for its option agreement for the Yuge property in Nevada.
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.