• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login

    Investing News NetworkYour trusted source for investing success

    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    5 Top Weekly TSXV Stocks: Galane Gold Gains on LOI to Acquire Vantage Goldfields

    Melissa Shaw
    May. 28, 2017 07:45PM PST
    Precious Metals
    Gold Investing

    Last week’s other top-gaining TSXV stocks were East Asia Minerals, Darnley Bay Resources, Comstock Metals and Amex Exploration.

    The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose last week, increasing 1.09 percent on Friday (May 26) to end at 808.59 points.
    According to Reuters, gains in banks and gold stocks were offset by decreases in pipeline and railway company stocks. Gold was up 0.88 percent on Friday, at $1,266.83 per ounce. Meanwhile, oil fell below $50 per barrel on the outcome of Thursday’s OPEC meeting, during which members of the organization agreed to extend production cuts by nine months.
    On the back of those factors, a number of TSXV-listed mining stocks experienced significant gains. The five top gainers are listed below — as can be seen, many of them are gold-focused companies.

    • East Asia Minerals (TSXV:EAS)
    • Galane Gold (TSXV:GG)
    • Darnley Bay Resources (TSXV:DBL)
    • Comstock Metals (TSXV:CSL)
    • Amex Exploration (TSXV: AMX)

    Read on for a brief overview of those stocks and what moved their share prices last week.

    East Asia Minerals

    East Asia Minerals has three copper, gold and molybdenum exploration projects in Indonesia. In early May, the firm closed a non-brokered private placement for gross proceeds of $3.3 million. The company has not released any news since then, but last week its share price rose 50 percent to close at $0.61.

    Galane Gold

    Galane Gold’s share price gained 35.71 percent last week to close at $0.10. The company holds the producing Mupane gold mine in Africa, and its Galaxy asset is near production. Last Tuesday (May 23), the company entered into a letter of intent to acquire Vantage Goldfields (ASX:VGO). Later in the week, it released its Q1 financial and operating results.
    CEO Nick Brodie said Q1 was challenging for Galane Gold as “unseasonably high rainfall at the Mupane property resulted in flooding at our underground mine and operational issues related to feeding wet ore to our plant.” He added, “[w]hile we managed to continue production throughout this period, albeit at a reduced rate, we did not reach our own internal targets.” Brodie also said production returned to the normal rate during Q2.

    Darnley Bay Resources

    Darnley Bay Resources is developing the past-producing Pine Point lead–zinc mine in the Northwest Territories. A preliminary economic assessment for the project has been completed, and the company released the latest drill results from Pine Point in early May.


    The company has negotiated option agreements to acquire the Clear Lake zinc-lead-silver deposit in the Yukon and the Davidson molybdenum deposit in BC. It is also exploring the Darnley Bay gravity anomaly in the Canadian Arctic. The firm’s share price gained 33.33 percent last week to settle at 0.32.

    Comstock Metals

    Comstock Metals has two late-exploration-stage gold projects in Saskatchewan and the Yukon. In early May, the company released the latest drill results for its Preview SW project. The company is preparing for a summer drill program at the project, and it appears to be highly anticipated by some experts.
    Comstock Metals also has a gold project in Ontario, a uranium project in Saskatchewan and a polymetallic project in Mexico. The company’s share price rose 28 percent last week to close at $0.16.

    Amex Exploration

    Amex Exploration has two gold projects in Quebec. Its latest news came at the start of May, when it entered into an option agreement to acquire the Gowan property near the Kidd Creek mine in Ontario. Exploration President Victor Cantore said the firm will continue to add attractive properties to its portfolio. Amex Exploration’s share price rose 24.14 percent last week to close at $0.36.
    Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
    Don’t forget to follow us @INN_Resource for real-time news updates!
    Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
    Editorial Disclosure: Comstock Metals is a client of the Investing News Network. This article is not paid-for content. 

    drill resultsgold mine in africaglobe and mailindextsi jxgold investinggalane gold
    The Conversation (0)
    Go Deeper
    AI Powered
    Map of Ontario, Canada, with "Top 5 Canadian Mining Stocks This Week" text overlay.

    Top 5 Canadian Mining Stocks This Week: Onyx Gold Shines with 118 Percent Gain

    5 Top Weekly TSXV Stocks: Avanti Energy on Top

    5 Top Weekly TSXV Stocks: Avanti Energy on Top

    Latest News

    Sarama Resources Completes Mt Venn Gold Project Acquisition

    Heritage Announces LIFE Offering and Provides Corporate and Exploration Update

    Quarterly Activities/Appendix 5B Cash Flow Report

    Drilling Confirms High Grade Gold at Gladstone Prospect

    JZR Gold Announces Closing Of Non-Brokered Private Placement Offering Of Units For $1,800,000

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    LaFleur Minerals

     
    LFLR:CNX

    Pacgold

     
    PGO:AU

    Surface Metals

     
    SUR:CC

    Maritime Resources

     
    MAE:CC

    Triumph Gold

     
    TIG:CA

    Quimbaya Gold

     
    QIM:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×