5 Top Weekly TSXV Stocks: Integra Gold Gains on Acquisition by Eldorado Gold

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose last week, increasing 0.75 percent to end at 806.9 points.
The market was buoyed by higher oil prices, though gold also fared well last week. The yellow metal gained 0.6 percent to reach $1,253.87 per ounce, its highest level in five weeks. Increased political turmoil in the US and a weaker US dollar are two factors that helped bump up gold during the period.
Against that backdrop, a variety of TSXV-listed mining stocks saw large share price jumps last week. The five top gainers are listed below — as can be seen, many of them are gold-focused companies:

• Integra Gold (TSXV:ICG)
• Northern Shield Resources (TSXV:NRN)
• Fura Gems (TSXV:FUR)
• Goldcliff Resources (TSXV:GCN)
• Independence Gold (TSXV: IGO)

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

Integra Gold

Integra Gold’s main asset is its Lamaque South gold project in Quebec. The company was 13 percent owned by Eldorado Gold (TSX:ELD,NYSE:EGO) until last week, when Eldorado announced plans to buy the remainder of Integra’s shares. The deal is worth about C$590 million, and Lamaque South will be Eldorado’s first asset in Canada. Integra’s share price rose 42.5 percent last week to close at $1.14.

Northern Shield Resources

Northern Shield Resources is a Canadian platinum-group metals exploration and development company. The firm is focused primarily on the Labrador Trough in Northern Quebec. The company announced on May 5 that it has begun geophysical survey work at its Huckleberry property in that area, and plans to start drilling in June. Last week its share price rose 30.77 percent to close at $0.09.

Fura Gems

Fura Emeralds completed its name change in April and is now known as Fura Gems. The exploration company operates in Canada, Barbados and Colombia. According to Reuters, its assets include the Iron Horse property in BC. Fura Gems’ share price gained 30.65 percent last week to end at 0.41.

Goldcliff Resources

Goldcliff Resources is currently focused on moving forward with permitting at its Pine Grove gold property in Nevada. Pine Grove is a joint venture with Lincoln Mining (TSX:LMG), and Goldcliff also holds the Panorama Ridge gold project and Ainsworth silver project in BC. Goldcliff Resources’ share price stood at $0.20 on Friday, up 29.03 percent from the start of the week.

Independence Gold

Independence Gold is a gold and silver exploration company. The firm has four early stage projects in the Yukon’s White Gold District and one advanced-stage project in BC. The company did not release any news last week, but still saw a share price rise of 24.32 percent to close at $0.23.
Data for 5 Top 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.
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Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.