5 Top Weekly TSXV Stocks: Mountain Boy Minerals Up on Golden Triangle News

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 0.61 percent on Friday (July 7) to end at 755.22 points.
The index fell on North American jobs data that supports expectations that central banks will raise interest rates in the US and Canada. The US added 222,000 jobs in June, higher than Wall Street expectations of 175,000, while Canada added 45,300 jobs, ahead of the anticipated 10,000.
On the back of those factors, a number of  TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

• Ashburton Ventures (TSXV:ABR)
• Gold Reserve (TSXV:GRZ)
• Mountain Boy Minerals (TSXV:MTB)
• Strata Minerals (TSXV:SMP.H)
• Meridian Mining (TSXV:MNO)

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

Ashburton Ventures

Ashburton Ventures is a diversified exploration company with lithium, graphite, copper-gold, zeolite, chabazite and cannabis projects in Quebec and BC.
On July 5, the firm announced that sample data from lab results indicates that cannabis plants potted with zeolite and zeolite-carbon blends show a high retention of key macronutrients in the root zone. The news sent the company’s share price up 45 percent to close at $0.16.
The company applied to the BC Ministry of Energy and Mines for permits to develop its TransCanada zeolite property last month. The project is jointly operated with ZMM Canada Minerals.

Gold Reserve

Gold Reserve provided an update on its Brisas Cristinas project last week; it is 55-percent owned by its subsidiary, and 45 percent owned by Venezuela. The company said its next payment under a settlement agreement with the Venezuelan government is expected on July 10. The government’s monthly payments will continue until July 2019.
An updated feasibility study and environmental impact statement are currently in the works for Brisas Cristinas. A preliminary economic assessment is expected to be ready in the next few months as well. The company’s share price rose 36.11 percent over the course of last week to close at $4.70.

Mountain Boy Minerals

Mountain Boy Minerals is a Canada-based exploration company that has properties around the Stewart region in BC’s Golden Triangle.
On July 5, the firm reported that Phase I drilling continues at its Red Cliff property. The company recently completed a petrographic study that is ”greatly aiding the 2017 exploration,” and it has started to identify rock formations at the site. Three holes in the Montrose zone on the property contain “visible gold at depths deeper than expected.”

The next day, Mountain Boy released another update explaining that moving forward it also plans to focus on its other Golden Triangle properties. Those include a zeolite property and its Surprise Creek and BA properties. The company’s share price rose 33.33 percent to close at $0.07 last week.

Strata Minerals

Strata Minerals’ most recent news came on June 30, when it acquired the Arnett Creek gold project in Idaho. The company plans to continue developing the advanced-stage exploration project with a focus on the Little Chief Extension target.
In addition, Strata said it has taken steps to change its name to Revival Gold in order to better reflect its new direction. Once regulatory approval is granted it will trade under the symbol RVG on the TSXV. Company CEO Hugh Agro said at the time that the change “marks the Company’s transition to gold and focus on growth in brownfields mining camps.”
The firm did not release any news last week, but its share price rose 28.57 percent to close at $0.50.

Meridian Mining

Meridian Mining is focused on its Espigao manganese project and Bom Futuro tin joint venture property in Brazil. Most recently, on June 21, Meridian signed a contract for the sale of 20,000 tonnes of high-grade manganese from Espigao to an unnamed international customer.
Anthony Julien, president and CEO of Meridian Mining, said, “the sale marks an important milestone for Meridian, and represents approximately one-third of our estimated production for 2017.” Julien added that commissioning of the company’s pilot plant is expected in the coming weeks and said the firm is “well on the way to growing production capacity to 50,000 tonnes per annum.”
The company did not release any additional news last week, but its share price rose 27.59 percent to close at $0.74.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.