Precious Metals


Last week’s other top gainers on the TSX Venture Exchange were Marafil Mines, Medgold Resources, Fission 3.0 and Trigon Metals.

Last Friday (June 15), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 7.11 points, or 0.93 percent, to close at 754.15. 

Its counterpart, the S&P/TSX Composite Index (INDEXTSI:OSPTX), was weighed down by the energy sector on Friday, with oil well down. In global markets, disputes between the US and its trading partners dragged down commodities and depressed stock exchanges.

On the TSX Venture, precious metals moved three of last week’s five top gainers, with uranium and copper also making appearances.

  • Marafil Mines (TSXV:MFM)
  • Medgold Resources (TSXV:MED)
  • Fission 3.0 (TSXV:FUU)
  • Defiance Silver (TSXV:DEF)
  • Trigon Metals (TSXV:TM)

Here’s a look at those companies and the factors that moved their share prices last week.

Marafil Mines

Lithium-, gold– and cobalt-focused Marafil Mines enjoyed a healthy bump last week, with its share price up 40.37 percent at C$0.19 on Friday; it touched a high of C$0.22 during the week. While Marafil did not release any news last week, the Argentina-centered company has been on the up since it announced plans to recommence drilling at its San Roque property on June 6.

Medgold Resources

On Monday (June 11), Serbia-focused gold explorer Medgold Resources received results from first drilling at its Tlamino gold project in the south of the European country. According to the company, the assays came back with 30.82 meters grading 2.06 g/t gold and 54.7 g/t silver from 2.38 to 33.2 meters in one drill hole, and 34.65 meters of 3.11 g/t gold and 27.5 g/t silver from 13.35 to 48 meters in another.

Investors clearly liked the results, with the company’s share price up 32.26 percent over the week to C$0.41 by Friday; Medgold reached a high of C$0.46 during the week.

Fission 3.0

Canadian uranium explorer and project generator Fission 3.0 has multiple prospects in the Macusani region of Peru and across the Athabasca Basin of Northern Saskatchewan.

On Tuesday (June 12), the company detailed plans to conduct a summer drill program at its Patterson Lake project in Canada, which the company says is highly prospective for high-grade uranium at a shallow depth. Over the five-day period, the company’s share price jumped 29.94 percent to C$0.16.

Defiance Silver

Mexico-focused silver explorer Defiance Silver operates in the Zacatecas district of Central Mexico. On Wednesday (June 13), Defiance acquired MAG Silver’s (TSX:MAG) holdings in the same region, significantly expanding its holdings. Investors reacted with a 16.67-percent boost to the company’s share price, which reached a high of C$0.38 during the week and settled at C$0.35 on Friday.

Trigon Metals

Copper-focused explorer Trigon Metals has its sights set on Namibia, where it has five licenses and a flagship asset, Kombat. On June 7, the company released a feasibility study for Kombat, which includes a plant restart. Shares in the company rode the wave of investor confidence well into last week, with the firm’s share price up 15.39 percent to C$0.22 by Friday.

Data for 5 Top 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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Fission 3.0 is a client of the Investing News Network. This article is not paid-for content.


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