On the TSXV last week, the top gainers were Meridian Mining, VR Resources, Discovery Metals, Discovery Resources and Dunnedin Ventures.
Last Friday (July 19), the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by 2.32 points to 590.35, a gain of 0.39 percent.
In general industry news, Barrick (TSX:ABX,NYSE:GOLD) decided to take full control of Acacia Mining (LSE:ACA,OTC Pink:ABGLF) in Tanzania, while MMG (ASX:MMG,HKEX:1208) has suffered a downturn in copper production thanks to protests earlier in the year.
Looking at junior miners and explorers on the TSXV, here are the top gainers over the last week:
- Meridian Mining (TSXV:MNO)
- VR Resources (TSXV:VRR)
- Discovery Metals (TSXV:DSV)
- Silver One Resources (TSXV:SVE)
- Dunnedin Ventures (TSXV:DVI)
Read on to find out what each company has been up to recently.
Meridian Mining produces manganese at its Espigão project in Rondonia, Brazil, where it’s doing additional exploration and development work. The company also has interests in the nearby Ariquemes tin joint venture, which is part of its dual strategy for a multi-commodity regional exploration program.
On the TSXV last week, Meridian’s shares were trading up by 89.47 percent at C$0.18.
VR Resources is a copper– and gold-focused company with five assets — four in Nevada and one in Ontario.
VR’s most recent release was an announcement detailing future exploration plans over the coming months at the Big Ten gold project in Nevada.
In Toronto, VR was trading at C$0.25 — up by 85.19 percent on the previous week.
The company has released three updates this month, including the securing of a drilling permit for its Monclova project and a C$9 million private placement that will include a C$7.7 million investment from Canadian billionaire investor Eric Sprott, who will own 19.9 percent of Discovery when the private placement closes.
By the end of last week, Discovery was trading at C$0.39, up by 65.96 percent over the week.
Silver One Resources
Silver One has three silver assets in Mexico, though its flagship is the past-producing Candelaria silver mine in Nevada, which it acquired from SSR Mining (TSX:SSRM).
On July 11, Silver One announced it had closed an oversubscribed financing that raised almost C$5 million, including a C$2 million investment from Eric Sprott, who has been on a bit of a spending spree. Sprott now owns 10.9 percent of Silver One, and is its largest shareholder.
On the TSXV, Silver One was trading at C$0.27 by the end of last week, up by 54.29 percent.
Dunnedin has four projects on its books, including copper projects in British Columbia and Arizona, and a diamond project in Nunavut.
The company hasn’t released any news in July so far, but in late June it announced it was going to extend the expiry dates of 8,957,000 outstanding Dunnedin warrants by two years.
On the TSXV last week, Dunnedin was trading up by 50 percent, reaching C$0.105 by Friday.
Data for 5 Top Weekly TSX 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 basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.