Last week’s other top-gaining stocks on the TSXV were Lithium Energi Exploration, Melior Resources, Giga Metals and China Minerals Mining.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed down 1.27 points on Friday (November 3) at 791.98 points.
During the week, Statistics Canada reported that the Canadian economy added 396,800 full-time positions from October of last year — that’s the strongest job growth since 2000.
Gold hit a one-week low on Friday, and silver was also on track for a weekly decline. Meanwhile, copper and other base metals were trending up and oil prices were at a two-year high.
Against that backdrop, a number of TSXV-listed mining stocks saw major share price increases last week. The five top gainers are as follows:
- New Nadina Explorations (TSXV:NNA)
- Lithium Energi Exploration (TSXV:LEXI)
- Melior Resources (TSXV:MLR)
- Giga Metals (TSXV:GIGA)
- China Minerals Mining (TSXV:CMV)
Here’s a look at what moved those companies’ share prices last week.
New Nadina Explorations
New Nadina Explorations is an exploration-stage company with two main properties: the Monument project in the Northwest Territories and the BC-based Silver Queen project.
The company’s latest news came on October 27, when it finished drilling the first target at Silver Queen. New Nadina didn’t release any additional news last week, but its share price jumped 330.51 percent to end the period at $1.27.
Lithium Energi Exploration
Lithium Energi Exploration is focused on the acquisition, exploration and development of lithium brine assets in Argentina. It recently acquired three corporations and gained a portfolio of projects that cover more than 128,000 hectares in the country.
The company did not release any news last week, but it was profiled in a Streetwise article by Peter Epstein on Wednesday (November 1). In it, Epstein explains the ways in which he thinks Lithium Energi stands out from its peers. The firm’s share price rose 124.32 percent last week to end at $0.83.
Melior Resources’ main asset is its Goodicum ilmenite and apatite mine in Australia. The company’s latest news came on October 26, when it said it intends to restart operations at its Goondicum ilmenite mine. Under an agreement in principle, Pala Investments will provide a $5.25-million loan facility.
Last week, Melior’s share price jumped 75 percent to close at $0.11.
Giga Metals is focused on metals used in modern batteries, and has a particular focus on nickel and cobalt. The company’s share price rose 44.07 percent last week to close at $0.85 after it announced that Phillip Robinson has joined its board of directors. Robinson is a member of the investment team at Pala Investments, a mining-focused multi-strategy investment firm.
China Minerals Mining
China Minerals Mining, formerly Hawthorne Gold, has two properties in BC that together make up the Cassiar gold project. The company has not put out any news since mid-October, but last week its share price rose 40.54 percent to close the week at $0.26.
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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 $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.