Alexander Nubia gained over 60 percent this past week despite releasing no news. Other significant gainers were Colt Resources, i-Minerals, Macusani Yellowcake and North Arrow Minerals.
The TSX Venture Exchange closed at 697.7 points on Friday, down 0.25 percent for the day. That capped a week of losses for the exchange following a pronounced dip on Tuesday.
Despite the decline, some companies posted strong gains for the week. Alexander Nubia International (TSXV:AAN) led the way with a 64.71-percent increase, and it was followed by Colt Resources (TSXV:GTP), i-Minerals (TSXV:IMA), Macusani Yellowcake (TSXV:YEL) and North Arrow Minerals (TSXV:NAR).
Alexander Nubia International
Alexander Nubia International is based in Canada and explores and develops multi-commodity projects located in Egypt. These efforts are executed through a subsidiary company, Alexander Nubia.
The company’s share price rose 64.71 percent this past week to close at $0.14, though it has not released any news since April 14, when it added targets to the diamond drill program taking place at its Hamama project.
The share price of exploration company Colt Resources grew 57.14 percent to hit $0.22 this week. The company is focused on its wholly owned, advanced-stage tungsten and high-grade gold projects in Portugal. The company did not release any news to explain the improvement in share price, but did recently appoint two new members to its board of directors.
In September of last year, the superior court in Mitchell County, North Carolina resolved a preliminary injunction filed by Unimin against i-Minerals in i-Minerals’ favor. This week, i-Minerals, a development company currently focused on two deposits located in Idaho, struck back with a lawsuit that accuses Unimin of abuse of process, malicious prosecution and unfair and deceptive trade practices.
The news that i-Minerals will seek damages drove its share price up 51.72 percent to close at $0.22 for the week.
Canada’s Macusani Yellowcake specializes in the exploration and development of uranium projects in Southeastern Peru. The company’s share price rose 41.67 percent during the week to end at $0.09. The company did not release any news that would explain the rise.
North Arrow Minerals
North Arrow Minerals, a Canadian exploration company that seeks out diamond opportunities in Canada, saw its share price rise 29.47 percent over the course of the week, and finished trading at $1.23. The rise corresponded to the company’s announcement that diamonds from its Q1-4 kimberlite diamond parcel are rare type Ib diamonds, which known for their distinctive yellow color.
The company will complete final processing and sorting of diamonds for the parcel in late April.
Data for TSXV Top 5 articles is retrieved and reported each Friday. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included.