Cub Energy was the top gainer on the TSXV last week. It was followed by American CuMo Mining, Abacus Mining & Exploration, CB Gold and Lion One Metals.
The S&P/TSX Venture Composite index (INDEXTSI:JX) was up modestly last week, gaining 0.45 percent to finish at 549.91 points
A number of companies from the resource sector were also up for the week. Cub Energy (TSXV:KUB) was the week’s top gainer, followed by American CuMo Mining (TSXV:MLY,OTCPINK:MLYCF), Abacus Mining & Exploration (TSXV:AME), CB Gold (TSXV:CBJ) and Lion One Metals (TSXV:LIO).
Oil– and gas-focused Cub Energy was up 60 percent last week, with its share price closing at $0.04. The company is focused on the Black Sea region, with 355,000 gross acres in Ukraine. Cub put out its Q2 financial results on August 13. There was no new news from the company last week to explain its rise in share price.
American CuMo Mining
American CuMo saw its share price rise 56 percent last week to hit $0.125. The company is developing the CuMo moly–copper–silver project near Boise, Idaho. In April, American CuMo hit a major stepping stone in the permitting process for the project, and it filed an updated resource estimate for CuMo in August (results were initially released in July). There has been no further news from the company that would explain last week’s rise.
Abacus is working to advance its Ajax copper-gold project in BC with joint venture partner KGHM Polska Miedz (WSE:KGH). The junior rose 50 percent last week to close at $0.75 per on news that an environmental assessment application was submitted for Ajax. Abacus Mining’s share price is up approximately 87 percent year-to-date.
CB is focused on the exploration and development of precious metals assets in Colombia, and is specifically focused on its Vetas gold project in the country. For some time now, fellow Colombia-focused junior mining companies Red Eagle Mining (TSXV:RD) and Batero Gold (TSXV:BAT) have been vying for a takeover of CB Gold.
CB’s share price was up 27 percent last week, to $0.07, as the squabble continued; Red Eagle stated it had acquired more shares of CB last week, while CB reiterated its support for Batero’s offer.
Lion One Metals
Finally, Lion One Metals was up 25.49 percent last week to finish at $0.32 per share. The company is focused on advacing its Tuvatu gold project in Fiji. In July, Lion One filed results of a preliminary economic assessment for Tuvatu, the results of which were initially announced in June. There has been no more recent news from the company that would explain last week’s rise in share price.
Data for TSXV Top 5 articles is retrieved each Friday. Only companies with a market capitalization greater than $10 million are included.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: American CuMo Mining is a client of the Investing News Network. This article is not paid for content.
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