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The top gainer this past week was Arena Minerals. True Gold Mining also posted a big gain after resuming activity at its Karma gold project.
The TSX Venture Exchange finished strong this week, closing at 703.48 points. Next week may be a little quiet given that Monday is a US trading holiday.
The top gainer this past week was Arena Minerals (TSXV:AN). It was followed by True Gold Mining (TSXV:TGM), Maya Gold & Silver (TSXV:MYA), Northern Vertex Mining (TSXV:NEE) and Houston Lake Mining (TSXV:HLM).
Arena Minerals
Arena Minerals’ share price started off the week at $0.18, but increased steadily to close at $0.24. That’s a gain of 30.56 percent.
The Canada-based company is conducting exploration in some of Chile’s top gold and copper districts. Its flagship asset is the Atacama copper project, and its other projects are called Capricornio and Pampas El Penon. This past week Arena did not release any news.
True Gold Mining
News that True Gold has resumed activity at its Karma gold project was released May 19. The company’s share price rose $0.03 that day, and by the end of the week had increased 25 percent to hit $0.25.
The company also said in its release that it expects to pour first gold at Karma by March 2016, noting that the project is fully funded up to that point. “We are pleased to be returning to work at Karma with the support of the Government of Burkina Faso and leaders in the local community,” said Christian Milau, president and CEO of True Gold. “As we move toward full construction, we remain committed to delivering long-lasting benefits to the local communities and to the country.”
Maya Gold & Silver
Maya Gold & Silver has a variety of properties in underdeveloped locations in Morocco, and is looking to be the first company to capitalize on the privatized mining industry in the country. Based in Canada, Maya’s primary objective at this point in time is to expand operations at its Zgounder silver mine.
The company’s share price increased 23.4 percent this past week, recording a final listing price of $0.29. No news was released by the company during the period.
Northern Vertex Mining
Northern Vertex Mining’s share price finished the week at $0.18, a 20-percent improvement from the week prior. The company is targeting production at the Arizona-based Moss Mine gold-silver deposit in which it’s earning a 70-percent interest via a joint venture option agreement with Patriot Gold (OTCMKTS:PGOL). It has been drill tested to depths of 370 meters vertically.
Like many of the companies listed, Northern Vertex did not release any news this past week.
Houston Lake Mining
Houston Lake Mining’s share price closed the week at $0.19 for a weekly gain of 18.75 percent. It started the week at $0.155.
The company is currently advancing its PAK lithium project in Ontario. Though Houston Lake received a positive response to its new debt financing plan earlier in the month, it did not release any news this past week.
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.
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