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The week’s top gainer on the TSXV was GMV Minerals. It was followed by Sandspring Resources, Quaterra Resources, Constantine Metal Resources and North Arrow Minerals.
The S&P/TSX Venture Composite index (INDEXTSI:JX) fell nearly 9 points last week to hit 670.58 points ahead of the referendum in Greece.
The week’s top gainer was GMV Minerals (TSXV:GMV). It was followed by Sandspring Resources (TSXV:SSP), Quaterra Resources (TSXV:QTA,OTCMKTS:QTRRF,FWB:QR2), Constantine Metal Resources (TSXV:CEM) and North Arrow Minerals (TSXV:NAR).
GMV Minerals
GMV is a gold exploration company focused on developing its Mexican Hat project in Southeast Arizona. The company has been fairly quiet since announcing on May 5 that it has increased its land holdings in Arizona, and there was no news to explain last week’s 30-percent rise in share price. GMV’s share price closed at $0.20 on Friday.
Sandspring Resources
Junior gold company Sandspring is working to develop its Toroparu gold project in Guyana. The company gained 26 percent last week to finish at $0.12, seeing most of that gain on Tuesday. Sandspring has a streaming agreement with Silver Wheaton (TSX:SLW,NYSE:SLW), and announced on June 26 that it has received its second instalment of US$500,000 from the company. However, there was no news that appears to have triggered last week’s gains.
Quaterra Resources
Quaterra is developing its copper projects in the Yerington district of Nevada with support from Freeport-McMoRan Nevada. On June 15, Freeport committed to moving ahead to Stage 2 of its option agreement with the company, meaning that Quaterra will see US$7.1 million in option payments over the next 12 months. Last week, there was no further news behind the company’s rise in share price. Quaterra’s share price rose 22 percent to finish the week at 11 cents.
Constantine Metal Resources
Constantine is an exploration company that holds several gold projects in Ontario and Yukon. However, its principal asset is the Palmer copper-zinc–silver-gold project in Alaska, being advanced with Dowa Metals & Mining. Last week, Constantine’s share price rose 22 percent to finish at 16 cents. The company filed its updated mineral resource for Palmer on Thursday June 25, but there was no additional news to explain last week’s gains.
North Arrow Minerals
Finally, diamond explorer North Arrow Minerals gained 19 percent last week to make the top five list. The company’s share price closed at $0.50; it share price dipped early last month when valuation results for a bulk sample from its Qilalugaq diamond project in Nunavut weren’t what many market watchers were expecting. There was no news behind the company’s rise in share price last 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.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Quaterra Resources and North Arrow Minerals are clients of the Investing News Network. This article is not paid-for content.
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