5 Top TSXV Stocks: Highbank Resources Rises 90 Percent

After experiencing some losses on Monday, the S&P/TSX Venture Composite index (INDEXTSI:JX) came back gradually last week to finish at 594 points on Friday. The index gained 2 percent for the week overall, although it’s still down over 100 percent in the last three months.
Despite the rout, several resource companies on the exchange saw share price gains last week. Highbank Resources (TSXV:HBK) was the top gainer, and it was followed by Commerce Resources (TSXV:CCE), Nicola Mining (TSXV:NIM), Plateau Uranium (TSXV:PLU) and Cortez Gold (TSXV:CUT)

Highbank Resources

Highbank was up 90 percent last week, closing at $0.19 per share on Friday. The company is focused on developing its Swamp Point North aggregate deposit near Prince Rupert, BC. Last week, the company released its AGM results and noted that Malaysia’s Petronas is set to start construction on its US$36-billion LNG export terminal in BC this September.
“This is wonderful news as stated in previous news releases,” said Highbank CEO Victor Bryant. “Highbank has quoted on supplying a significant amount (700,000+ tons) of our construction aggregates to support this build.”

Commerce Resources

Commerce made the list of top gainers again last week, rising 50 percent to reach $0.12. Last Friday, the rare earths junior reported strong drill results from its Ashram rare earths deposit in Northern Quebec. There was no additional news to explain the company’s rise in share price last week.

Nicola Mining

Previously named Huldra Silver, Nicola Mining is an exploration company focused on a number of projects in British Columbia. The company also owns an active gravel pit near Merrit, BC.
On July 7, Nicola completed a preliminary exploration program at its Thule copper project, reporting the collection of a 0.9 percent copper sample from trench dump material. However, there was no new news to explain the company’s gain in share price last week. Nicola gained 33 percent to finish the week at $0.08.

Plateau Uranium

Plateau Uranium was up 29 percent last week to end at $0.33. The gain came as the advanced exploration and development company announced the start of an updated preliminary economic assessment (PEA) for its Peru-based Macusani Platueau uranium projects.
Ted O’Connor, the company’s CEO, commented, “[w]e are excited to have started work on updating the PEA for the Macusani plateau projects with our now larger and more robust resource base. This next major milestone is expected to provide for improved project economics and will enhance Plateau Uranium’s position as a future source of low-cost uranium production in the mining-friendly jurisdiction of Peru.”

Cortez Gold

Last week, Cortez rose 28 percent to hit $0.32. Cortez is a toll processor with a focus on the Altiplano processing plant, and is set to be acquired by Starcore International Mines (TSX:SAM). Like many of the companies on this list, Cortez released no news that would explain its share price rise.