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The top gainer on the TSXV last week was Karmin Exploration. It was followed by Golden Dawn Minerals, Wealth Minerals, Quaterra Resources and Arian Silver.
The TSX Venture Exchange climbed last Friday to close the week at 692.45 points. While that’s a 0.04-percent increase from the previous close, it was not enough to offset the exchange’s losses earlier in the week.
Despite that drop, some companies were able to post solid gains last week. The top gainer was Karmin Exploration (TSXV:KAR), and it was followed by Golden Dawn Minerals (TSXV:GOM), Wealth Minerals (TSXV:WML), Quaterra Resources (TSXV:QTA) and Arian Silver (TSXV:AGQ).
Karmin Exploration
Toronto-headquartered Karmin Exploration posted the week’s biggest gain, with its share price rising 48.15 percent to close at $0.40. The mining and exploration company holds a 30-percent interest in the Brazil-based Aripuanã zinc project, which is one of the 10 largest zinc projects in the world. It also wholly owns the Aripuanã gold project in Brazil and the Peruvian Cushuro gold project.
The company did not release any news last week to explain the jump in its share price.
Golden Dawn Minerals
With a share price increase of 36.84 percent, Golden Dawn Minerals was the second-strongest gainer for the week; it ended at $0.13.
Though the company released no news last past week, on May 20 it provided an update on its recent activities and plans for the future. Golden Dawn has a lot going on, and among other things said it is in the process of permitting two 10,000-tonne bulk samples from the May Mac property. It also plans to “commence with exploration including underground drilling in the May Mac number #7 main access to confirm the extension of the historic AA Vein Zone.”
Wealth Minerals
Wealth Minerals holds a 75-percent interest in the N1 and N2 gold properties in Quebec. The company intends to begin drill testing at the properties this year to further assess their mineralization.
On May 25, Wealth Minerals announced the execution of a share purchase agreement with Coronet Metals (TSXV:CRF). Wealth will acquire the Yanamina gold property, which consists of five mining concessions in Peru, through the deal. Additionally, Wealth Minerals will assume responsibility for Coronet Metals’ outstanding debt. The company’s share price rose 27.66 percent last week and closed at $0.30.
Quaterra Resources
Quaterra Resources’ share price rose 25 percent to reach $0.08 by the end of last week. The company has 100-percent ownership of the Yerington copper project in Nevada, and in June 2014, signed an option agreement covering all its Yerington District assets with Freeport-McMoRan Nevada. Under the agreement, Freeport-McMoRan Nevada may earn 55 to 80 percent of Quaterra’s interest by spending between US$38 and US$388 million.
This week Quaterra did not release any news.
Arian Silver
Exploration and development company Arian Silver has two key projects: the 100-percent-owned Calicanto project and the 100-percent-owned San José project. Currently, the company is focusing its efforts and capital expenditures on San José.
On May 28, Arian released its financial statement for the first quarter of 2015. That pushed its share price up 16.98 percent to finish the week at $0.62.
Data for TSXV Top 5 articles is retrieved each Friday and reported on Monday. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included.
Editorial Disclosure: Quaterra Resources is a client of the Investing News Network. This article is not paid-for content.
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