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Mission Gold was the top gainer last week, followed by Golden Dawn Minerals, Armor Minerals, Baja Mining and Commerce Resources.
The S&P/TSX Venture Composite index (INDEXTSI:JX) fell steadily last week, losing 36 points to finish at 592 points on Friday. The S&P/TSX Composite index (INDEXTSI:OSPTX) also took a hit, with both indices suffering as a continued decline in metals prices kept pressure on mining stocks.
Still, several junior resource companies listed on the TSXV saw their share prices rise last week. Mission Gold (TSXV:MGL) was the top gainer, followed by Golden Dawn Minerals (TSXV:GOM), Armor Minerals (TSXV:A), Baja Mining (TSXV:BAJ) and Commerce Resources (TSXV:CCE).
Mission Gold
Mission Gold, previously Delta Gold, is a precious metals exploration company headed by David Lowell. Mission has gold projects in Mexico and California, as well as a titanium project in Paraguay. The company’s share price gained 68 percent last week to close at $0.32. On July 9, the company changed its name from Delta Gold to Mission Gold, and announced a 16-to-one share consolidation in connection with its acquisition of CIC Resources. There was no new news to explain Mission Gold’s rise in share price last week.
Golden Dawn Minerals
Golden Dawn was up 27 percent last week, with its share price closing at $0.14 on Friday. The company is focused on the development of its Greenwood project, located at the historic Mic Mac gold mine in British Columbia. On July 17, Golden Dawn optioned the Tam O’Shanter property from Kettle River Resources (TSXV:KRR). There was no additional news to explain last week’s gain in share price for the company.
Armor Minerals
Armor Minerals, formerly Rio Cristal Resources, was up 20 percent last week, with its share price closing at $0.145. The company announced its name change on May 11, and filed its audited financial statements and management discussion and analysis on SEDAR on July 24. There was no additional news to explain the company’s rise in share price last week.
Baja Mining
Baja Mining was up 20 percent this past week. Through Minera y Metalurgica del Boleo (MMB), Baja owns a 10-percent interest in the Boleo copper–cobalt–zinc–manganese project, located in Baja California Sur, Mexico. On Monday, the company confirmed that Boleo has completed its first shipment of copper, and announced that it has received further funding from MMB and Korea Resources.
Commerce Resources
Finally, Commerce Resources gained 14 percent last week to finish at $0.08. The rare earths exploration and development company is advancing its Ashram rare earths deposit in Northern Quebec. On Friday, Commerce reported additional results from its recently completed winter/spring drill program, announcing the intersection of the strongest heavy rare earths mineralization to date at the project.
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.
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