The top gainer on the exchange this past week was North Arrow Minerals. It was followed by Largo Resources, Eloro Resources, ArPetrol and Energold Drilling.
The TSX Venture Exchange gained steadily this past week to close at 706.73 points. That capped a strong February during which the exchange gradually rebounded from a January drop.
North Arrow Minerals
North Arrow Minerals’ share price rose 44.83 percent this week to reach $0.84. On February 26, the company issued a press release detailing the discovery of yellow diamonds at the Qilalugaq diamond project. The project, which is located in Northern Nunavut, has already yielded 5,366 diamonds greater than +1 DTC.
“These initial diamond results are important as they clearly show that the yellow diamond population in the Q1-4 kimberlite is real and that yellow diamonds carry on into the grainer and carater diamond sizes,” said North Arrow President and CEO Ken Armstrong. Further development of the site will provide North Arrow with an 80-percent interest in the project, which is owned by Stornoway Diamond (TSE:SWY).
Largo Resources operates four mining projects spread through Brazil and Canada. The company’s share price ticked up 33.63 percent to hit $1.26 on the news that Largo has received an indicative term sheet regarding its ongoing debt restructuring.
Pending acceptance from the lenders’ credit committees, the terms will defer Largo’s amortization repayment schedule for construction at its flagship Maracas Menchen mine. Maracas Menchen yields vanadium, a material used to strengthen steel alloys.
Canadian mineral exploration company Eloro Gold saw its share price rise to $0.15 for a gain of 25 percent this past week. Eloro holds a portfolio of gold and base metals properties in Peru, as well as Quebec.
This week the company granted options to arm’s-length consultants to buy 200,000 common shares of Eloro. They are exercisable at $0.15 per share at any time on or before February 27, 2020.
Energold Drilling provides specialty drilling services to mining and energy companies. Shares of the company grew 17.44 percent to hit $1.01 for the week. Energold operates over 230 drilling rigs in the Middle East, Africa, Asia and the Americas. The company did not provide news to explain the gain.
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.