The Conversation (0)
The top gainers on the TSXV this week were Sennen Potash, Pure Energy Minerals, Novo Resources, Nemaska Lithium and Merrex Gold.
The S&P/TSX Venture Composite index (INDEXTSI:JX) fell nearly 3 percent this week to reach 576.6 points. The exchange has lost approximately 11 percent in the past month.
Still, a number of resource-focused companies managed to do well on the exchange this week. Sennen Potash (TSXV:SN) was the top gainer, and it was followed by Pure Energy Minerals (TSXV:PE,FWB:A111EG), Novo Resources (TSXV:NVO), Nemaska Lithium (TSXV:NMX,OTCQX:NMKEF) and Merrex Gold (TSXV:MXI).
Sennen Potash
Vancouver-based Sennen Potash is focused on developing its Monument potash project in Utah. Sennen’s share price gained 43 percent to close at $0.265 on Friday. On July 29, the company released the results of a technical report on Monument. There was no other news to explain Sennen’s recent rise in share price.
Pure Energy Minerals
Pure Energy Minerals is focused on developing its Clayton Valley lithium brine project in Nevada, near Rockwood Lithium’s Silver Peak mine. The company was up 57 percent this week, rising 15 cents to hit $0.42. Its share price spiked on Tuesday following the announcement of a collaboration agreement with SRI International to develop novel lithium extraction technologies. The project will be funded by the US Department of Energy.
Novo Resources
Novo Resources was up 27 percent at the end of the week, closing at $0.61 per share. The gold exploration company is focused on its Beatons Creek project in Western Australia, and reported results of 5.83 g/t gold in bulk trench samples from the project on Wednesday.
Nemaska Lithium
Nemaska Lithium is focused on developing its Whabouchi lithium project in Quebec, and is also planning to build a plant to produce battery-grade lithium hydroxide using its proprietary process. The company’s share price rose 25 percent to close at $0.225. On July 30, Nemaska received federal environmental approval for Whabouchi. There was no new news to explain the company’s rise in share price this week.
Merrex Gold
Rounding out the top five this week is Merrex Gold, an exploration company focused on its Siribaya gold project in Mali. Merrex has a 50/50 joint venture for the project with IAMGOLD (TSX:IMG,NYSE:IAG). The company reported drill results from the Diakha discovery at Siribaya this past Wednesday, with highlights including 34 meters of 11.99 g/t gold. Merrex’s share price rose just under 12 percent to finish the week at $0.19.
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: Pure Energy Minerals and Nemaska Lithium are clients of the Investing News Network. This article is not paid for content.
Related reading:
5 Top TSXV Stocks: Highbank Resources Rises 90 Percent
5 Top TSXV Stocks: Mission Gold Gains 68 Percent
5 Top TSXV Stocks: Temex Resources Jumps Over 80 Percent
5 Top TSXV: Antioquia Gold Rises 30 Percent
5 Top TSXV Stocks: GMV Minerals Rises 30 Percent