Odin Mining and Exploration was the top gainer for the week. It was followed by Critical Elements, Goldrock Mines, Pacific Booker Minerals and Chesapeake Gold.
The S&P/TSX Venture Composite index (INDEXTSI:JX) ended down just over 1 percent last week, losing 6 points to finish at 550.2 points.
Still, a number of resource stocks managed to do well during the week. Odin Mining and Exploration (TSXV:ODN) was the top gainer, and it was followed by Critical Elements (TSXV:CRE), Goldrock Mines (TSXV:GRM), Pacific Booker Minerals (TSXV:BKM,AMEX:PBM) and Chesapeake Gold (TSXV:CKG).
Odin Mining and Exploration
Ecuador-focused explorer Odin Mining rose 25 percent last week, closing at $0.30 per share. The company announced on October 9 that it has completed its acquisition of the Canrejos lands by obtaining the final two mineral titles that comprise the Canrejos project. However, there has been no further news that would explain the company’s share price rise last week. Mining entrepreneur Ross Beaty is Odin’s largest shareholder.
Critical Elements saw its share price rise nearly 20 percent last week, closing at $0.215 per share. The company is focused on its Rose tantalum–lithium project in Quebec. Critical Elements recently secured a take-or-pay offtake agreement for all products produced from the project. However, there has been no further news to explain last week’s rise in share price.
Goldrock is focused on developing its Lindero gold project in Argentina. It also holds the nearby Arizaro porphyry copper-gold deposit. The company received its longest lead time machinery for Lindero on September 8, and said on September 21 that basic engineering for construction of the project was nearing completion. There has been no additional news to explain last week’s rise in share price for the company. Goldrock’s share price was up 15.25 percent, at $0.34, last week.
Pacific Booker Minerals
Pacific Booker Minerals is focused on developing its Morrison project in British Columbia. The project has hit a bit of a roadblock as of late — after Pacific Booker won the right to have its environmental assessment for Morrison reconsidered after it was rejected by the provincial government in 2012, the assessment was put on hold following the 2014 Mount Polley tailings dam breach. In July, the BC Environmental Assessment Office said that the Morrison project would need to undergo further assessment.
Pacific Booker has since completed a private placement for $555,600 and added Michael McPhie as a consultant. However, there was no news last week to explain the company’s rise in share price. Pacific Booker’s share price was up 15.24 percent, at $2.42, last week.
Finally, Chesapeake Gold’s share price was up 11.39 percent last week, at $2.25. The company holds a number of precious metals projects in North America, and is currently focused on developing the Metates deposit in Mexico. Chesapeake reported in June that water management analysis in support of its updated prefeasibility study for Metates was nearly complete. However, there was no additional news to explain last week’s share price rise for the company.
Data for TSXV Top 5 articles is retrieved each Friday. Only companies with a market capitalization greater than $10 million are included.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pacific Booker Minerals and Critical Elements are clients of the Investing News Network. This article is not paid-for content.
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