5 Top TSXV Stocks: Sunridge Gold Spikes on Sale of Asmara Interest
Sunridge Gold was the top-gaining stock on the TSXV last week, followed by Eloro Resources, Rye Patch Gold, Crystal Peak Minerals and Tintina Resources.
The S&P/TSX Venture Composite index (INDEXTSI:JX) sank another 1.39 percent last week, closing out at 534.28 points. The exchange has lost 46 percent over the past three months and 161 percent since the start of 2015.
Still, a number of resource-focused companies continue to enjoy share price gains. Sunridge Gold (TSXV:SGC) was the top riser last week, followed by Eloro Resources (TSXV:ELO), Rye Patch Gold (TSXV:RPM), Crystal Peak Minerals (TSXV:CPM) and Tintina Resources (TSXV:TAU).
Canadian explorer Sunridge Gold is focused on developing base metals and gold deposits in Africa, and is specifically focused on its Asmara project in Eritrea. The junior miner’s share price spiked on Friday after it announced it has entered an agreement to sell its 60-percent interest in Asmara to China’s Sichuan Road & Bridge Mining Investment Development for an upfront payment of US$65 million. Sunridge was up 41 percent for the week, trading at $0.24.
Eloro’s share price rose 16.67 percent last week to end at $0.14. The company holds a 60-percent interest in the La Victoria gold-silver property in Peru, and holds a number of gold, base metals and royalty properties in Quebec. On October 8, Eloro released assay results from channel samples taken from the Rufina East and Rufina West mineralized zones, with results ranging from 1.33 g/t gold and 15 g/t silver to 16.6 g/t gold, 157.3 g/t silver and 1.41 percent copper. There has been no further news from the company to explain last week’s rise in share price.
Rye Patch Gold
Last week, Nevada-focused Rye Patch Gold was up 16 percent, closing at $0.145 per share. The company received a quarterly royalty payment of C$1,462,300 on October 29, and has received C$4,802,300 in royalty payments since the start of 2015. Rye Patch also began drilling at its Gold Ridge project on October 28. However, there has been no further news to explain last week’s gain for the company.
Crystal Peak Minerals
Crystal Peak, previously EPM Mining Ventures, is a junior potash company focused on its holdings in the Sevier Playa in Utah. The company intends to produce sulfate of potash from the project using a solar evaporation process.
The company’s share price was up 15.15 percent, to $0.19, last week. There was no news from the company to explain the rise in share price.
Finally, copper junior Tintina Resources was up 14.29 percent last week to end at $0.08. Last Thursday, Tintina announced an update for development plans for the Johnny Lee copper deposit at its Black Butte copper project in Utah. It includes details regarding a tailings management facility for the project.
“We are excited to display our commitment to building one of the most environmentally sound copper developments worldwide,” said Tintina’s president and CEO, Bruce Hooper.
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.
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