Resource News


The five top gainers on the TSXV were Temex Resources, American CuMo Mining, Carube Copper, Millrock Resources and Crystal Peak Minerals.

The S&P/TSX Venture Composite index (INDEXTSI:JX) took a dip this week, falling 12 points to close at 628.81 points on Friday. 
Still, despite the downward pressure on the index, a number of junior mining companies managed to post gains. The five top gainers on the TSXV this week were Temex Resources (TSXV:TME), American CuMo Mining (TSXV:MLY), Carube Copper (TSXV:CUC), Millrock Resources (TSXV:MRO) and Crystal Peak Minerals (TSXV:CPM).

Temex Resources

Temex’s share price rose an impressive 83.33 percent for the week, even gaining as much as 110 percent at one point, after it received a rival takeover bid from Lake Shore Gold (TSX:LSG). The offer came as a surprise for many as the company is already engaged in a five-way gold company merger with Oban Mining (TSX:OBM), Eagle Hill Exploration (TSXV:EAG), Ryan Gold (TSXV:RYG) and Corona Gold (CSE:CRG). Now that another offer is on the table Oban has 10 business days to either match or beat it, at which time Temex could instead sign with Lake Shore.

American CuMo Mining

American CuMo’s share price has been gaining steadily all year, and last week was no different — it went up by 78.57 percent. The company recently released a new mineral resource estimate for its CuMo molybdenumcoppersilver deposit in Idaho. The new estimate confirms that the deposit is now the largest unmined, open-pit molybdenum deposit in the world.

Carube Copper

Just one week after joining the TSXV, Carube’s share price jumped 28.57 percent. The copper and gold exploration company’s main focus is on projects in Jamaica and Canada, and it went public after completing a reverse takeover transaction with Miocene Resources midway through June.

Millrock Resources

Millrock saw its share price go up 20 percent this week, a boost that could be attributed toThursday’s news that it has began drilling at the Alaska Peninsula copper-gold project. The program, which is being managed by Millrock and funded by First Quantum Minerals (TSX:FM,LSE:FQM), will consist of approximately eight drill holes totaling roughly 2,400 meters.

Crystal Peak Minerals

Crystal Peak, formally EPM Mining Ventures, saw its share price go up by 20 percent this week, closing at $0.30 at end of day Friday. The company currently controls over 124,000 acres on the Sevier Playa in Millard County, Utah, with plans to produce sulfate of potash and other minerals there using an environmentally-friendly solar evaporation process.
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, Kristen Moran, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: American CuMo is a client of the Investing News Network. This article is not paid-for content.
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5 Top TSXV Stocks: Quaterra Resources in Top Spot Following Freeport News
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