- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
5 Top Weekly TSXV Stocks: Goldbank Mining Registers 77 Percent Gain
Last week's top-gaining mining and energy stocks on the TSXV were Goldbank Mining, Visionary Metals, PetroFrontier, SouthGobi Resources and Razor Energy.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) recorded a slight loss during the first trading week of the new year, dropping 1.56 points to close at 551.34 on Friday (January 5).
Statistics Canada released its December jobs report this past week. It indicates that employment was unchanged from the previous month, with the unemployment rate holding steady at 5.8 percent.
South of the border, the US Federal Reserve shared the minutes from its December meeting, at which the Federal Open Market Committee agreed to hold the benchmark interest rate at 5.25 to 5.5 percent. The minutes show that officials believe rates are likely at their peak, although they did not discuss when they may go down.
Markets were mixed this past week, with gold and silver prices reacting negatively to the Fed minutes, while the Dow Jones Industrial Average (INDEXDJX:.DJI), S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:IXIC) fell as they reacted to a stronger-than-expected American jobs report for December. The report reveals that the labor market added 216,000 jobs, which was 56,000 more than economists expected.
Against that backdrop, which TSXV-listed mining stocks rose the most? Read on to learn about the top gainers.
1. Goldbank Mining (TSXV:GLB)
Weekly gain: 76.67 percent; market cap: C$36.38 million; current share price: C$0.265
Goldbank Mining is a gold exploration company focused on its Klondike Leota gold project in the Eastern Klondike Goldfields near Dawson City in Canada's Yukon. The site hosts 1,049 active quartz hard-rock claims. Leota has a long history of exploration, with the first claim on the site being staked at Last Chance Creek in 1903.
Goldbank saw its shares gain ground after it announced this past Tuesday (January 2) that Jerry Lozynsky and Frank Garofalo have been appointed to the company's board of directors.
2. Visionary Metals (TSXV:VIZ)
Weekly gain: 42.86 percent; market cap: C$15 million; current share price: C$0.10
Visionary Metals is an exploration company focused on its King Solomon nickel project in Wyoming, US. The asset consists of 10.25 square kilometers of mining claims spread over 80 square kilometers in Fremont County.
The site hosts a 1,500 meter by 600 meter anomaly, with highlighted drill results of up to 0.42 percent nickel and 0.02 percent cobalt over 17 meters at shallow depths.
Shares of Visionary saw gains last week, but the company hasn’t released news since December 15, when it announced the results from its annual general meeting.
3. PetroFrontier (TSXV:PFC)
Weekly gain: 41.67 percent; market cap: C$19.86 million; current share price: C$0.085
PetroFrontier is a junior energy company working on the development of assets in Cold Lake and Wabasca, Alberta. The company’s projects are focused on the recovery of heavy oil using conventional vertical and horizontal wells, along with the production of sand with oil using cold heavy oil production with sand.
Shares of PetroFrontier saw significant gains this past week, but it did not release any news.
4. SouthGobi Resources (TSXV:SGQ)
Weekly gain: 41.03 percent; market cap: C$162.42 million; current share price: C$0.55
SouthGobi Resources is a coal-mining company with assets in Southern Mongolia near the border with China. Its flagship operation is the Ovoot Tolgoi mine, which consists of the Sunrise and Sunset pits, and has been producing since 2008. SouthGobi holds permits to mine until 2037.
The company also owns two additional properties in the region. The Soumber deposit is 20 kilometers east of the Ovoot Tolgoi mine, meaning that any potential mining of Soumber could share Ovoot Tolgoi’s infrastructure. Its third property is the Zag Suuj deposit, located 150 kilometers east of Ovoot Tolgoi and 80 kilometers from the Mongolia-China border.
The company climbed significantly this past week, but did not release news.
5. Razor Energy (TSXV:RZE)
Weekly gain: 40.43 percent; market cap: C$16.41 million; current share price: C$0.33
Razor Energy is an oil and natural gas company with assets in Central and Southern Alberta, Canada. Its Swan Hills/Kaybob region operations northwest of Edmonton consist of a 101,414 hectare land package, while its Southern Alberta region operations southwest of Calgary consist of a 31,646 hectare package producing medium-gravity oil.
In its Q3 results, released on November 23, Razor indicates that during the first three quarters of the year it produced 2,271 barrels per day of light oil, 5.51 million cubic feet per day of natural gas and 560 barrels of oil equivalent per day (boe/d) of natural gas liquids.
In a release this past Wednesday (January 3), Razor advised it was eliminating 1,110 boe/d of combined light oil and natural gas liquids production from its Swan Hills operation after the operator of the Judy Creek gas plant refused to process Razor’s deliveries due to a financial dispute that started on December 24. The company also said it was uncertain when or if the dispute could be resolved in the near term.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on January 5, 2023, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
- Gold Price 2023 Year-End Review ›
- Gold Price Forecast: Top Trends That Will Affect Gold in 2024 ›
- Top 5 Gold Stocks on the TSX in 2023 ›
- Top 5 Junior Gold Stocks on the TSXV in 2023 ›
The Beginner’s Guide to Investing in Gold(Part I, The Basics)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
Dean has been writing in one form or another since penning stage plays in his youth. He is a graduate of both Emily Carr University and Simon Fraser University, with a BFA in photography and a BA in communications.
As a writer, Dean has traveled throughout BC and the Pacific Northwest covering cultural events, interviewing small business owners and working alongside fellow writers and photographers from publications like Rolling Stone Magazine, Spin and the Georgia Straight.
Dean has a keen interest in investing, and enjoys learning about the mining industry and better understanding the technical aspects of trading. In his spare time, Dean is an avid home chef, ponders the space-time continuum and makes his own cider. On weekends he can be found cycling the Seawall, exploring farmers markets or sampling the city’s local craft breweries.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
Dean has been writing in one form or another since penning stage plays in his youth. He is a graduate of both Emily Carr University and Simon Fraser University, with a BFA in photography and a BA in communications.
As a writer, Dean has traveled throughout BC and the Pacific Northwest covering cultural events, interviewing small business owners and working alongside fellow writers and photographers from publications like Rolling Stone Magazine, Spin and the Georgia Straight.
Dean has a keen interest in investing, and enjoys learning about the mining industry and better understanding the technical aspects of trading. In his spare time, Dean is an avid home chef, ponders the space-time continuum and makes his own cider. On weekends he can be found cycling the Seawall, exploring farmers markets or sampling the city’s local craft breweries.
Learn about our editorial policies.