5 Top Weekly TSXV Stocks: Pure Energy Minerals Takes the Lead

Weekly gain: 131.82 percent; current share price: C$1.02; market cap: C$29.06 million

Lithium company Pure Energy Minerals is focused on its Clayton Valley lithium brine project in Nevada, US, which is operated by its strategic partner SLB (NYSE:SLB). The two companies plan to construct a direct lithium extraction pilot plant at the project, which will be used to process brines into lithium hydroxide monohydrate and lithium carbonate. In March, Pure Energy announced that it has received all the permits it needs for the construction and operation of the pilot plant.

After starting last week at C$0.48, Pure Energy's share price hit an intra-day weekly high of C$1.27 last Wednesday (May 10); the company did not release any news to coincide with its performance.

Pure Energy shared a statement on Wednesday in response to its share price activity, stating that it is “not aware of any material undisclosed developments and has no material information or change to report at this time.”

Weekly gain: 31.91 percent; current share price: C$0.31; market cap: C$25.83 million

Surge Battery Metals is true to its name, with the Nevada North and Teels Marsh lithium projects in Nevada and the Surge nickel project in BC, Canada. The company reported positive results from metallurgical testwork at Nevada North in early May.

Last Thursday (May 11), Surge contracted environmental consultants to assist with permitting and collecting baseline data for Nevada North as preparation for its exploration plan of operations and reclamation plan. The company’s share price climbed to C$0.31, a weekly high, the next day.

Weekly gain: 31.43 percent; current share price: C$0.23; market cap: C$61.72 million

SouthGobi Resources is a coal company operating its Ovoot Tolgoi mine in Mongolia; it has two other coal deposits in the country as well.

SouthGobi released multiple statements over the last trading week. Last Sunday (May 7), the company shared that it achieved a net profit in Q1 of US$5 million to US$9 million, with final numbers to be released on May 19 once its Q1 results are audited. The next day it announced the resignation of a non-executive director and shared an updated list of its board members.

The company’s share price rose throughout the week to hit a weekly high of C$0.23 by the close of trading last Friday (May 12).

Weekly gain: 27.03 percent; current share price: C$0.235; market cap: C$20.94 million

Ophir Gold is a lithium and gold company with options to earn 100 percent interests in the Radis lithium property in James Bay, Quebec, and the Breccia gold property in Idaho, US. In March, the company acquired three mining claims contiguous to the Radis property.

Last Wednesday, Ophir announced a non-brokered private placement of charity flow-through units for up to C$3 million. Its share price rose to a weekly high of C$0.26 the next day.

Weekly gain: 26.67 percent; current share price: C$0.19; market cap: C$19.43 million

VR Resources has a portfolio of exploration projects in the US and Canada that are focused on a variety of resources, including critical metals, diamonds, precious metals and copper.

VR closed a C$1.8 million non-brokered private placement last Tuesday (May 9), and its share price hit a weekly high of C$0.22 the next day. On Thursday, the company shared that it was strengthening its corporate framework as it prepares to commence 2023 exploration at its Northway diamond project and Hecla-Kilmer rare earths and critical metals project in Ontario, Canada.