5 Top Weekly TSXV Stocks: Colonial Coal Burns Bright with 40 Percent Gain

Weekly gain: 40.63 percent; market cap: C$293.9 million; current share price: C$1.80

Colonial Coal owns a 100 percent interest in two resource-stage metallurgical coal projects, Huguenot and Flatbed, in British Columbia’s Peace River coalfields. The Huguenot project covers an area of 7,592 hectares with measured and indicated resources of 277.7 million metric tons, and the Flatbed project covers 9,077 hectares with inferred resources of 298 million metric tons.

While the company does not have recent news, shares in Colonial increased 40 percent to reach a weekly high of C$1.80.

Weekly gain: 38.67 percent; market cap: C$155.7 million; current share price: C$1.04

Minsud Resources is a mineral exploration company focused on operations in Argentina. Its flagship Chita Valley project hosts widespread porphyry copper-molybdenum-silver-gold mineralization. The site consists of three core properties, with five adjacent properties that total 19,883 hectares in the country’s San Juan province. The company also owns the La Rosita project.

Minsud hasn’t released news since early August, when it announced assay results from the Chinchillones target of its Chita Valley project that indicated grades of 0.97 percent copper, 9.48 grams per metric ton (g/t) silver and 0.45 g/t gold over 78 meters.

Weekly gain: 30.95 percent; market cap: C$35.39 million; current share price: C$1.10

Founders Metals is a junior exploration company that had interests in the acquisition of gold projects in North and South America, but pivoted when it gained ownership of its flagship property the Antino gold project in Suriname, which covers 20,000 hectares.

Shares in the company have been rising since it announced on October 6 that drilling results from Antino’s Froyo zone had revealed further high-grade gold, with a highlight interval of 4.06 g/t over 45.79 meters including 13.97 g/t over 6.8 meters. CEO Colin Padget noted, “The consistently robust gold grades … highlight the substantial potential of an extensive, high-grade gold system within the Upper Antino exploration camp.”

Weekly gain: 26.32 percent; market cap: C$66.98 million; current share price: C$0.48

Condor Resources engages in precious and base metals exploration in Peru. Supplemented by a project generator and royalty model, it maintains an active portfolio of a dozen targets and four joint venture agreements. Condor also has seven projects that are 100 percent owned, with two currently undergoing drilling programs.

The company’s most recent news also came on October 6, when the company indicated it had begun drilling at its Pucamayo East project and is planning a minimum of 2,000 meters and up to 15 drill holes. The news has helped to reinforce share prices that have been trending upwards since the start of the year, and the company’s share price reached year-to-date highs of C$0.48 this past Thursday, October 19.

Weekly gain: 25 percent; market cap: C$18.98 million; current share price: C$0.20

Ophir Gold is a mineral exploration company primarily focused on the exploration and development of its Radis lithium property in Eeyou Istchee James Bay, Québec. It acquired the option to earn a 100 percent interest over a three-year period from Eastmain Resources, a subsidiary of Fury Gold Mines (TSX:FURY) in December 2022.

Ophir’s most recent news came on October 5, when it announced that it had completed its surface exploration program and shared that the discovery of a new lithium-bearing pegmatite has extended the Chou spodumene pegmatite showing at the Radis lithium property to approximately 4.5 kilometers. Drilling on site is expected to begin in Q1 2024.