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Last week's top-gaining resource stocks on the TSXV were Ophir Gold, Doubleview Gold, Q2 Metals, Gowest Gold and Delta Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the decline last week, finishing at 613.52.
Looking at the Canadian market, a preliminary estimate from Statistics Canada shows that retail sales in the country are expected to fall 1.4 percent month-on-month in March after dropping 0.2 percent from January to February.
In the mining space, gold continued to spend time above US$2,000 per ounce, although it closed below that amount.
Read on to see which TSXV-listed resource stocks saw the biggest share price gains last week.
1. Ophir Gold (TSXV:OPHR)
Weekly gain: 37.5 percent; market cap: C$17.71 million; current share price: C$0.22
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 Radis.
Although the company hasn’t released news in April, its share price moved from C$0.16 to C$0.22 over the course of the week.
2. Doubleview Gold (TSX:DBG)
Weekly gain: 26.83 percent; market cap: C$89.49 million; current share price: C$0.52
Doubleview Gold is an exploration and development company focused on its Hat copper-gold project in Northwestern BC, Canada. Over the past year, the company has been studying scandium recovery at Hat. The company also has the Red Spring project in Central BC, which is prospective for copper, gold, silver and zinc.
Last Tuesday (April 18), Doubleview Gold announced that assays from the Hat project will now be reported as copper equivalent, and that category will include gold, cobalt and scandium. Doubleview’s share price hit a weekly peak of C$0.55 the next day.
3. Q2 Metals (TSXV:QTWO)
Weekly gain: 26.53 percent; market cap: C$46.38 million; current share price: C$0.62
Q2 Metals is an exploration company focused on advancing its Mia lithium property in James Bay, Quebec. It also has the Stellar lithium property north of Mia, as well as the Big Hill and Titan gold projects in Queensland, Australia.
Q2 didn’t release news last week, but earlier this month it began a Phase 1 exploration campaign at Mia.
4. Gowest Gold (TSXV:GWA)
Weekly gain: 25 percent; market cap: C$43.27 million; current share price: C$0.20
Gold explorer and developer Gowest Gold owns the North Timmins gold project. The site includes the Frankfield property, which hosts the Bradshaw gold deposit. Gowest is working on restarting mining operations at Bradshaw with a target of April 2023.
Last Monday (April 17), Gowest announced the completion of a private placement financing for gross proceeds of C$25 million. The company’s share price hit a weekly peak of C$0.22 last Friday (April 21) morning
5. Delta Resources (TSXV:DLTA)
Weekly gain: 24.32 percent; market cap: C$28.64 million; current share price: C$0.46
Delta Resources is another Canada-focused gold company. Its projects are the Delta-1 gold-nickel-copper project in Ontario and the Delta-2 gold-copper project in Quebec. Delta kicked off the first phase of its two phase 2023 drilling program at Delta-1 in mid-January.
Delta released multiple pieces of news last week. The first came on Tuesday, when it announced that it has sped up its option agreement for Delta-1 with a payment of C$150,000 to the optioners. On Thursday (April 20), Delta released drill results from Phase 1 drilling at Delta-1; the two drill holes intersected wide zones of gold mineralization.
The company’s share price hit a weekly peak of C$0.49 in the hours before market close last Friday.
Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday after market close 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 are considered.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Silver Viper Minerals is a client of the Investing News Network. This article is not paid-for content.
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Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. With over six years as part of the INN team, Lauren is passionate about delivering accurate and informative content to investors.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
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Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. With over six years as part of the INN team, Lauren is passionate about delivering accurate and informative content to investors.
Learn about our editorial policies.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Learn about our editorial policies.