5 Top Weekly TSXV Stocks: Luminex Rises 50 Percent on Adventus Acquisition News

Weekly gain: 120 percent; market cap: C$12.62 million; current share price: C$0.055

Adamera Minerals is a gold exploration company focused on the discovery of mineral resources near past-producing mines. Its key projects are in Washington, US. The company's flagship Buckthorn 2.0 project is located near Kinross Gold’s (TSX:K,NYSE:KGC) Buckthorn gold mine, which produced 1.3 million ounces of gold before it was shut down in 2017.

Shares of Adamera rose last week after the company said on November 16 that it has completed two drill holes at Buckthorn 2.0, both of which encountered thick sulfide zones. "The discovery of a thick body of non-outcropping disseminated sulfides coincident with the geophysics and only 1.5 kilometers from the former Buckhorn Gold Mine is potentially very significant," Adamera President and CEO Mark Kolebaba said in the release.

Weekly gain: 50 percent; market cap: C$19.88 million; current share price: C$0.315

Cantex Mine Development is an exploration and development company that is focused on its North Rackla project in Canada's Yukon. To date, the company has conducted 60,000 meters of drilling at the site, defining high-grade silver-lead-zinc-germanium mineralization over 2.3 kilometres of strike length and more than 700 metres depth.

Cantex was on the rise last week after completing the final hole of its fall drill program at North Rackla. It said on Wednesday that it intersected 89.25 meters of strong mineralization and is now awaiting further results.

In the same announcement, Cantex reported the closure of the final tranche of a private placement, saying it received C$2.9 million. The company will use proceeds in part to fund North Rackla.

Weekly gain: 50 percent; market cap: C$39.13 million; current share price: C$0.24

Explorer and developer Luminex Resources has gold and copper projects in Ecuador. Its flagship property is the Condor project, which has indicated and inferred resources of 6.6 million ounces of gold and 20.9 million ounces of silver.

Luminex's share price went up this past week after Tuesday's news that the company has agreed to be acquired by Adventus Mining (TSXV:ADZN,OTCQX:ADVZF). The combined entity will hold 13 projects for a total of 130,000 hectares in Ecuador, including Adventus’ El Domo copper-gold project. The transaction is expected to be completed in January 2024.

Weekly gain: 33.33 percent; market cap: C$59.78 million; current share price: C$0.14

American Creek Resources is an exploration company with a 20 percent interest in the Treaty Creek project located in the Golden Triangle in BC, Canada. The remainder of the project is owned by Tudor Gold (TSXV:TUD,OTC Pink:TDRRF), which holds 60 percent, and Teuton Resources (TSXV:TUO,OTCQB:TEUTF), which has 20 percent.

Shares of American Creek gained 33 percent this past week following Wednesday's news that Treaty Creek partner Tudor Gold has encountered what Tudor Gold President Ken Konklin called "surprisingly high gold values" from a step-out hole at the property's Goldstorm deposit. One drill hole includes an intercept of 12 meters grading 9.78 grams per metric ton gold, 1.35 grams per metric ton silver and 0.23 percent copper.

Weekly gain: 33.33 percent; market cap: C$19.78 million; current share price: C$0.12

Wolfden Resources is an exploration and development company focused on its Pickett Mountain volcanogenic massive sulfide project located in Penobscot County in Northern Maine, US. It sits within the Northern Maine volcanic belt portion of the Gander Terrane, which hosts numerous high-grade zinc, lead, copper and silver sulfide deposits.

The latest press release from the company was a project update on July 19, when Wolfden announced the completion of the steps necessary for a public hearing as part of a rezoning application in order to begin construction at the site. Even though there hasn’t been a recent update, shares of Wolfden gained 33 percent this past week.