5 Top Weekly TSXV Stocks: Sintana Energy Jumps 72 Percent on Namibia Deal

Weekly gain: 72.41 percent; market cap: C$394.55 million; current share price: C$1

Sintana Energy is a petroleum and natural gas explorer and developer with assets in Africa and Latin America.

The company saw a steep share price rise after announcing an exploration update from petroleum exploration license (PEL) 83 in Namibia’s Orange Basin this past Sunday (April 21). Sintana has exposure to PEL 83 through its indirect 49 percent interest in Custos Energy, a 10 percent working interest owner of the license.

Sunday's news was that Galp Energia (OTC Pink:GLPEF,ELI:GALP), the license operator and its primary stakeholder, has completed testing on the Mopane-1x well. In a release, Galp said in-place hydrocarbon estimates from the Mopane complex stand at approximately 10 billion barrels of oil equivalent or higher.

Sintana saw further gains on Wednesday (April 24), when it entered into a definitive agreement with Namibia’s Crown Energy to acquire up to 67 percent of the issued and outstanding shares of Giraffe Energy, which owns a 33 percent interest in PEL 79. The company said it will allow Sintana to expand its exposure to the Orange Basin.

Weekly gain: 72.22 percent; market cap: C$18.62 million; current share price: C$0.155

Adyton Resources is working to advance its flagship Feni Island gold project in Papua New Guinea.

The site has seen historic exploration, with 212 holes drilled over 18,813 meters. While limited work has been conducted by Adyton, a 2021 resource estimate reported an inferred quantity of 1.46 million ounces of gold on site. The company has been working to expand its gold resource and explore for copper at greater depths than previous exploration.

Shares of Adyton saw gains last week following Thursday's news that it has closed on C$1.5 million in financing and restarted exploration at Feni Island. The company said the initial focus will be to reprocess and reinterpret historical data with modern geophysical algorithms in order to provide optimized locations for detailed follow-up programs.

Weekly gain: 70.37 percent; market cap: C$21.07 million; current share price: C$0.23

Barksdale Resources is a copper exploration company focused on advancing its assets in Arizona, US.

The company’s flagship Sunnyside project has been in focus in 2024. The site is located in the Patagonia Mountains of Southern Arizona and covers approximately 21 square kilometers. Sunnyside is located adjacent to South32’s (ASX:S32,OTC Pink:SHTLF) Hermosa project, which received final development approval on February 15.

Exploration at Sunnyside began in September 2023, but was halted after 4,250 meters were drilled due to performance issues with the company's drill contractor. Barksdale announced on February 23 that it was seeking to partner with a new drilling group that will be able to execute its envisioned directional drilling program.

The final assays from Sunnyside's from SUN-003 drill hole were released on March 19, with the company reporting a highlighted intersection of 0.46 percent copper, 11.9 percent zinc, 3.8 percent lead, 377 grams per metric ton silver (g/t) and 0.028 g/t gold over 1.01 meters and from 1,550.67 meters in depth.

Shares of Barksdale rose just over 70 percent this past week, but it has not released any news.

Weekly gain: 52.94 percent; market cap: C$12.09 million; current share price: C$0.52

Formerly Kainantu Resources, the company announced on February 6 that it would be changing its name to South Pacific Metals. It is a gold exploration company primarily focused on the advancement of its SPMC South project.

SPMC South is an early stage project located in a region of Papua New Guinea that is known for gold panning. The most recent exploration results from the project came in March 2023, when the company said 63 samples from the site had returned up to 1.55 g/t gold, 20.8 g/t silver, 0.39 percent copper and 460 parts per million molybdenum.

The company also owns three other gold projects in Papua New Guinea: SPMC North, May River and Kili Teke.

The most recent news from South Pacific Metals came on April 18, when it announced it had closed on C$1.5 million in private placement financing. The company said it would use C$500,000 for exploration work on its properties in Papua New Guinea, with the remainder for general administrative and working capital purposes.

Weekly gain: 46.81 percent; market cap: C$22.01 million; current share price: C$0.345

LNG Energy is an oil and gas development and exploration company focused on operations in Latin America.

Its primary producing asset is the Sinu-San Jacinto 1 well in Northern Colombia. The site produces 36 million cubic feet per day and hosts 139 billion cubic feet equivalent of proven, probable and possible liquid natural gas reserves.

Shares of LNG Energy saw gains following an announcement this past Wednesday that it had signed a binding agreement with Venezuela’s national oil company, Petroleos de Venezuela, for the operation of the Nipa-Nardo-Niebla and Budare-Elotes hydrocarbon productive participation contracts.

The contracts will cover the operation of five onshore fields that currently produce 3,000 barrels of oil per day and will provide LNG Energy with 50 to 56 percent of the hydrocarbons produced.