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5 Top Weekly TSXV Stocks: Minsud Resources Jumps to the Lead
Apr. 30, 2023 07:40PM PST
Last week's top-gaining resource stocks on the TSXV were Minsud Resources, Peruvian Metals, Heliostar Metals, Maple Gold Mines and Falcon Oil & Gas.
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell slightly last week, ending the period at 612.3.
The US banking system was in focus again as First Republic Bank (NYSE:FRC) slid closer to ruin.
Meanwhile, gold sank below the US$2,000 per ounce level, although it remains historically high. Investors are watching closely to see what the US Federal Reserve does at its upcoming meeting, which is scheduled to run from May 2 to 3.
Read on to see which TSXV-listed resource stocks saw the biggest share price gains last week.
1. Minsud Resources (TSXV:MSR)
Weekly gain: 56.25 percent; market cap: C$106.53 million; current share price: C$0.75
Minsud Resources is an exploration company focused on its flagship Chita Valley copper project in Argentina, which it owns through its indirect subsidiary Minera Sud Argentina (MSA). The project is currently operated by MSA, while exploration is funded by South32( ASX:S32,LSE:S32,OTC Pink:SHTLF) subsidiary South32 Aluminum via an earn-in agreement.
South32 Aluminum recently exercised its right to acquire a 50.1 percent interest in MSA, the completion of which will take place on either February 14, 2024, or at the end of the fourth year of exploration — whichever comes first.
Last Thursday (April 27), Minsud granted 100,000 stock options to certain directors. In the same release, the company announced that its vice president of exploration, Mario Alfaro, has stepped down and Case Lewis has been appointed to the position. The company’s share price spiked to a weekly high of C$0.75 on the news.
2. Peruvian Metals (TSXV:PER)
Weekly gain: 44.44 percent; market cap: C$11.35 million; current share price: C$0.13
Peruvian Metals has an 80 percent interest in the Aguila Norte processing plant in Northern Peru. According to the company, it processes third-party material for clients and produces high-grade concentrates.
Peruvian Metals is currently focused on its Palta Dorada gold-silver-copper property, at which it is stockpiling mineral-rich material that it plans to process at its plant. Although the company has not released any news in recent weeks, its share price climbed through last week to hit C$0.13 on Thursday; it reached point again on Friday (April 28).
3. Heliostar Metals (TSXV:HSTR)
Weekly gain: 36.07 percent; market cap: C$59.11 million; current share price: C$0.415
Heliostar Metals is a gold development company with a portfolio of projects in Mexico and Alaska. It is currently developing its 100 percent owned Ana Paula gold project in Mexico
Although the company didn’t release any news last week, on April 19 it announced plans for a re-scoping of Ana Paula that would change the project's mine plan from open pit to underground. The company will be starting a drill program targeted at assisting that re-scope. Heliostar’s share price moved up last week to peak at C$0.415 at the close of trading on Friday.
4. Maple Gold Mines (TSXV:MGM)
Weekly gain: 30 percent; market cap: C$54.19 million; current share price: C$0.195
Maple Gold Mines is working to advance its Douay and Joutel gold projects in the Abitibi greenstone gold belt in Quebec. The projects are part of a 50/50 joint venture with Agnico Eagle Mines (TSX:AEM,NYSE:AEM).
Last Thursday, Maple announced that the first phase of deep drilling at the projects has been completed; it also shared preliminary observations on drill cores. The company anticipates it will receive assays this quarter. Its share price climbed over the course of last week to reach a high of C$0.195 on Friday.
5. Falcon Oil & Gas (TSXV:FO)
Weekly gain: 30 percent; market cap: C$172.32 million; current share price: C$0.195
Falcon Oil & Gas has a portfolio of oil and gas exploration assets in Australia, South Africa and Hungary. The company has a 22.5 percent interest in three exploration permits as part of the Beetaloo joint venture in Australia’s Northern Territory.
Last Friday, Falcon released its full-year 2022 results, which include an update on Beetaloo. The company’s joint venture partner has been progressing development of the Amungee 2H well, and recently completed a 25 stage stimulation program. According to the release, Falcon expects 30 day initial production rates in the second quarter.
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.
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