5 Top Weekly TSXV Performers: Energy and Gold Explorers Buoy Market

1. Sintana Energy

Sintana Energy is engaged in hydrocarbon exploration and development in Colombia's Magdalena Basin.

Last Tuesday (February 22), Sintana upsized a previously announced public offering, citing “strong investor demand.” The energy firm hopes to raise a minimum of C$7.3 million and a maximum of C$11.5 million, with each unit priced at C$0.15. Sintana intends to use the funds to fulfill the US$3.5 million it owes as partial consideration for its proposed 49 percent acquisition of InterOil, a private company.

Last week, shares of Sintana rose 50.09 percent following the news, closing at C$0.28.

2. Finlay Minerals

Precious metals exploration company Finlay Minerals is currently developing assets located in BC.

In early February, Finlay entered a binding letter of intent with ATAC Resources (TSXV:ATC,OTCQB:ATADF) under which ATAC has the option to gain a 70 percent interest in Finlay’s PIL property. According to the statement, the deal will see ATAC pay C$1.9 million and spend C$12 million on work related to the project.

Shares of Finlay climbed 30.77 percent by Friday, ending the session at C$0.085.

3. GobiMin

Gold explorer GobiMin is presently exploring and developing the Sawayaerdun gold property in Xinjiang, China. The company and its subsidiaries also focus on investing in equity, debt and other securities.

GobiMin has not released any updates since November 2021, but its shares added 25 percent last week, closing the period at C$0.25.

4. Huntington Exploration

Huntington Exploration is building a portfolio of precious metals properties in Mexico and Canada, with its primary focus being its flagship El Grande gold project in the Mexican state of Nayarit.

Last Wednesday (February 23), the firm signed a definitive purchase agreement for the acquisition of Lago de Oro SA de CV, a subsidiary of Lago de Oro LLP; it will give Huntington access to the El Grande project.

“The pace of gold discoveries in western Mexico in recent years rivals virtually anywhere else in the world,” Bryan Wilson, president and CEO of Huntington, said in a press release. “Our acquisition of 550 square kilometres of strongly altered and mineralized ground at the southern end of the SMO gold-silver belt is remarkable and is even more so because this area has not seen a single drill hole in the modern era.”

Company shares were up 24.58 percent to C$0.28 last week.

5. Tag Oil

Tag Oil is an international oil and gas exploration company targeting opportunities in the Middle East and North Africa. The energy explorer did not release any news last week, but shares climbed 23.97 percent to hit C$0.44.