5 Top Weekly TSXV Performers: GobiMin Soars 300 Percent on Property Sale

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.

Last Thursday (July 14), GobiMin entered into a definitive agreement to sell Sawayaerdun for C$88 million. The purchaser is described as “a Hong Kong listed mining company” that has agreed to pay C$95 million in total for the property, of which C$7 million will be used as payment for Chinese taxes and transaction-related expenses.

“The decision to sell the gold project has been arrived at by careful consideration of all options open to us under the current economic and market conditions,” Felipe Tan, president and CEO, said in a statement.

Shares of GobiMin rose 337.02 percent following the news, ending the week at C$0.87.

Tsodilo Resources is a diamond, base and precious metals exploration company concentrated mainly on Botswana, where its assets include the Newdico, Gcwihaba and Bosoto projects. Aside from its Botswana properties, Tsodilo also operates in South Africa, where it has a 70 percent owned subsidiary.

The diversified explorer did not release any news last week, but still added 112.43 percent to close at C$0.70.

Great Bear Royalties is a precious metals-focused royalty company. The royalty-focused firm, which was incorporated in 2020, is a spinout from Great Bear Resources (TSXV:GBR).

Last Monday (July 11), Great Bear Royalties told shareholders it has entered into a non-binding agreement to be acquired by Royal Gold (NASDAQ:RGLD) for C$200 million.

“After a thorough strategic review process, we are very pleased to provide this all-cash premium offer to our shareholders,” Calum Morrison, president and CEO of Great Bear Royalties, said in a press release.

Earlier this year, parent company Great Bear Resources was purchased by Kinross Gold (TSX:K,NYSE:KGC) for approximately C$1.8 billion, leading to increased interest in Great Bear Royalties.

On Friday, shares of Great Bear Royalties were up 48.51 percent, trading for C$6.53.

Cordoba Minerals is a diversified company focused on the exploration, development and acquisition of copper and gold projects. Presently, Cordoba is developing its San Matias copper-gold-silver project, located in Colombia.

The explorer has not released any updates since the end of May, when it announced the start of a feasibility study technical work program at its San Matias project.

Cordoba shares climbed 46.24 percent last week to trade for C$0.73.

Butte Energy was previously engaged in the acquisition, exploration and development of petroleum and natural gas reserves in Western Canada. The company sold its last remaining asset in 2017 and currently has no active operations other than the completion of reclamation activities on previously abandoned wells.

Last Wednesday (July 13), Butte told shareholders it was granting 4,250,000 incentive stock options to certain directors, officers, consultants and charitable organizations at a price of $0.07 per share.

The options are exercisable for a period of 10 years and are subject to TSXV approval. By the end of the week, Butte had seen its share price climb by 43.06 percent to hit C$0.10.