Other top gainers last week included Melkior Resources, NV Gold, Southern Silver Exploration and Pele Mountain Resources.
Last Friday (May 25), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 0.07 points, or 0.01 percent, to close at 763.03.
Talk of tariffs dominated the headlines last week, with the US and its trading allies arguing over whose end of the stick is shorter.
Currently America’s trading partners are sticking tariffs on US imports in retaliation, while in Europe markets are watching Italy as negotiations on forming government continue between anti-establishment parties. Spain changed leaders while nobody was looking and the markets barely reacted.
In Toronto, the TSX opened flat on Friday before inching upwards. Losses in financial stocks weighed down the numbers. On the Venture, several exploration companies made moves, including New Stratus Energy (TSXV:NSE), which made a move to buy Colombian oil and gas explorer Vetra Energia.
Here are the top five gainers in mining last week on the TSXV:
- Melkior Resources (TSXV:MKR)
- NV Gold (TSXV:NVX)
- New Stratus Energy
- Southern Silver Exploration (TSXV:SSV)
- Pele Mountain Resources (TSXV:GEM)
Canadian junior Melkior Resources released a slew of news last week, including maps and details about its Maseres project near Val d’Or in Quebec. It also announced a C$1-million private placement on Thursday (May 31) to raise proceeds for further exploration at its properties in Ontario and Quebec.
The market treated Melkior well for its torrent of news, with shares of the company going up 88.89 percent over the week to C$0.085.
NV Gold, another explorer from Canada, said last Monday (May 28) that its shares on OTC are now DTC eligible. According to the release, the company now trades in the US on OTC Markets under the symbol NVGLF. The previous week it released an update on exploration at its ATV gold project in Nevada, where it detailed data about recent drilling.
Shares of NV Gold rose 42.5 percent last week to reach C$0.285.
New Stratus Energy
Canadian oil and gas explorer New Stratus Energy on Thursday announced a proposed acquisition of Colombian explorer Vetra Energia for US$88.5 million. Vetra holds interests in eight producing and non-producing oil and gas properties in Colombia.
Under the proposed deal, New Stratus will acquire all the issued and outstanding shares of Vetra. At the same time and in connection with the deal, New Stratus announced a private placement offering of up to C$130 million. The company already holds licenses to 23 uranium properties in Northern Saskatchewan.
Shares of New Stratus, which was formerly known as Red Rock Energy, went up by 31.15 percent over the week to C$0.40.
Southern Silver Exploration
Precious and base metals exploration company Southern Silver Exploration released a corporate update on Tuesday (May 29), announcing it had issued 100,000 shares to Golden Capital Consulting, which it engaged to assist in formulating a capital markets strategic plan in Europe. Earlier in the month, the company released information about its Cerro Las Minitas project in Mexico, where it’s drilling 10,000 meters for silver and gold deposits.
Southern Silver’s share price gained 26.19 percent over the week to C$0.265.
Pele Mountain Resources
Pele Mountain Resources has projects throughout Ontario and California, as well as a renewable energy agreement with the city of Elliot Lake in Northern Ontario that was extended at the beginning of May. Pele is focused mainly on nickel exploration.
The company released financial statements for the six months ended March 31 last week on SEDAR. Pele’s share price went up 25 percent over the week to C$0.05.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.