Last week’s top-gaining mining stocks on the TSXV were Perisson Petroleum, Mangazeya Mining, ePower Metals, Strongbow Exploration and Torq Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up on Friday (November 2), rising by 4.29 point, or 0.67 percent, to 649.24.
Last week, gold was generally up in value, copper was feeling pretty with lots of money being spent on it, recreational cannabis has gotten the nod from the Supreme Court in Mexico and the global markets had a sugar rush with news of a possible deal between the US and China that faded fast.
Scroll down to find out a little about what each company has been up to lately.
Perisson Petroleum is a Canadian oil-focused company with four assets in the oil fields of Alberta: Wayne, Provost, Twining-Rundle and Huxley. The company describes itself as operating on a long-term basis with goals well beyond the next cycle.
On Wednesday (October 31), it released an update on a private equity placement for US$50 million from private investment fund Lan-cheng Limited, which would be paying over C$1 per share.
Perisson said that with the US$50 million it will continue to look for suitable oil and gas acquisitions for product delivery into China.
On the TSXV, Perisson’s share price increased by 100 percent over the week, reaching C$0.45.
Russian-focused gold miner Mangazeya Mining has three gold assets in Zabaykalsky Krai in eastern Russia.
The company hasn’t released any news for the last two months, with its last release being its Q2 results way back at the end of August detailing a fall in gold production both quarterly and year-on-year.
However, with renewed interest in gold miners as the value of the precious metal bumps along at reasonable highs in the face of the trade war, Mangazeya’s share price was up by 40 percent on the TSXV, trading at C$0.035.
ePower Metals is focused on advancing a high-quality portfolio of cobalt, copper and manganese projects that the company believes are undervalued, strategically positioned and have significant potential to provide future supply to the growing rechargeable battery industry.
The company, which has projects in British Columbia, Idaho and Suriname, did not release any news last week, but on the TSXV, ePower Metals was up 40 percent, trading at C$0.28.
The last time Strongbow Exploration — a tin-focused company with interests in the US and UK — appeared on this list was October 21.
Since then, it has released no new news, but its share price has continued to rise over the two weeks since announcing 2 percent NSR royalty on the Shovelnose project, owned by Westhaven Ventures, which made a high-grade gold discovery there.
Strongbow’s share value is now at C$0.215 — an increase of 34.38 percent over the five-day period.
Canadian explorer Torq Resources has C$13 million in the bank and it’s looking to spend it.
The company is focused on gold, and in its most recent release on October 23, it announced it was giving up property options in Utah and Newfoundland that didn’t tickle its fancy, freeing it up to splash that cash someplace else.
The relinquishment of two options leave it with just the Speedway property in Utah, where it’s conducting an ongoing geological investigation.
On the TSXV, Torq was trading at C$0.425 on Friday, up 30.77 percent over the course of the week.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using tradingview.com. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: ePower Metals is a client of the Investing News Network. This article is not paid for content.