Last week’s top-gaining TSXV mining stocks were ReconAfrica, Wealth Minerals, Quantum Minerals, Noram Ventures and Pure Energy Minerals.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended upward last week, opening on Monday (January 11) at 885.77 and closing at 907.74 on Friday (January 15).
The TSXV-listed mining stocks below saw the biggest share price moves last week:
- Reconnaissance Energy Africa (TSXV:RECO)
- Wealth Minerals (TSXV:WML)
- Quantum Minerals (TSXV:QMC)
- Noram Ventures (TSXV:NRM)
- Pure Energy Minerals (TSXV:PE)
Here’s a look at what may have moved their share prices over the last five days.
1. Reconnaissance Energy Africa
Reconnaissance Energy Africa (ReconAfrica) is an oil and gas junior with petroleum licenses covering about 8.5 million contiguous acres in the Namibia- and Botswana-based Kavango Sedimentary Basin.
Last Monday, ReconAfrica began drilling the first of three wells at the Kavango Sedimentary Basin. The news sent the company’s share price up 76.62 percent to finish at C$4.08.
2. Wealth Minerals
With interests in Canada, Mexico, Peru and Chile, Wealth Minerals is focused mainly on acquiring and developing lithium projects in South America. The company has set itself up to develop the Quisquiro salar and holds a position in the Atacama salar, both located in Chile.
Wealth Minerals did not release any news last week, but it still rose 75 percent to finish at C$0.18.
3. Quantum Minerals
Junior explorer Quantum Minerals is focused on properties in Manitoba, and its flagship asset is the Irgon lithium property in the province. Irgon is a historic rare metals deposit where developmental work was undertaken by Lithium Corporation of Canada. Quantum Minerals is currently completing its own exploration at the property; it also has precious and base metals assets in Manitoba.
Quantum Minerals hasn’t released any news since the end of last year, but its share price increased 68 percent last week to close at C$0.42.
4. Noram Ventures
With its efforts centralized on Nevada, exploration company Noram Ventures’ goal is to become a low-cost supplier for the lithium-ion battery industry. Zeus, its flagship project, is located in the state’s Clayton Valley and covers 1,214 hectares.
Last week was a busy one for Noram, which on Tuesday (January 12) resumed drilling in the Clayton Valley; its Phase V program will include 12 holes drilled to a maximum depth of 500 feet. The next day, the company reserved 3.5 million incentive stock options for grant, and on Thursday (January 14) it said it is conducting a series of chemical engineering tests to extract and concentrate lithium in anticipation of preliminary economic assessment studies for Zeus.
The stream of news sent the company’s share price up 66.07 percent to end at C$0.93.
5. Pure Energy Minerals
Pure Energy Minerals is a lithium developer focused on its Clayton Valley project in the Clayton Valley of Central Nevada. In 2017, Pure Energy completed a preliminary economic assessment for the Clayton Valley project, which includes an updated resource calculation and a preliminary economic evaluation.
Last week there was no fresh news from Pure Energy, but it increased 51.9 percent, closing at C$1.20.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.