2015 was a tough year for the mining space, and while 2016 is shaping up to be at least a little better, many investors are still wondering how to find the best mining companies to invest in.
One place to consider looking is the TSX Venture Exchange’s TSX Venture 50 list. Released annually, it ranks the exchange’s strongest performers across five sectors: cleantech, diversified industries, oil and gas, technology and life sciences and, of course, mining. Companies are chosen based on three equally weighted criteria: market cap growth, share price appreciation and trading volume. According to the exchange, the companies on this year’s list collectively delivered a return of 72 percent in 2015.
For investors trying to find the best mining companies to invest in, these companies may be a good place to start. Read on to learn which mining companies made it onto this year’s TSX Venture 50 list, and to get a brief overview of what they’re currently up to.
1. Pure Energy Minerals (TSXV:PE)
Pure Energy Minerals is focused on its Nevada-based Clayton Valley lithium brine project, and is best known for its conditional deal to supply Tesla Motors (NASDAQ:TSLA) with lithium for its lithium-ion battery gigafactory. Aside from joint venture partners Bacanora Minerals (TSXV:BCN,LSE:BCN) and Rare Earth Minerals (LSE:REM), Pure Energy is the only lithium company to have secured such an agreement.
The company signed its deal with Tesla in September 2015, and since then has continued to work hard at Clayton Valley. Most recently, it completed the fifth well at the project, exceeding the target depth.
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2. Nemaska Lithium (TSXV:NMX)
As its name suggests, Nemaska Lithium is also a lithium company. And like Pure Energy, Nemaska has its sights set on the lithium-ion battery market. It’s currently developing its Quebec-based Whabouchi lithium project, and ultimately plans to