Last Friday (May 4), the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 1.16 points, or 0.15 percent, to close at 772.41.
Canadian stocks were broadly led by financial and energy stocks on Friday, buoyed by higher oil prices last week.
Oil has been a mover lately, with the markets worried about exactly what US President Donald Trump is going to do with his administration’s approach to Iran. He has until May 12 to decide whether he will restore sanctions to one of the world’s largest oil producers over the US-Iran nuclear deal.
Among miners, exploration companies saw the most movement on the TSXV last week, with company priorities ranging from uranium to copper to gold. Here are the top five movers on the TSXV last week:
- New Stratus Energy (TSXV:NSE)
- Oroco Resources (TSXV:OCO)
- Intact Gold (TSXV:ITG)
- Gunpoint Exploration (TSXV:GUN)
- Discovery Metals (TSXV:DSV)
Here’s a look at what these five companies have been up to recently.
New Stratus Energy
New Stratus Energy is a Canadian resource company with assets in Saskatchewan. The company is in the business of acquiring, exploring and developing properties producing uranium, oil and gas.
While the company didn’t release any news last week, in March it announced that it was applying for an extension of the expiry date of its outstanding common share purchase warrants from May 3, 2018 to May 3, 2020. New Stratus Energy’s share price increased 169.23 percent over the week, up to C$0.35.
Another Canadian exploration company, Oroco Resources, saw gains last week. The company has copper and gold projects in Mexico, with a focus on the Santo Tomas porphyry copper project in Sinaloa. It is currently in the process of negotiating the acquisition of additional concessions in the area.
The company saw its share price rise 46.87 percent over the five-day period, up to C$0.23.
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Intact Gold also saw its share price on the up last week. The company has gold-focused properties throughout Canada from Quebec to BC, all of which are in the exploration stage. The company released no news last week, but its share price increased by 46 percent to C$0.7.
Canadian company Gunpoint Exploration has precious metals exploration projects in the US, Mexico and Guatemala. Last month, the company reported that it had regained a 100-percent controlling interest in its Talapoosa property in Nevada, which in 2015 was reported to have an estimated resource of 28.4 million tonnes at an average grade of 1.11 g/t gold and 14.97 g/t silver for a total of 1.01 million ounces gold and 13.65 million ounces silver.
Gunpoint Exploration’s share price was up over the week by 42.86 percent to C$0.30.
At the beginning of last week, Canadian mining company Discovery Metals released information about assay results at its Puerto Rico project in Northern Mexico, detailing a significant amount of mineralization at the silver-zinc–lead-copper project. The company owns a 3,000-square-kilometer land position in Coahuila state, where it’s focused on silver-zinc-lead deposits.
Discovery Metal’s share price was up 28.57 percent over the five-day period, to C$0.36.
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.
The post 5 Top Weekly TSXV Stocks: Discovery Metals Up on Assay Results appeared first on Investing News Network.
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