On Friday markets were expectant as the incoming US President Trump took office, with the S&P/TSX Venture Composite Index (INDEXTSI:JX) closing the week up by 0.44 percent to 797.59 points.
In his speech, Trump said January 20,2017 will be remembered as the day the people became rulers of the US again. His comments fueled investors concerns about potential protectionist trade policies.
Despite this, many stocks were on the rise last week, with gains as high as over 41 percent over the five-day period.
In particular, gold and other precious metals had some of the top-gaining stocks.
The top five stocks for the week were:
Confederation Minerals (TSXV:CFM)
Golden Predator Mining (TSXV:GPY)
Encanto Potash (TSXV:EPO)
Giyani Gold (TSXV:WDG)
Galway Gold (TSXV:GLW)
Here’s a closer look at those companies:
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Confederation Minerals
Confederation Minerals is engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit.
The company owns 70 percent of the Newman Todd project in the Red Lake Mining District of Northern Ontario, as well as 100 percent in another property in the Red Lake Mining District of Ontario.
Over the five-day period, shares of Confederation Minerals saw an increase of over 41 percent to reach $0.82.
Golden Predator Mining
Golden Predator Mining is a gold mineral exploration company expanding surface discoveries at its 3 Aces project in Canada’s Yukon, through focused drilling. The 3 Aces property is a high-grade gold in quartz project with an exploration program underway. The Company also holds the Brewery Creek project in Canada’s Yukon.
The company recently released assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces project. Drilling has demonstrated an extension of high grade gold at the Ace of Spades zone as well as the discovery of a blind vein and the occurrence of significant assay values in stockwork zones.
Last week, shares of Golden Predator Mining saw a 39.44 percent increase to reach $0.99.
Encanto Potash
Next on the top weekly TSXV stocks is Encanto Potash,, that has a 100 percent interest in the Muskowekwan Potash Project underlying 61,400 acres. Encanto and its Muskowekwan First Nations partner (MFN) have developed a substantial project on the MFN Reserve lands located in Saskatchewan. The project contains 162.0 million tonnes of recoverable KCI Proven and Probable Reserves.
The company does not have any news regarding its share price increase, but has recently announced an