The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed higher last week, ending Friday (August 28) at 745.31, up from Monday’s (August 24) open of 733.71.
It was a topsy-turvy week for gold, but the yellow metal ultimately ended the period around the US$1,960 per ounce mark. The other metals were a mixed bag, although copper enjoyed momentum.
Several of the top-gaining mining stocks on the TSXV last week have some focus on gold, but the company with the biggest share price gain has centered its efforts on oil and gas.
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The TSXV-listed mining companies below saw major share price moves last week:
- New Stratus Energy (TSXV:NSE)
- Canstar Resources (TSXV:ROX)
- Giga Metals (TSXV:GIGA)
- Armor Minerals (TSXV:A)
- Aldebaran Resources (TSXV:ALDE)
Here’s a look at what may have moved their share prices over the last five days.
1. New Stratus Energy
New Stratus Energy is focused on Latin American oil and gas properties and is targeting production of 50,000 barrels of oil equivalent per day within a three to five year timeframe.
Last week, the company’s share price skyrocketed 266.67 percent to hit C$0.22. New Stratus released several pieces of news during the five day period. Notably, the company received a 12 month extension for Phase 2 exploration at the VMM-18 block in Colombia; it also released its financial statements and management discussion and analysis documents for Q2.
2. Canstar Resources
Exploration and development company Canstar Resources is advancing its flagship polymetallic Buchans-Mary March project, as well as other exploration properties in Newfoundland and Labrador.
On Wednesday (August 26) last week, Canstar signed a binding letter agreement for the option to acquire a 100 percent interest in the Golden Baie project in Newfoundland. Golden Baie covers about 66,000 hectares, and the deal is with a subsidiary of Altius Minerals (TSX:ALS,OTCQX:ATUSF) and other arm’s length parties. The news sent Canstar’s share price up 114.81 percent to reach C$0.29.
3. Giga Metals
Giga Metals’ aim is to become a premier supplier of battery metals, and it says its British Columbia-based Turnagain project is among the largest undeveloped nickel–cobalt sulfide deposits in the world in terms of total contained nickel.
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The company did not report any news last week, but its share price increased 65.63 percent to finish at C$0.53. Its latest news came in mid-August, when Anthony Milewski became non-executive chair of Giga Metals’ board after serving as a director.
4. Armor Minerals
Little information is available about Armor Minerals, which describes itself as Canadian company engaged in the acquisition and exploration of mineral property interests. According to a SEDAR filing, it will be holding its annual general and special meeting of shareholders on September 18.
Its share price rose 63.64 percent last week to finish at C$0.90.
5. Aldebaran Resources
Aldebaran Resources is run by the former management of Antares Minerals and current management of Regulus Resources (TSXV:REG,OTC Pink:RGLSF).
The exploration company holds the Argentinian projects previously owned by Regulus, and has a joint venture and option agreement with Sibanye-Stillwater (NYSE:SBSW) under which it can earn up to an 80 percent stake in the Altar copper-gold project, also in Argentina.
Last week, Aldebaran’s share price leaped 48.57 percent to close at C$0.52. On Friday, it raised the size of its previously announced non-brokered private placement from $3 million to $4.8 million.
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.