Last week’s top-gaining mining stocks on the TSXV were Azincourt Energy, Red Moon, Medallion Resources, Grid Metals and CGX Energy.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, closing at 1,098.56 after opening on Monday (February 15) at 1,039.06.
The TSXV-listed mining stocks below saw the biggest share price moves last week:
Here’s a look at what may have moved their share prices over the last five days.
1. Azincourt Energy
Exploration and development company Azincourt Energy has uranium projects in Canada’s Athabasca Basin and Peru’s Picotani Plateau. Aside from uranium, the company is focused on battery metals.
Azincourt released a slew of news last week. On Wednesday (February 17), it completed its acquisition of a 70 percent stake in the East Preston uranium project, located in the Athabasca Basin; the company reported drill mobilization at the asset two days later. Aside from that, on Thursday (February 18), Azincourt closed its purchase of three uranium-lithium projects in Peru.
The company’s share price rose 150 percent last week to close at C$0.13.
2. Red Moon Resources
Exploration and development company Red Moon Resources is focused on industrial minerals and is developing Canadian projects centering on gypsum, salt and nepheline. Nepheline is a source of aluminum, sodium and potassium.
Red Moon released two pieces of news last week. On Tuesday (February 15), the company closed a non-brokered private placement for gross proceeds of $700,000. Then, on Wednesday, Red Moon announced a non-brokered private placement for gross proceeds of up to $3.5 million. The company’s share price rose 100 percent during the period to reach C$0.53.
3. Medallion Resources
Rare earths-focused Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term rare earths production by exploiting monazite.
Last Thursday, the company secured exclusive rights to Purdue University’s rare earths separation and purification technology. According to Medallion, this technology will complement its existing business focus. Its share price increased 100 percent last week to close at C$0.61.
4. Grid Metals
Last Wednesday, Grid Metals filed a NI 43-101 technical report on its Bannockburn nickel project in Ontario. According to the company, the report was produced to summarize relevant geological and historical exploration information for the asset, as well as to obtain independent recommendations for future exploration. The company’s share price rose 87.5 percent last week to reach C$0.30.
5. CGX Energy
Oil and gas explorer CGX Energy holds interests in three licenses in the Guyana Basin, and has explored actively both onshore and offshore of Guyana since 1997.
Last Tuesday, CGX Energy and its partner, Frontera Energy (TSX:FEC) announced the completion of an independent prospective resource study and report for the Corentyne North Area, Corentyne Main Area and Demerara Block, located offshore Guyana. CGX Energy’s share price jumped 76.47 percent during the five day period to close 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.
Editorial Disclosure: Grid Metals and Medallion Resources are clients of the Investing News Network. This article is not paid-for content.