The S&P/TSX Venture Composite Index (INDEXTSI:
) was on the decline last week. It started the session at 960.28, and a brief rally took it as high as 964.43 before headwinds pushed it back.
By Wednesday (October 27), the index had dipped as low as 945.33; it spent the last two days of the trading week clawing back those losses, and on Friday (October 29) was holding in the 950 range.
Although the TSXV spent the week in the red, it has been trending higher since slipping to a year-to-date low of 853.89 in mid-September.
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Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:
Northwest Copper (TSXV:
West High Yield Resources (TSXV:
Adex Mining (TSXV:
Monarca Minerals (TSXV:
Quaterra Resources (TSXV:
Here’s a look at what may have moved their share prices during the period.
1. NorthWest Copper
Diversified company NorthWest Copper is a new copper-
explorer and developer with a robust pipeline of projects in BC. Last Wednesday (October 27), the metals company announced that drill hole K-21-217 returned the highest-grade copper and gold interval ever intersected at Kwanika.
“This drill hole is a game changer for our Kwanika Deposit and for the region,” Peter Bell, president and CEO, said in a
“The very high grade within a larger porphyry system is very unusual and establishes a brand new and incredibly exciting target type.”
Shares of NorthWest Copper climbed 50.12 percent following the news, ending the week at C$0.90.
2. West High Yield Resources
Junior mining exploration and development company West High Yield Resources is focused on the acquisition, exploration and development of mineral
properties in Canada. The company’s primary goal is to develop its Record Ridge
deposit using green processing techniques.
Last week, West High Yield engaged Independent Trading Group to initiate and provide market-making services pursuant to a market-making services agreement that is in compliance with applicable TSX Venture Exchange policies. By week’s end, shares were up 48.76 percent and trading for C$0.61.
3. Adex Mining
Adex Mining is a Canadian junior mining company developing its flagship Mount Pleasant mine property, a multi-metal project that hosts promising
mineralization. It is located in Charlotte County, New Brunswick, 80 kilometers south of Fredericton, the provincial capital.
Adex did not release any news last week, but shares of the company rose 49.73 percent to sit at C$0.15.
4. Monarca Minerals
-focused miner Monarca Minerals is currently exploring and developing a “highly productive” mineralized belt in Mexico. The company has a portfolio of silver projects, including an inferred mineral resource of 19.8 million tonnes at 45 grams per tonne silver (equivalent to 28.7 million ounces of contained silver) at its Tejamen deposit in Durango, Mexico.
In early October, Monarca completed two drill holes at its San Jose project, also in Mexico, and subsequently released an update on the findings. “We are pleased to report that two more drill holes, SJ07 and SJ12, have been completed, with significant intersection of skarn mineralization in limestone and intrusive rocks,”
said Michael R. Smith
, senior vice president of exploration.
There was no fresh news from Monarca last week, but shares rose 38.89 percent to close at C$0.12.
5. Quaterra Resources
Quaterra Resources is a copper-gold development and exploration company advancing its MacArthur oxide copper project in the historic Yerington copper district of Nevada.
Last week, Quaterra awarded McClelland Laboratories a key contract to support the advancement of MacArthur. “We are very pleased to have engaged with a leading Nevada-based contractor to advance a key aspect of the MacArthur PFS so soon after the recently announced oversubscribed private placement. We look forward to continuing with further important steps on the MacArthur oxide copper project,” said Travis Naugle, Quaterra’s CEO, in a release.
Shares of Quaterra ended the last week of October up 36 percent and closed at C$0.17.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 11:00 a.m. EST using TradingView’s
. 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, Georgia Williams, hold no direct investment interest in any company mentioned in this article.