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Thursday, September 28, 2023

5 Top Weekly TSXV Performers: Altaley Mining Rises 38 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, finishing Friday (December 31) at 940.28, higher than its opening level for the short trading period.

The index experienced ups and downs in 2021, but ultimately ended not far off from the year’s starting point of 889.04. Its annual high point was 1,098.56 on February 19, while its low was 853.89 on September 20.

Looking over to the commodities sector, various companies experienced gains last week. The five TSXV-listed mining stocks that saw the biggest gains are as follows:

  • Tearlach Resources (TSXV:TEA)
  • Hudson Resources (TSXV:HUD)
  • Baroyeca Gold & Silver (TSXV:BGS)
  • Altaley Mining (TSXV:ATLY)
  • Copper Lake Resources (TSXV:CPL)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Tearlach Resources

Tearlach Resources is focused on acquiring, exploring and developing Canada- and US-based mineral and oil and gas properties. The company hasn’t released any news for several months, with its last activity coming at the beginning of October, when it filed various documents on SEDAR.

Its share price rose 55.26 percent last week to end at C$0.30.

2. Hudson Resources

Greenland-focused Hudson Minerals has honed its efforts on strategic and critical green mineral projects. It has a 33 percent stake in the White Mountain anorthosite mine, and wholly owns the Sarfartoq carbonatite project, which it says is home to a neodymium-rich rare earths project and a high-grade niobium project.

There was no fresh news from Hudson last week, but its share price rose 50 percent to hit C$0.09

3. Baroyeca Gold & Silver

Baroyeca Gold & Silver’s key asset is Colombia-based Atocha, a high-grade silver-gold project; it also has an option to acquire a 100 percent interest in the Santa Barbara gold property, where bulk sampling of vein structures is helping to offset operating costs. Santa Barbara is also located in Colombia.

The company didn’t release any news last week, but shares jumped 44.26 percent to close at C$0.44.

4. Altaley Mining

Altaley Mining has two Mexican gold, silver and base metals assets: Tahuehueto and Campo Morado. The company is targeting pre-production at Tahuehueto this month, with full production capacity coming in the first or second quarter. For its part, Campo Morado is currently producing at a rate of about 2,100 tonnes per day.

Last Wednesday (December 29), Altaley executed a US$5 million bridge loan financing agreement with Sail Natural Resources. It plans to use the money to fund the final construction costs for Tahuehueto and for working capital. Its share price rose 38.57 percent during the period to reach C$0.49.

5. Copper Lake Resources

Copper Lake Resources has a portfolio of assets in Ontario. Its properties include Marshall Lake, a volcanogenic massive sulfide copper-zinc-gold project, and Norton Lake, a palladium-rich nickel-copper-cobalt project.

There was no news from Copper Lake last week, but company shares jumped 36.84 percent to close at C$0.13.

Data for 5 Top Weekly TSX 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$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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