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Thursday, December 7, 2023

5 Top Weekly TSXV Performers: Kiplin Metals Rises 55 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended higher after ending October on the decline.

The index entered the first trading week of November at 963.96 and had climbed to 980.9 by midday last Friday (November 5). Positivity in the US markets and the S&P/TSX Composite Index (INDEXTSI:OSPTX) reaching an all-time high of 21,465 both aided in the index’s rise.

News that the US Federal Reserve will begin tapering its bond-buying program benefited gold, which was reflected in share price upticks for yellow metal producers and explorers.

Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:

  • Kiplin Metals (TSXV:KIP)
  • Virginia Energy Resources (TSXV:VUI)
  • Lucky Minerals (TSXV:LKY)
  • Cotec Holdings (TSXV:CTH)
  • Nevada Silver (TSXV:NSC)

Here’s a look at what may have moved their share prices during the period.

1. Kiplin Metals

Exploration company Kiplin Metals is focused on the strategic acquisition of advanced resource projects and early stage exploration opportunities. Currently the firm is conducting a phase one exploration program at its wholly owned Exxeter gold project, located in Val d’Or, Quebec. In late October, the company’s board of directors commenced a strategic review of several uranium projects in the Athabasca region of Saskatchewan, with the intention of expanding Kiplin’s project portfolio.

“After considerable consultation with our strategic advisors, the board has determined that, given the deep technical knowledge of our team, combined with the global initiative to transition the world’s energy needs away from fossil fuels, the company has initiated a strategic review of several uranium projects in Athabasca, Saskatchewan,” Peter Born, director of Kiplin Metals, said in a statement.

Company shares added 55.85 percent by Friday to sit at C$1.15.

2. Virginia Energy Resources

Uranium-focused Virginia Energy Resource holds a 100 percent controlling interest in the advanced-stage Coles Hill uranium project, located in South-Central Virginia.

While the company has not released news since September, uranium has been a key feature in global discourse of late as China and Iran’s stockpiling of weapons takes center stage.

Additionally, growing demand for nuclear energy and calls for more robust climate action initiatives have all benefited the uranium spot price, which has risen more than 50 percent year-to-date.

Virginia Energy Resources shares rose 54.03 percent last week, closing at C$0.77.

3. Lucky Minerals

Ecuador-focused Lucky Minerals owns a 100 percent interest in the Fortuna property, located in a highly prospective, yet underexplored, gold belt in Southern Ecuador. The Fortuna project is comprised of 12 contiguous exploration concessions covering 55,000 hectares.

Last week, the exploration company received sample assay results from ongoing work at the Wayka epithermal gold discovery Fortuna.

“The results from Wayka are expanding the footprint of the mineralized intervals,” said François Perron, president and CEO. “The system’s full extent has yet to be established and work in the field continues. Our understanding of the mineralization is still in the early stages and will continue to improve over the coming weeks as more work is completed at surface.” Company shares were up 46.57 percent for the first week of November, closing at C$0.11.

4. Cotec Holdings

Cotec Holdings is a coal exploration company that was formerly called East Coal. The Vancouver-based mineral-focused company has not put out news since announcing the closing of a $500,000 private placement in September. Shares of Cotec rose 42.26 percent last week, ending the trading period at C$0.64.

5. Nevada Silver

Diversified resource company Nevada Silver has two advanced-stage exploration projects: its flagship Corcoran silver-gold project in Nevada, as well as the Emily manganese project in Minnesota.

In mid-October, Nevada Silver retained CHF Capital Markets, a Canadian investor relations and capital markets firm, as its representative. In late Q3, the company updated investors regarding a drill program at Corcoran.

“Drill-testing of the Silver Reef deposit at Corcoran is progressing with the completion of three vertical diamond drill holes of the eight-hole Stage 1 drilling program,” notes the late September release.

Nevada Silver shares added 39.58 percent for the first week of November, ending the five day session at C$0.53.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 11:00 a.m. EST 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, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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