19.1 C
Thursday, September 28, 2023

5 Top Weekly TSXV Stocks: Pure Energy Minerals Takes the Lead

The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined last week, finishing the period at 617.35.

In the resource sector, many market watchers were eyeing the latest inflation data out of the US — it shows that the consumer price index rose 0.4 percent month-on-month in April and 4.9 percent year-on-year.

The numbers have boosted expectations that the US Federal Reserve will not hike rates when it meets in June.

Against that backdrop, a variety of TSXV-listed resource stocks were on the move last week. Read on to find out which companies rose the most during the five day period and what was affecting their share prices.

1. Pure Energy Minerals (TSXV:PE)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Pure Energy Minerals Limited”,”url”:”https://www.pureenergyminerals.com”,”description”:”Pure Energy Minerals Ltd engages in the acquisition, exploration, and development of mineral properties. It is also involved in the exploration and development of mineral properties, with a focus on lithium brines and related processing of brines into lithium compounds. The company projects involve Clayton Valley.”,”tickerSymbol”:”TSXV:PE”,”sameAs”:[]}

Company Profile

Weekly gain: 131.82 percent; current share price: C$1.02; market cap: C$29.06 million

Lithium company Pure Energy Minerals is focused on its Clayton Valley lithium brine project in Nevada, US, which is operated by its strategic partner SLB (NYSE:SLB). The two companies plan to construct a direct lithium extraction pilot plant at the project, which will be used to process brines into lithium hydroxide monohydrate and lithium carbonate. In March, Pure Energy announced that it has received all the permits it needs for the construction and operation of the pilot plant.

After starting last week at C$0.48, Pure Energy’s share price hit an intra-day weekly high of C$1.27 last Wednesday (May 10); the company did not release any news to coincide with its performance.

Pure Energy shared a statement on Wednesday in response to its share price activity, stating that it is “not aware of any material undisclosed developments and has no material information or change to report at this time.”

2. Surge Battery Metals (TSXV:NILI)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Surge Battery Metals”,”url”:”https://www.surgebatterymetals.com”,”description”:”Surge Battery Metals Inc is an exploration stage company engaged in the acquisition, exploration and development of battery metal targets. It focuses on the exploration for lithium in Nevada, USA and nickel in British Columbia, Canada.”,”tickerSymbol”:”TSXV:NILI”,”sameAs”:[]}

Company Profile

Weekly gain: 31.91 percent; current share price: C$0.31; market cap: C$25.83 million

Surge Battery Metals is true to its name, with the Nevada North and Teels Marsh lithium projects in Nevada and the Surge nickel project in BC, Canada. The company reported positive results from metallurgical testwork at Nevada North in early May.

Last Thursday (May 11), Surge contracted environmental consultants to assist with permitting and collecting baseline data for Nevada North as preparation for its exploration plan of operations and reclamation plan. The company’s share price climbed to C$0.31, a weekly high, the next day.

3. SouthGobi Resources (TSXV:SGQ)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”SouthGobi Resources Ltd.”,”url”:”https://www.southgobi.com”,”description”:”Southgobi Resources Ltd together with its subsidiaries is an integrated coal mining, development, and exploration company. Its reportable operating segment is its Coal Division which is principally engaged in coal mining, development, and exploration in Mongolia and logistics and trading of coal in Mongolia and China. The company also holds the mining and exploration licenses of other metallurgical and thermal coal deposits in the South Gobi Province of Mongolia. The company owns the following operating coal mine and coal projects in Mongolia: the Ovoot Tolgoi Mine, Zag Suuj Project and the Soumber Project.”,”tickerSymbol”:”TSX:SGQ”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.png?id=32377191&width=980″,”logo”:”https://investingnews.com/media-library/image.png?id=32377191&width=210″}

Company Profile

Weekly gain: 31.43 percent; current share price: C$0.23; market cap: C$61.72 million

SouthGobi Resources is a coal company operating its Ovoot Tolgoi mine in Mongolia; it has two other coal deposits in the country as well.

SouthGobi released multiple statements over the last trading week. Last Sunday (May 7), the company shared that it achieved a net profit in Q1 of US$5 million to US$9 million, with final numbers to be released on May 19 once its Q1 results are audited. The next day it announced the resignation of a non-executive director and shared an updated list of its board members.

The company’s share price rose throughout the week to hit a weekly high of C$0.23 by the close of trading last Friday (May 12).

4. Ophir Gold (TSXV:OPHR)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Ophir Gold Corp.”,”url”:”https://www.ophirgoldcorp.com”,”description”:”Ophir Gold Corp is a gold exploration company. The company is focused on developing its flagship property, Breccia Gold Property located in Lemhi County, Idaho. Business exploration and evaluation assets are located in the United States.”,”tickerSymbol”:”TSXV:OPHR”,”sameAs”:[]}

Company Profile

Weekly gain: 27.03 percent; current share price: C$0.235; market cap: C$20.94 million

Ophir Gold is a lithium and gold company with options to earn 100 percent interests in the Radis lithium property in James Bay, Quebec, and the Breccia gold property in Idaho, US. In March, the company acquired three mining claims contiguous to the Radis property.

Last Wednesday, Ophir announced a non-brokered private placement of charity flow-through units for up to C$3 million. Its share price rose to a weekly high of C$0.26 the next day.

5. VR Resources (TSXV:VRR)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”VR Resources Ltd.”,”url”:”http://www.vrr.ca”,”description”:”VR Resources Ltd is an established junior exploration company focused on Greenfields opportunities in copper and precious metals. The company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. The company projects include Hecla-Kilmer, Ranoke, Bonita, Reveille Silver, Big Ten and others.”,”tickerSymbol”:”TSXV:VRR”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29648053&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29648053&width=210″}

Press Releases
Company Profile

Weekly gain: 26.67 percent; current share price: C$0.19; market cap: C$19.43 million

VR Resources has a portfolio of exploration projects in the US and Canada that are focused on a variety of resources, including critical metals, diamonds, precious metals and copper.

VR closed a C$1.8 million non-brokered private placement last Tuesday (May 9), and its share price hit a weekly high of C$0.22 the next day. On Thursday, the company shared that it was strengthening its corporate framework as it prepares to commence 2023 exploration at its Northway diamond project and Hecla-Kilmer rare earths and critical metals project in Ontario, Canada.

Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday after market close 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.

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

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

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

Source link

Related Articles

Latest Articles