Last Friday (November 15), the S&P/TSX Venture Composite Index (INDEXTSI:JX) continued its downward trend by falling 0.64 points to 526.51. The week before that it was at 536.97 points.
In news outside the US, the Hong Kong economy has shifted into a recession, Australia is currently squabbling over the politics of being on fire and Canada is facing a slumping national economy.
In commodities, copper trended down over the week, while gold bumped back up towards US$1,500 per ounce and oil was pretty flat.
In the commodities space, here are the top five gainers on the TSXV from last week:
- Minsud Resources (TSXV:MSR)
- Mangazeya Mining (TSXV:MGZ.H)
- Wilton Resources (TSXV:WIL)
- Oroco Resource Corp (TSXV:OCO)
- Callinex Mines (TSXV:CNX)
Read on to find out more about what each company has been up to lately.
Minsud Resources
Minsud Resources is an explorer with a focus on its flagship Chita Valley copper-molybdenum-gold-silver project in Argentina. It has a portfolio of other projects in Argentina as well.
Chita Valley was the subject of the company’s most recent release on November 4, when it signed an earn-in agreement to explore the project with South32 (ASX:S32,JSE:S32,OTC Pink:SHTLF), a spinoff company from BHP (ASX:BHP,NYSE:BHP,LSE:BLT).
Minsud has enjoyed quite a boost since then, and last week it gained 118.18 percent on the TSXV to reach C$0.12.
Mangazeya Mining
Mangazeya Mining has three non-ferrous and precious metals deposits in the Zabaykalsky Krai of the Russian Far East.
The company’s most recent news was back on August 29, when it released its production results for the year so far, along with its financial statements and management discussion and analysis (MD&A) quarterly highlights. It has not released any news since then on its website or on SEDAR.
Regardless, the company was trading up by 50 percent in Toronto last Friday, reaching C$0.06.
Wilton Resources
Wilton Resources is a Canadian oil and gas company without any currently producing assets. In its latest MD&A, published on SEDAR, it states that its only Canadian oil and gas property has been shut since 2013 due to uneconomical natural gas prices. It had an ongoing working capital deficit of C$443,341 as of June 30, 2019.
News for the company is sparse on its website, but it reported in October that it had closed a non-brokered private placement offering that yielded gross proceeds of C$525,000. The funds will go towards a reserve to acquire an international oil and gas property.
On the TSXV, Wilton was trading at C$0.69 last Friday — up 38 percent on the previous five days of trading.
Oroco Resource
Canadian explorer Oroco Resource has interests in Mexico, where it has the Santo Tomás copper and Xochipala gold projects.
Its most recent news came on October 29, when it announced that warrants from a unit offering completed in April 2018 had been fully exercised, yielding proceeds to the company of C$720,000. The money will be used as working capital, and also to fund the current exploration program at Santo Tomás.
On the TSXV, Oroco was trading at C$0.37 last Friday after gaining 32.14 percent over the previous five days of trading.
Callinex Mines
Callinex Mines is a Canadian company with a focus on its zinc portfolio in New Brunswick, where it has two major deposits in the Bathurst Mining District of the province.
The Bathurst assets were the subject of the company’s latest release on October 23, when it said it was commencing a drilling campaign there. The company said it expects to complete between 15 and 20 drill holes at the Nash Creek project, and another two at the Superjack project. Nash Creek drilling is supported by historical sampling of up to 5.5 percent copper, 9.1 percent zinc and 10.3 percent lead.
Callinex was trading at C$1.12 last Friday, up by 27.27 percent.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than C$10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Source: Investing News Network
(November 17, 2019 - 10:40 PM EST)
News by QuoteMedia
www.quotemedia.com
