Last week’s top-gaining mining stocks on the TSXV were SRHI, Arctic Star, Superior Mining, Southern Energy and Laurion Mineral Exploration.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a bumpy trading period last week. It opened at 937.99 and ultimately closed a little higher at 954.12.
The market was also focused on news that Canada’s economy expanded at a pace of 6.5 percent during Q1. The American economy expanded at a pace of 6.4 percent during those three months.
Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:
Here’s a look at what may have moved their share prices over the last five days.
SRHI’s main operation is a 70 percent equity interest in the Minera Tres Valles (MTV) copper mine in Chile. MTV is producing 99.999 percent pure copper cathode from its reserves, and according to SRHI has vast potential with more than 46,000 hectares of land to explore.
The company’s latest news came in mid-April, but last week shares rose 300 percent to reach C$0.82.
2. Arctic Star Exploration
Junior miner Arctic Star Exploration is focused on the acquisition, exploration and development of mineral properties. It wholly owns the Finland-based Timantti diamond project, and has diamond exploration assets in several of Canada’s provinces and territories.
Last week was busy for Arctic Star. On Monday (April 26), the company announced a new kimberlite discovery at its Diagras project, located in the Lac de Gras kimberlite field in the Northwest Territories. Then, on Friday (April 30), it confirmed the discovery with a second drill hole. Aside from that, Artic Star announced a non-brokered private placement of up to $800,000 last week. Its share price jumped 144.44 percent during the period to close at C$0.22.
3. Superior Mining International
Exploration company Superior Mining International is focused on acquiring and exploring high-value gold projects in Canada. Its flagship Jumping Moose property is located in the Abitibi greenstone belt.
The latest news from the company came at the end of March, when it filed various documents on SEDAR. Superior Mining’s share price increased 58.7 percent last week to hit C$0.73.
4. Southern Energy
Southern Energy is an oil and natural gas explorer and producer. It has honed its efforts on acquiring and developing conventional natural gas and light oil resources in Mississippi, Louisiana and East Texas.
There was no fresh news from Southern Energy last week, but its share price leaped 57.14 percent during the five day period, finishing at C$0.06.
5. Laurion Mineral Exploration
Laurion Mineral Exploration’s main focus is its Ontario-based Ishkoday gold-polymetallic project. Ishkoday is home to the past-producing Sturgeon River mine, while the company’s Brenbar property, which is contiguous with Ishkoday, hosts the historic Brenbar mine.
Last Wednesday (April 28), Laurion provided a corporate update on its recent trading activity, saying the company “is not aware of any material undisclosed corporate developments and has no material change to report at this time that may be contributing to the level of trading activity of its shares.” Its share price rose 51.81 percent last week to end at C$0.63.
Data for 5 Top Weekly TSXV 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$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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.