By Scott Tibballs – Investingnews.com
Other top gainers on the TSXV last week included: American Lithium, Virginia Energy Resources, Pacton Gold and West Kirkland Mining.
Last Friday (June 8), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.86 points, or 0.37 percent, to close at 772.71.
Oil pushed the index around, with prices for the fuel going up thanks to a dip in exports from calamity-plagued Venezuela.
That said, a variety of miners saw big gains on the TSXV, with battery metals companies bookending the top five. Here are the top gainers in the mining sector last week:
- American Lithium (TSXV:LI)
- Virginia Energy Resources (TSXV:VUI)
- Pacton Gold (TSXV:PAC)
- West Kirkland Mining (TSXV:WKM)
- Northern Graphite (TSXV:NGC)
Lithium explorer American Lithium spent the week recovering from losses over May. At the start of last month, the company’s share price was at C$0.36, but it fell over the period to hit C$0.22 at the start of June. Last week it rose 50 percent to recover to C$0.36 once again.
American Lithium has a lithium property in Nevada, which it boasts is near Tesla’s (NASDAQ:TSLA) gigafactory in that state. The company did not release any news last week.
Virginia Energy Resources
Uranium miner Virginia Energy Resources enjoyed another week of positive gains in the wake of the news that it will be taking the state of Virginia to the supreme court to challenge a uranium-mining ban. The 33-year-old ban is what stands in the way of the company’s goal of proceeding with operations at its Coles Hill project.
Last week, Virginia Energy saw its share price ride up 44.19 percent to C$0.31.
Canadian gold explorer Pacton Gold, which has been piling on gold exploration tenements in Western Australia’s Pilbara, was on the rise last week. The company is now the third-largest landholder in the mineral-rich region, which is enjoying a gold rush following discoveries last year.
While the company did not release any news last week, its share price rose 39.78 percent to hit C$0.66. The increase represents a slight recovery after Pacton shed half its share value in a single day at the end of May, falling from a high of C$0.86 — that’s the price the company had sat near in the immediate aftermath of the news it was buying more land.
West Kirkland Mining
Gold explorer West Kirkland Mining has a number of properties in Nevada, where it operates between Las Vegas and Reno. Last Thursday (June 7), the company released assays from gold sampling at its Hasbrouk project, where it has identified drill targets from surface sampling.
The news helped buoy the company’s share price to C$0.08, an increase of 33.33 percent.
Canadian development company Northern Graphite currently owns the Bissett Creek graphite deposit in Ontario, which is an advanced-stage project with a feasibility plan and some permitting completed. The company had big news last week, signing a memorandum of understanding for an offtake agreement for the future mine. While its new partner is not identified in the release, the deal is for 100 percent of graphite mined at Bissett Creek.
Over the five-day period, Northern Graphite saw its share price jump 28.12 percent in Toronto to C$0.41.
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 $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pacton Gold is a client of the Investing News Network. This article is not paid-for content.