The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down 1.83 percent last week to 667.31.
Overall, the index is now up 27.18 percent in 2016. Precious metals were on the rise this week as well. Gold in particular was on the rise, buoyed by weak US jobs data.
A number of companies saw strong weekly percentage gains. The top five gainers for the week were:
- Sutter Gold Mining (TSXV:SGM)
- Wildcat Exploration (TSXV:WEL)
- Northern Shield Resources (TSXV:NRN)
- Cadan Resources (TSXV:CXD)
- Gold Mountain Mining (TSXV:GUM)
Here’s a closer look at those companies:
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Sutter Gold Mining
Sutter Gold Mining rose 127.27 percent last week to $0.07. The company currently hast two projects—the Lincoln Project in Amador County in California and the Santa Theresa Project in Mexico. Sutter Gold announced on May 6 that they have been informed that its principal lender and shareholder, RMB Australian Holdings, has engaged Primary Capital to assist in teh potential sale of its debt and equity interests in Sutter. There was no further news from Sutter detailing last week’s rise in price share.
Shares of Wildcat Exploration rose 106.67 percent last week to $0.155. The company is focused on exploring for gold, copper and zinc deposits in Canada, mainly focused in the Flin Flon greenstone belt. On April 4, Wildcat announced several management changes, one of which was that Harry Barr would become chairman and CEO of the company. However, there was no further recent news from Wildcat to explain last week’s rise in share price.
Northern Shield Resources
The company is focused on exploring for platinum group element deposits and Noril’sk type nickel-copper platinum group element deposits primarily in the Labrador Trough in Northern Quebec. Northern Shield last announced in April that it had completed the second and final trance of a non-brokered private placement. Proceeds of the second tranche totaled $182,250. Northern Shield rose 66.67 percent last week to $0.04.
Shares with Cadan Resources rose last week by 62.5 percent to $0.03. The company focuses on gold, silver and copper with a high quality portfolio of mineral assets located in the Philippines Island of Mindano. The company announced on May 5 pursuant to its press release of February 2, 2016, they have reached a shares-for-debt settlement agreement for 4,492,500 units to current creditors of the company. There was no further recent news about last week’s rise in share price.
Gold Mountain Mining
Finally, shares in Gold Mountain Mining rose last week by 60 percent to $0.06. The company is developing the Elk Gold Project in British Columbia, southeast of Merritt. The company’s most recent announcement came in November 2015, stating they received an effluent discharge permit from the BC Ministry of Environment for the Elk Gold property. There was no additional information regarding last week’s rise in share price.
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Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close 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.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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