5 Top Weekly TSXV Stocks: First Vanadium Up on Resource Estimate

As last week drew to a close, the S&P/TSX Venture Composite Index (INDEXTSI:JX) ended on a touch of a high, heading north by the barest of points — 0.28 (or 0.04 percent) to reach 623.82.

In the news last week, US President Donald Trump cut short a meeting with the North Korean leader, while Theresa May considers asking for an extension on Brexit.

Base metals prices were enjoying a bumper week, with tight inventory for copper sending prices upwards, while zinc also moved to recover more of 2018’s losses.

Precious metals on the other hand weren’t doing so well, with gold suffering its worst week of the year.

Looking at the junior miners on the TSXV, the leading company was Albert Mining, which plugs itself as the “only pure project generator which uses AI and data mining.”

The top five gainers were:

  • Albert Mining (TSXV:AIIM)
  • Goldbank Mining (TSXB:GLB)
  • Rusoro Mining (TSXV:RML)
  • First Vanadium (TSXV:FVAN)
  • AXMIN (TSXV:AXM)

Scroll down to read a little about what each company has been up to lately on the news front.

Albert Mining

Exploration and services company Albert Mining bills itself as the only pure project generator that uses AI in its work.

The company has a number of projects for sale across Canada and France, but most interest in the company is directed towards its CARDS (Computer Aided Resources Detection System) offering, which makes Albert more of an ancillary company.

On the TSXV last week, the company was well up in value — 136.84 percent to C$ 0.225. It has been rocketing up in value since the start of the year, though no major news has been released besides the resignation of its chairman and director.

Goldbank Mining

Vancouver-based explorer and developer Goldbank Mining has assets in the Yukon, where it is focused on the Leota gold project in the Klondike region. It also owns the Hasenfuss quartz project.

It released a Management Discussion and Analysis (MD&A) report in November last year, detailing minor exploration costs of around C$ 150,000.

With its website currently under development, news on the company comes through Sedar, where it announced that a primary shareholder, Anthony Beruschi, had increased his stake in the company to 36.3 percent on a non-diluted basis on December 28 last year.

Invest in the Battery Metals Boom Today

 

Click to download your free report

On the TSXV last week, the company was up by 93.33 percent to C$ 0.145 by Friday,

Rusoro Mining

Rusoro is a Canadian miner that ran into a spot of trouble in 2012, after the Venezuelan government nationalized its assets in the Bolivarian republic, which included two operating mines and ten exploration projects. Last year, the company received good news when Caracas agreed to pay US$ 1.28 billion to access the miner’s data on its projects. It’s now looking to enter into a partnership with the government to restart production at the mines.

Its most recent news was in late January this year, when the Paris Court of Appeals partially annulled a ruling that said Venezuela was liable for Rusoro’s losses.

On the TSXV last week, Rusoro was up by 57.14 percent top C$ 0.11 by Friday.

First Vanadium

First Vanadium describes its Carlin vanadium project in Arizona as one of North America’s largest, richest Vanadium deposits.

Last Wednesday (February 27), the company had the opportunity to put its money where its mouth was, releasing the maiden mineral resource estimate for the project — pegging its indicated vanadium grade at 0.615 percent for 24.64 million tonnes of the mineral.

In Toronto, First Vanadium was up by 44.64 percent with the news, reaching C$ 0.81 by Friday.

AXMIN

AXMIN has again made this list, with its shares enjoying news from the government of the Central African Republic (CAR) — where it operates its Pessendro project — announced peace deals with a medley of rebel groups.

The company was up yet again, though with no new news from the company (its last news was from January) — so stock markets seem to believe the peace deals will hold.

On the TSXV, AXMIN was up to C$ 0.62 — a gain of another 37.78 percent.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView. Only companies with market capitalizations greater than C$ 10 million prior to the week’s gains are included. Companies within the basic materials and energy 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.

The post 5 Top Weekly TSXV Stocks: First Vanadium Up on Resource Estimate appeared first on Investing News Network.

Investing News Network

, , , , , ,

Comments are closed.