PNPN:CC - 3 Top Weekly TSXV Stocks: Power Nickel Leads with 70 Percent Gain

2024-05-12 22:40:00 ET

The S&P/TSX Venture Composite Index (INDEXTSI: JX ) gained 14.25 points last week to close at 595.95.

One of the biggest news items this past week was the Panama presidential election held on May 5, in which Jose Raul Mulino secured 34 percent of the vote against five other candidates to become the country’s president-elect. Mulino was a last minute replacement on the ballot after former president Ricardo Martinelli after he was barred from running in March due to a money laundering conviction. Mulino served as minister of public security under Martinelli during his presidency, which ended in 2014.

The incoming president will replace outgoing Laurentino Cortizo, who had reached the term limit for the office. Under Cortizo, Canadian mining company First Quantum Minerals (TSX: FM ,OTC Pink:FQVLF) was forced to shut down its Cobre Panama mine in November 2023 following a review by Panama’s Supreme Court that determined the mining contract it renewed earlier in 2023, which sparked protests due to its terms, was unconstitutional.

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