BLILF - 5 Top Weekly TSXV Stocks: Bearing Lithium Gets Codelco Bump
At the end of last week, the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by 3.41 points, or 0.58 percent, to reach 594.74 points.
In general news from around the world, the trade war was back in focus (again) for the markets as the US and China slapped more tariffs on each other.
On the commodity front, precious metals continued their upward bent while in the base metals sector iron ore cooled its heels a little after months of high prices.
Looking at the juniors on the TSXV, here are the top five gainers from last week:
- Bearing Lithium (TSXV:BRZ)
- Santacruz Silver Mining (TSXV:SCZ)
- Salazar Resources (TSXV:SRL)
- Laurion Mineral Exploration (TSXV:LME)
- Chesapeake Gold (TSXV:CKG)
Read on to find out what each company has done to be in the news.
Bearing Lithium
Bearing Lithium holds an 18 percent interest in the undeveloped Maricunga lithium brine project in Chile.
Last week, Chilean state miner Codelco signed a non-binding memorandum of understanding with Salar Blanco to develop Maricunga. Salar Blanco is the company through which Bearing holds its interest in the lithium project, which could begin construction as early as 2020.
Bearing enjoyed a significant boost in its share price on Friday (August 2), jumping by 69.44 percent to C$0.305.
Santacruz Silver Mining
Mexican silver producer Santacruz Silver Mining has interests in two producing silver assets in Central Mexico: Veta Grande and Rosario.
Last Wednesday (July 31), the company released its second quarter production results, detailing a 114 percent increase in silver equivalent production year-on-year, and a 45 percent increase in silver equivalent production compared to Q1 2019.
On the TSXV, Santacruz Silver was up by 32 percent to C$0.165 by the end of last week.
Salazar Resources
Salazar Resources is focused on prospective assets in Ecuador, where it has interests in polymetallic projects with a focus on copper and gold.
In mid-July, the company released an update on its portfolio activities, including soil sample results, drilling and environmental permit progress, and the addition of a new copper-gold concession to its portfolio.
Salazar Resources was up by 21.88 percent at the end of last week, reaching C$0.195.
Laurion Mineral Exploration
Laurion Mineral Exploration has a 100 percent interest in the mid-stage Ishkoday project in Ontario, which the company describes as gold and silver rich.
At the end of July, Laurion released an update on negotiations over another property, the Midlothian project in Ontario. Laurion will now enter into a joint venture agreement regarding that project.
Laurion’s shares were up by 21.43 percent by last Friday, trading at C$0.17.
Chesapeake Gold
Chespeake Gold explores at precious metals deposits in North America, and currently owns the Metates project in Mexico, which the company describes as one of the largest undeveloped gold-silver-zinc deposits in the world.
At the end of last month, Chesapeake announced US$15 million in financing through a private placement, with US$12 million coming from billionaire Canadian investor Eric Sprott.
The company was up by 20.43 percent to C$2.77 by the end of the week.
Data for 5 Top Weekly TSX 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 basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.