COBCF - 5 Top Weekly TSXV Stocks: Exploration Boosts Benchmark Metals
As last week drew to a close, the S&P/TSX Venture Composite Index (INDEXTSI:JX) was trading very flat, shifting by a meagre 0.37 points on Friday (April 26), or 0.06 percent to 609.24.
In the news, Ukraine has a new President after a comedian roared to victory with over 73 percent of voters voting for Volodymyr Zelensky, while in the US, President Donald Trump may be facing off against former Vice President Joe Biden after Biden announced his candidacy on Thursday (April 25).
In commodity news, base metals slumped following the easter holidays, while gold had a nice little bump.
Looking at resources juniors in Toronto, the pack was led by an oil and gas developer while gold, silver and tin made appearances in the top five gainers, listed below:
- PetroFrontier (TSXV:PFC)
- Benchmark Metals (TSXV:BNCH)
- Cub Energy (TSXV:KUB)
- Cobalt Blockchain (TSXV:COBC)
- Alphamin Resources (TSXV:AFM)
Read on to see what they have been up to lately.
PetroFrontier
As its name suggests, PetroFrontier is a junior energy explorer and developer in Western Canada, with a focus on heavy oil interests in the Cold Lake and Wabasca areas of Alberta.
On April 25, the company released its annual financial statements for 2018 on SEDAR (erroneously labelled as April 25 2018), and also revealed that it had signed a term sheet with a corporation controlled by one of its directors that will give PetroFrontier a credit facility of up to C$2 million.
On the TSXV last week, the company shares were up by 60 percent thanks to the news, trading at C$0.08 by the end of the week.
Benchmark Metals
Gold and silver explorer Benchmark Metals is focused on developing its Lawyers project in the prolific Golden Triangle region of British Columbia.
Benchmark also released news last week, announcing a proposed resource expansion drilling exploration project at Lawyers to begin in June.
In Toronto, Benchmark was up by 48.57 percent over the week after the news, trading at C$0.26 by Friday.
Cub Energy
Canadian upstream oil and gas company Cub Energy last released news in late March, when it announced net earnings of US$3.1 million in the 2018 fiscal year.
The company has assets in Ukraine, where it says its business model is to use western money and technology to develop its Black Sea region oil and gas assets.
Ukraine has just held a Presidential election, with incumbent Petro Poroshenko losing the office to Volodymyr Zelensky.
Cub Energy was up by 37.5 percent on the TSXV last week — its shares were trading at C$0.05 on Friday.
Cobalt Blockchain
Canadian resources company cobalt blockchain also released a whole bunch of filings on SEDAR this week, detailing its involvement in conflict-free tin, tantalum and tungsten through its subsidiary, Belair African Minerals. Cobalt Blockchain is also actively engaged in seeking cobalt and copper assets.
Its subsidiary Belair dedicates most of its website to talking up its conflict-free credentials. The company is involved in the sale of tin and tantalum from certified artisanal mines in the Democratic Republic of the Congo.
Cobalt Blockchain was up by 33.33 percent on the TSXV last week, trading at C$0.1.
Alphamin Resources
Another tin focused company. Alphamin is a Mauritius-based, Toronto-listed developer that is focused on developing its Bisie tin mine in the Democratic Republic of Congo.
Earlier in April, the company announced it had completed a US$12 million non-brokered private placement, with the proceeds to go towards completing mine construction at Bisie as well as working capital and general corporate purposes.
On the TSXV last week, Alphamin was up by 20.93 percent, trading at C$0.26 by Friday.
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.
Editorial Disclosure: Cobalt Blockchain is a client of the Investing News Network. This article is not paid-for content.