ESKYF - 5 Top Weekly TSXV Stocks: Macarthur Rises Nearly 90 Percent
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed down last Friday (August 14) at 737.09 after opening the week at 746.15.
The surging gold price took a break last week, falling below the US$2,000 per ounce level and even spending some time below US$1,900.
Other precious metals also faced headwinds during the period, while base metals prices stalled due to uncertainty surrounding stimulus plans and the US/China phase one trade deal review.
Against that backdrop, the TSXV-listed mining companies below saw major share price moves last week:
- Macarthur Minerals (TSXV:MMS)
- Eskay Mining (TSXV:ESK)
- Alianza Minerals (TSXV:ANZ)
- Benz Mining (TSXV:BZ)
- PPX Mining (TSXV:PPX)
Here’s a look at what may have moved their share prices over the last five days.
1. Macarthur Minerals
With iron ore, lithium and gold assets, Macarthur Minerals is focused mainly on bringing its Western Australia iron ore projects into production.
Last Tuesday (August 11), the company released an updated resource estimate for the Moonshine magnetite deposits at its Lake Giles iron ore project. According to Macarthur, previous resource estimates for the deposits consisted only of inferred resources; now about 30 percent is classified as indicated with approximately 7.5 percent classified in the measured category.
“The completion of the updated Mineral Resource estimate for Macarthur’s magnetite deposits at its Lake Giles Iron Project is a major milestone for the Company as it progresses its Feasibility Study,” said Cameron McCall, president and executive chairman of Macarthur Minerals.
The news sent the company’s share price up 89.13 percent last week to reach C$0.44.
2. Eskay Mining
Exploration and development company Eskay Mining is interested in precious and base metals assets in British Columbia’s Golden Triangle. The company’s main projects are the SIB property, the Corey prospects and the North Mitchell block.
Eskay released the results of its annual meeting last Friday, reporting among other things that Quinton Hennigh and Thomas Weis have been elected to its board of directors. The company’s share price leaped 55.56 percent on the news to close at C$0.84.
3. Alianza Minerals
Prospect generator Alianza Minerals has honed its efforts on the Americas — it has four projects in Peru, eight in Nevada and six in the Yukon, along with three Mexican royalties.
Last Monday (August 10), Alianza announced the appointment of Rob Duncan as its vice president of exploration. The company’s share price went up 55 percent to finish the week at C$0.16.
4. Benz Mining
Benz Mining’s key asset is the Quebec-based Eastmain gold mine project. The company is earning a 100 percent stake in Eastmain, as well as the Ruby Hill West and Ruby Hill East projects in the province.
Last week, Benz announced a number of changes to its management and board of directors. Among other changes, Miloje Vicentijevic has resigned as the company’s president and CEO; he will be replaced in the interim by Mathew O’Hara, a director at Benz. The company’s share price rose 55 percent over the course of last week to close at C$0.52.
5. PPX Mining
PPX Mining has assets in Northern Peru; its flagship project is the Igor gold-silver asset, and it is also developing the Callanquitas mine and heap leach facility.
Last Monday, the company began trading on the TSXV again after being halted since May 20 by the BC Securities Commission. The resumption came after PPX filed all of its outstanding disclosure documents on July 23. Its share price rose 50 percent to finish the week at C$0.08.
Data for 5 Top Weekly TSXV 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 non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.