KGC - Best Junior Gold Stocks of 2019 on the TSXV
While Q1 saw gold beginning to climb from the lows it experienced throughout most of 2018, the yellow metal only made small gains, increasing just under 1 percent in the first quarter of 2019.
However, despite a slow rebound, many junior gold companies managed to make progress and increased earnings from their assets. Now that Q1 has come to a close, the Investing News Network has rounded up the best junior gold stocks on the TSXV that have seen the biggest share price gains year-to-date.
The list below was generated on April 10, 2019 using TradingView’s stock screener. All companies listed had market caps above C$10 million at that time.
1. Amex Exploration (TSX:AMX)
Current share price: C$0.83; year-to-date gain: 295.24 percent
Focused on gold and base metals, Amex Exploration owns several assets, including the Perron gold and base metals project, the Eastmain River gold properties and the Lebel-sur-Quévillon gold project. It also holds an option to acquire 100 percent of the Gowan polymetallic property.
On February 21, the miner announced that it had completed a non-brokered private placement for US$5,442,875 and took on Eric Sprott as an investor. Sprott acquired 4 million units in the deal for a total of US$3 million.
At the end of the quarter, the miner intersected high-grade gold mineralization in step out holes completed at Perron’s Eastern gold zone. Drilling is ongoing at the property.
2. Goldsource Mines (TSX:GXS)
Current share price: C$0.17; year-to-date gain: 266.67 percent
Goldsource Mines is currently in the proof of concept phase at its Eagle Mountain gold project, located in Guyana. The miner’s immediate focus is to drill to a minimum of 600,000 ounces of gold, grading 1 to 1.5 grams per tonne, via expansion and in-fill drilling, with two core rigs purchased and currently active.
On January 17, Goldsource announced that it had raised C$1,300,000 through a non-brokered private placement. Proceeds from the deal will be used to further expand the Eagle Mountain resource, as well as for prefeasibility study costs and general corporate purposes.
At the beginning of March, the company reported that it had expanded its Salbora discovery 49.5 metres, grading 2.90 grams per tonne gold and 39.0 metres grading 2.78 grams per tonne gold.
3. KORE Mining (TSX:KORE)
Current share price: C$0.26; year-to-date gain: 183.33 percent
KORE Mining owns 100-percent interest in the Imperial and Long Valley gold development projects and the FG gold and Gold Creek exploration projects. The projects combine low technical risk and high advancement potential.
Right before the first quarter began, KORE announced fire assay results of all four holes of the Phase 1 drilling completed in 2018 on the Gold Creek gold exploration project.
4. Ximen Mining (TSX:XIM)
Current share price: C$0.76; year-to-date gain: 181.48 percent
Ximen Mining is focused on BC, where its land package covers one of the largest gold-bearing epithermal systems in the south of the province. The company describes the system as advanced and says it includes multiple high-grade targets.
At the beginning of March, the miner announced that it had arranged financing through a non-brokered private placement of 675,000 flowthrough shares at a price of C$0.60 per share for gross proceeds of C$405,000.00.
Just outside of Q1, Ximen reported that acquisition of over 12,900 hectares of land near Greenwood, BC. The company acquired this land package through a direct purchase and additional staking.
The property is comprised of 17 mineral tenures and surrounds the Gold Drop property that is currently under an option agreement to Goldcorp (TSX:G,NYSE:GG). The property also adjoins a large area of land to the South and East, which is currently in the process of being explored by Kinross Gold (TSX:K,NYSE:KGC).
5. Scottie Resources (TSX:SCOT)
Current share price: C$0.20; year-to-date gain: 166.67 percent
Scottie Resources is involved in BC’s Golden Triangle, where it owns the past-producing Scottie gold mine along with other additional assets.
On January 25, the miner announced that it had received regulatory approval from the TSX Venture Exchange of an option agreement to acquire a 100-percent interest in the 471.92 hectare Bow property for a total of US$1 million.
Additionally, at the beginning of March, Scottie reported that it had entered into an option agreement to acquire a 100-percent interest in 42 mineral claims covering 4,832 hectares known as the Bitter Creek property. Bitter Creek joins the company’s Ruby silver property with its Black Hills property in the golden triangle, creating a contiguous land package in excess of 10,000 hectares.
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Securities Disclosure: I, Nicole Rashotte, currently hold no direct investment interest in any company mentioned in this article.