At the end of last week on Friday (December 20), the S&P/TSX Venture Composite Index (INDEXTSI:JX) was up by 0.36 percent or 1.94 points to 546.6. At the same time the previous week, it had been at 538.76.
In news, US President Donald Trump was impeached on Wednesday (December 18), and despite his apparent influence on the economy, the stock markets apparently didn’t care. Trump at least had a possible trade deal with China to talk about.
In places that aren’t America, Brexit is looking like it’s a done deal, although Scotland isn’t happy, ensuring Brexit drama will continue well beyond January 2020, when the UK will leave the EU.
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Looking at commodities, copper was flat last week while gold took a step down on Friday, while oil did much the same, losing 1.57 percent on the last day of the week.
Looking at commodity-focused companies, here are the top five gainers in the resources sector on the Toronto Venture Exchange over the last week:
- Palladium One Mining (TSXV:PDM)
- Tinka Resources (TSXV:TK)
- Sama Resources (TSXV:SME)
- Lion One Metals (TSXV:LIO)
- Precipitate Gold (TSXV:PRG)
Read on to find out about what each company has been up to lately.
Palladium One Mining
Palladium One is an exploration and development company with two assets in Finland and Canada. The Läntinen Koillismaa platinum group element (PGE)-copper-nickel project gives the company its commodity-focused name, while the Tyko property in Ontario is a nickel-copper-PGE project.
Läntinen Koillismaa was the subject of the company’s most recent news last Tuesday (December 17), when it announced that seven of eight exploration permit renewal applications for the project had been approved by the Finnish Mining Authority, while two applications that had been challenged were approved.
According to the company, the third party that had been challenging Palladium One’s applications — and that was expected to continue challenging the company’s applications — was known to the Finnish Mining Authority, and had failed to have challenges upheld in the past.
Over last week, Palladium One was trading up by 62.5 percent to reach C$0.13 by last Friday.
Tinka Resources
Tinka Resources is the 100 percent owner of the Ayawilca zinc-lead–silver project in central Peru.
Last Thursday (December 19), the company announced a strategic investment from Buenaventura (NYSE:BVN) — a precious and base metals mining and exploration development company with interests in Peru.
According to Tinka, Buenaventura will subscribe for 65,843,620 common shares of Tinka at a price of C$0.243 per share, for gross proceeds to Tinka of C$16 million. Upon closing, Buenaventura will hold around 19.9 percent of all common shares in Tinka Resources.
In Toronto, Tinka was trading at C$0.17 by last Friday — an increase of 41.67 percent over the previous week of trading.
Sama Resources
Sama Resources is a Quebec-based Canadian exploration and development company, with its primary asset, the Samapleu nickel-copper-cobalt-PGE project, located in Côte d’Ivoire.
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The company released a tidbit of news last week on Thursday, when it announced it was granting 2,080,000 stock options to certain officers, employees and consultants of the company. The options will be exercisable at C$0.19 per common share.
Sama was trading at C$0.24 on the TSXV last week — up 41.18 percent on the previous five days of trading.
Lion One Metals
Lion One Metals is listed on both the Australian Securities Exchange and the Toronto Venture Exchange, and fancies itself as set to become the premier gold producer in Fiji thanks to its 100 percent owned Tuvatu gold project there.
Last Wednesday (December 18), the company announced it had encountered multiple high-grade gold intercepts at the Tuvatu project, with the company highlighting a 4.29 meter interval of 33.22 grams per metric ton of gold as being of particular note.
The company was trading up by 23.89 percent through to the end of last week, reaching C$1.4 on the TSXV by last Friday.
Precipitate Gold
Precipitate Gold is a Canadian explorer with interests in the Dominican Republic, where it is exploring and advancing the Pueblo Viejo mining camp and Tireo gold trend.
The company’s last release on December 17 was all about preparations for drilling at Pueblo Grande, which is the company’s gold asset near Barrick Gold’s (TSX:ABX,NYSE:GOLD) Pueblo Viejo gold mine.
Precipitate was trading at C$0.185 by the end of last week, up by 23.23 percent over the previous five days of trading.
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: Precipitate Gold is a client of the Investing News Network. This article is not paid-for content.
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