The S&P/TSX Venture Composite Index (INDEXTSI:
JX
) was on the decline last week, opening on Monday (June 7) at 980.86 and closing at 979.92.
Statistics Canada said last week
that the amount Canadians owe compared to their income fell year-on-year in Q1. Experts believe this may change as the country continues to dial back COVID-19 restrictions.
Also last week, the
Bank of Canada said
it will be keeping its key interest rate at a historic low and will maintain its current pace of bond purchases.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
-
Big Ridge Gold (TSXV:
BRAU
) -
Diamcor Mining (TSXV:
DMI
) -
Canterra Minerals (TSXV:
CTM
) -
Pulse Oil (TSXV:
PUL
) -
Southern Energy (TSXV:
SOU
)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Big Ridge Gold
Canada-focused Big Ridge Gold is exploring for gold in Quebec, Manitoba and Ontario.
The company had two pieces of news last Tuesday (June 8). First, it closed its previously announced
earn-in agreement
with First Mining Gold (TSX:
FF
,OTCQX:FFMGF); through the deal, Big Ridge is now the operator of First Mining’s Hope Brook gold project in Newfoundland and Labrador and can earn up to an 80 percent interest in the asset. Phase 1 exploration is expected to start this summer.
Second, Big Ridge
announced a brokered private placement
to raise gross proceeds of up to about C$5 million. The company’s share price rose 57.89 percent to end at C$0.30.
2. Diamcor Mining
Diamcor Mining has a strategic alliance with Tiffany & Co., and is now in the final stages of developing its South Africa-based Krone-Endora at Venetia
diamond
project, which it acquired from De Beers in 2011.
The company
participated in a virtual conference
last week. Its share price rose 50 percent during the period to close at C$0.24.
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3. Canterra Minerals
Canterra Minerals is focused on gold exploration in Newfoundland and Labrador. The company is earning earning a 100 percent interest in the Wilding and Noel Paul gold projects in the province; they are located directly northeast of Marathon Gold’s (TSX:
MOZ
,OTCQX:MGDPF) Valentine Lake gold project.
Last Tuesday, Canterra announced a
non-brokered private placement
to raise total gross proceeds of about $2.7 million. Canadian billionaire Eric Sprott will purchase $2.6 million of the offering and will own around 19.9 percent of the company’s basic shares on an outstanding basis once it is complete.
4. Pulse Oil
Pulse Oil holds an Alberta-based 100 percent working interest enhanced
oil
project. It includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years; the company plans to use a proven recovery methodology to further enhance their oil recovery.
There was no fresh news from Pulse Oil last week, but it rose 44.44 percent to close at C$0.07.
5. Southern Energy
Southern Energy is an oil and natural
gas
explorer and producer that has honed its efforts on acquiring and developing conventional natural gas and light oil
resources
in Mississippi, Louisiana and East Texas.
The company didn’t release any news last week, but shares jumped 35.71 percent to end at C$0.10.
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$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
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@INN_Resource
for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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