The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, increasing from Monday’s (June 29) open of 601.01 to Friday’s (July 3) close of 632.66
In the resource space, gold was on the rise during the period, with futures breaching the US$1,800 per ounce mark and the spot price hitting a seven year high.
Silver also fared well last week, although the base metals were a mixed bag.
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Against that backdrop, the companies below saw major share price moves last week:
- Decade Resources (TSXV:DEC)
- Galleon Gold (TSXV:GGO)
- Braveheart Resources (TSXV:BHT)
- Playfair Mining (TSXV:PLY)
- Grande Portage Resources (TSXV:GPG)
Here’s a look at what may have moved their share prices during the period.
1. Decade Resources
Decade Resources has a 65 percent stake in the BC-based Red Cliff property, and wholly owns the Goat, Grassy, Premier East and Terrace area properties in the province. It has the option to earn a 70 percent interest in the Del Norte project, which is located in BC’s Golden Triangle region.
The company did not release any news last week, but its share price rocketed up 155.56 percent to finish at C$0.12. Decade’s last announcement came on June 22, when it revealed it was making an exploration plan for Del Norte.
2. Galleon Gold
Exploration and development company Galleon Gold is focused on two projects. The first is the Neal gold project in Idaho, which it owns in partnership with well-known investor Eric Sprott; the second, its flagship, is the West Cache gold project situated in Ontario.
Last Monday, Galleon announced the start of drilling at West Cache. It plans to complete 4,000 meters of infill diamond core drilling across 30 holes with an average depth of 130 meters. The company’s share price rose 150 percent to close at C$0.15 on the news.
3. Braveheart Resources
Braveheart Resources has centered its efforts on BC’s East and West Kootenays region. Its primary asset is the Bull River mine, an advanced-stage copper, gold and silver mine, which it is aiming to restart.
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The company most recently released news last Tuesday (June 30), when it engaged GRA Enterprises as its investor relations advisor. Braveheart’s share price leaped 118.18 percent last week to end at C$0.12.
4. Playfair Mining
Playfair Mining is focused mainly on its Norway-based RKV project, where it is looking for copper, cobalt and nickel in a historic base metals area. Aside from RKV, Playfair has assets in Canada and Ireland.
Last Monday, the exploration company closed an oversubscribed non-brokered private placement for gross proceeds of C$600,000; Playfair issued 12 million common shares priced at C$0.05 each, and will use the money to advance RKV and for general working capital purposes. Its share price finished last week at C$0.13, up 116.67 percent.
5. Grande Portage Resources
Grande Portage Resources is focused on its Alaska-based Herbert gold discovery. The company had two pieces of news last week. First, on Tuesday, it started drilling at Herbert. Grande Portage plans to complete 18 to 20 holes from up to four different platforms with the goal of testing up to four separate major veins and their satellite structures.
Second, on Friday it announced a C$3.15 million non-brokered private placement; Canadian billionaire Sprott will account for C$3 million of the deal, equivalent to 10 million units. Grande Portage’s share price ended last week up 96.61 percent at C$0.58.
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.
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