Gasoline prices, which were up 4.5 percent compared to the same period last year, were a significant factor in the gain. Additional pressure came from rising shelter costs due to mortgage and rental increases.
Against that backdrop, which TSXV-listed mining stocks performed the best last week? Here are the top five gainers.
Weekly gain: 123.08 percent; market cap: C$26.06 million; current share price: C$0.145
Timberline Resources is a gold exploration company with a portfolio of projects in Central Nevada, US.
Weekly gain: 50 percent; market cap: C$44.15 million; current share price: C$0.375
Power Nickel is a nickel exploration company that is currently focused on the development of its Nisk nickel-copper project in the Eeyou Istchee James Bay region of Québec, Canada.
The company highlighted results including a 0.6 meter interval grading 24.3 grams per MT (g/t) gold, 5.7 g/t silver, 5.29 percent copper, 3.26 g/t palladium, 0.29 g/t platinum and 3.31 percent nickel.
Weekly gain: 47.37 percent; market cap: C$11.2 million; current share price: C$0.14
The company has not released further updates in 2024.
Weekly gain: 41.67 percent; market cap: C$31.76 million; current share price: C$0.17
Amarc Resources is a copper and gold exploration company with projects located throughout BC.
Its primary focus has been advancing its district-scale Duke project, a 678 square kilometer land package in Central BC within a region that hosted Noranda’s past-producing Bell and Granisle mines.
Weekly gain: 40 percent; market cap: C$43.22 million; current share price: C$0.28
PJX Resources is a polymetallic exploration company that has most recently been focused on the advancement of its Dewdney Trail property, located northeast of Cranbrook, BC. The 16,000 hectare site hosts three target areas: Estella Basin, Lewis Ridge and Tackle Basin. Through rock sampling and limited drilling at the targets, the company has identified potential mineralized areas that it says are similar to the nearby Sullivan mine.
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Leave a Reply