Anglo American has rejected the offer, calling the bid “opportunistic.” However, analysts expect BHP to increase the offer to make it more attractive ahead of the May 22 regulatory deadline to formalize a binding offer.
Against this backdrop, how have small-cap mining companies performed on the TSX Venture Exchange this past week? Below are the top five gainers. Read on to learn what’s been moving their share prices.
Weekly gain: 72.41 percent; market cap: C$394.55 million; current share price: C$1
Sintana Energy is a petroleum and natural gas explorer and developer with assets in Africa and Latin America.
Weekly gain: 72.22 percent; market cap: C$18.62 million; current share price: C$0.155
Adyton Resources is working to advance its flagship Feni Island gold project in Papua New Guinea.
Weekly gain: 70.37 percent; market cap: C$21.07 million; current share price: C$0.23
Barksdale Resources is a copper exploration company focused on advancing its assets in Arizona, US.
Shares of Barksdale rose just over 70 percent this past week, but it has not released any news.
Weekly gain: 52.94 percent; market cap: C$12.09 million; current share price: C$0.52
The company also owns three other gold projects in Papua New Guinea: SPMC North, May River and Kili Teke.
Weekly gain: 46.81 percent; market cap: C$22.01 million; current share price: C$0.345
LNG Energy is an oil and gas development and exploration company focused on operations in Latin America.
Its primary producing asset is the Sinu-San Jacinto 1 well in Northern Colombia. The site produces 36 million cubic feet per day and hosts 139 billion cubic feet equivalent of proven, probable and possible liquid natural gas reserves.
The contracts will cover the operation of five onshore fields that currently produce 3,000 barrels of oil per day and will provide LNG Energy with 50 to 56 percent of the hydrocarbons produced.
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.
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