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: 58.62 percent; market cap: C$41.25 million; current share price: C$0.46
Explorer HighGold Mining is advancing its flagship Johnson Tract property near the south coast of Alaska.
The project’s two primary deposits, the high-grade JT deposit and the Elias zone, along with nine other mineral prospects, cover 12 kilometers of strike length on the 21,000 acre property.
Weekly gain: 53.85 percent; market cap: C$133.74 million; current share price: C$0.10
Africa Energy is a South Africa-focused oil and gas exploration and development company.
Its flagship asset is block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.
However, it also noted the joint venture is contemplating accelerating the project through development and using nearby infrastructure to supply natural gas and liquid petroleum products to help provide energy to South African markets.
Weekly gain: 40 percent; market cap: C$11.55 million; current share price: C$0.21
Sage Potash is a potash exploration company currently working to advance its portfolio of mineral holdings in Utah’s Paradox basin in the US. Historic oil and gas exploration in the basin dating back a century discovered the potential for the potash beds, but they were too deep for mining methods at the time. Sage has since confirmed their presence through its own exploration.
Weekly gain: 38.24 percent; market cap: C$77.74 million; current share price: C$0.235
Eco Atlantic is an oil and gas exploration company working to advance offshore projects in Namibia, South Africa and Guyana.
The company’s projects include a 100 percent working interest in the Orinduik block, which is a 1,345 square kilometer area in the Guyana-Suriname Basin, and a 85 percent working interest in four offshore petroleum licenses in Namibia over a 28,593 square kilometer area.
The company also holds a 50 percent and 20 percent working interest in two projects off the coast in South Africa’s Orange Basin.
The company did not release news last week, but its share price still increased significantly to end the period.
Weekly gain: 36.9 percent; market cap: C$200.30 million; current share price: C$1.15
Reconnaissance Energy Africa is an oil and gas exploration company working to advance petroleum licenses in the Kavango Sedimentary Basin in Northeast Namibia and Northwest Botswana. The company’s two licenses cover an area of approximately 34,325 square kilometers.
The company has not released any further updates.
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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