Welcome to the Investing News Network’s weekly look at the best-performing junior mining stocks on the TSX Venture Exchange, starting with a round-up of Canadian and US market data impacting the resource sector.
Losses mainly occurred in the private sector, with wholesale and retail trade shedding 44,000 jobs.
The declines were offset by gains in public administration. Overall, there was a 0.2 percent decrease in the employment rate to 60.9 percent, while the unemployment rate was unchanged from June at 6.4 percent.
How did small-cap mining stocks on the TSX Venture Exchange perform? Here are the top five gainers.
Weekly gain: 50 percent; market cap: C$31.81 million; share price: C$0.015
Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.
Weekly gain: 28.57 percent; market cap: C$10.7 million; share price: C$0.18
Weekly gain: 21.05 percent; market cap: C$22.81 million; share price: C$0.345
Golconda Gold is a gold production company with mining operations in New Mexico, US, and South Africa.
The company acquired the Galaxy mine near Barberton, South Africa, in 2015. It is one of the oldest mines in the country. Golconda expanded its holdings to the US in May 2021, when it acquired the Summit mine and Banner mill, located in Grant County, New Mexico. The site has hosted mining activities since the late 1800s.
Weekly gain: 20 percent; market cap: C$21.43 million; share price: C$0.12
AuMEGA Metals is a gold exploration company focused on the advancement of a 110 kilometer long, district-scale land package along the Cape Ray shear zone in Newfoundland and Labrador, Canada.
In addition to its projects within the shear zone, the company owns the Hermitage project, which includes a 27 kilometer long portion of the Hermitage Flexure crustal structure.
The next phase of the program will be focused on new targets at the Malachite project, building on work completed in the winter that resulted in grades of up to 627 parts per billion gold and 1.99 percent copper at near-surface depth.
AuMEGA also announced it has commenced greenfield till surveying at the Intersection project within the Cape Ray shear zone. This is the first exploration work carried out at the highly prospective zone.
Weekly gain: 19.23 percent; market cap: C$12.16 million; share price: C$0.155
Exploration at the Crown project has so far been concentrated on four primary project areas — Orion, Fairweather, Delta and Electrum — with large portions of the property being unexplored.
This drilling is building on results from Goldstorm’s 2023 exploration program, during which drilling “discovered both high-grade vein-type and porphyry style gold-silver mineralization.” The first was seen in a hole that encountered 57.34 g/t gold and 214.27 g/t silver over 2.1 meters, and the second in a drill hole that graded 0.77 g/t gold and 4.43 g/t silver over 110 meters, including 1.13 g/t gold and 6.02 g/t silver over 61.5 meters.
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.
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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