22,000 jobs were added to the Canadian economy in August with 66,000 part-time job gains being offset by 44,000 full-time job losses. With the overall employment rate ticking down just 0.1 percent to 60.8 percent, the underlying shift shows employment growth is being outpaced by population growth.
With 7.1 million people unemployed, the release shows a clear cooling in the economy from one year ago when the unemployment rate was 3.8 percent and the number of unemployed people was at 6.3 million.
Waller’s statements are the clearest indication of the Federal Open Market Committee’s intentions ahead of its next policy meeting on September 17 and 18.
How have resource stocks on the TSX and TSX Venture Exchange been impacted? Keep reading for the top 5 performers this week.
Weekly gain: 93.94 percent; market cap: C$85.32 million; share price: C$0.32
American Creek saw significant gains on Friday after it announced it will be acquired by Cunningham Mining. The terms will see Cunningham pay C$0.43 per common share of American Creek, a 274 percent premium over the company’s June 5 closing price of C$0.115.
Weekly gain: 40 percent; market cap: C$13.95 million; share price: C$0.035
Patagonia Gold is a precious metals exploration, development and production company primarily focused on advancing its Cap-Oeste and Calcatrau underground projects in Argentina.
Located in Santa Cruz province, Cap-Oeste hosted open-pit mining operations until 2018. While Patagonia is working on the exploration and development of the underground resource at the site, it has been able to recover gold and silver from residual leaching on site.
According to the company’s website, a 2018 mineral resource estimate for Cap-Oeste reported measured and indicated values of 704,300 ounces of gold and 21.43 million ounces of silver from 10.56 million metric tons of ore with average grades of 2.07 g/t gold and 63.2 g/t silver.
Weekly gain: 38.89 percent; market cap: C$25.58 million; share price: C$1.25
Petro Victory Energy is an oil and gas development and production company working to advance its properties in Brazil. The company’s assets consist of 38 fully owned licenses covering a total of 257,604 acres in Brazil’s Portiguar and Barreirinhas basins.
The company says that it has proven and probable reserves of 6.87 million barrels of oil equivalent with a net present value of US$257.7 million at a discount rate of 10 percent. Additionally, the company reported its best estimate for an additional 50.1 billion cubic feet of natural gas was located at the Sao Joao field, with an estimated net present value of US$97.3 million at a discounted rate of 10 percent.
The company also announced it has entered into a partnership with Azevedo Travassos Petroleo (ATP) to develop the Andorinha field and Block 281. The partnership will see ATP funding a workover program at the CR-2 well at block 281 as well as the drilling of two in-field wells at Andorinha. Once costs are recovered, the companies will see a 50-50 split of income generated from production.
Weekly gain: 30 percent; market cap: C$32.21 million; share price: C$0.13
Mkango Resources is a rare earths exploration and development company focused on the advancement of rare earths mining and recycling projects.
HyProMag will receive 350,125 euros in funding to advance its NeoLeach chemical process that will further upgrade products being commercialized via its hydrogen processing of magnet scope process in Germany, the UK and the US.
Weekly gain: 26.47 percent; market cap: C$55.52 million; share price: C$0.215
Panoro Minerals is a copper exploration company focused on the advancement of its flagship Cotabambas project in the Apurimac region of southern Peru.
Consisting of two primary mineralized zones, exploration on the property dates back to the mid-90s and has largely been focused on an 18 square kilometer area in the northeast portion of the property.
The company saw gains this past week, but has not published a news release.
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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