The bank’s statement indicates that it believes inflation is moving in the right direction and is confident that it will be able to lower rates this year; this echoes language used by the US Federal Reserve at its March meeting.
The news had little impact on precious metals, with gold continuing to soar past US$2,400 per ounce. Silver also saw significant gains this past Thursday (April 11) as it broke through US$28 per ounce for the first time since 2020.
How have these events affected small-cap resource stocks? These are the top five gainers for the week.
Weekly gain: 55.56 percent; market cap: C$10.28 million; current share price: C$0.14
Juggernaut Exploration is an exploration company with three gold-copper projects in BC, Canada: the 20,803 hectare Midas project and 9,852 hectare Empire project, and the Golden Triangle-based 1,008 hectare Bingo project.
Juggernaut completed drill programs at Midas and Bingo last summer and released assay results in December.
Weekly gain: 54.84 percent; market cap: C$198.35 million; current share price: C$2.40
Robex’s share price saw gains last week, but the company did not release any news.
Weekly gain: 40 percent; market cap: C$38.17 million; current share price: C$0.07
PPX Mining is a precious metals company that is focused on its Igor project, which contains the operating Callanquitas underground mine, located in the Otuzco province of Northern Peru.
Weekly gain: 37.5 percent; market cap: C$27.03 million; current share price: C$0.22
Benz Mining is a gold and lithium explorer that has centered its efforts around two properties in Québec, Canada.
The company saw strong share price gains this past week, but did not release any news.
Weekly gain: 35.48 percent; market cap: C$10.99 million; current share price: C$0.42
The company also owns three other gold projects in Papua New Guinea: SPMC North, May River and Kili Teke.
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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