The two had been negotiating up until this past Wednesday (May 29), but negotiations ultimately collapsed due to Anglo’s perceived risk and regulatory challenges surrounding the required spinout of its South African assets. Under UK rules, BHP will not be able to make another bid for six months, unless a competing bid is made for Anglo.
As for metals prices, copper declined 2.37 percent from the beginning of the week to reach US$10,016 per metric ton (MT), while gold declined 0.29 percent to finish the week at US$2,347.70 per ounce. Silver posted a slight gain, rising 0.08 percent to close the week at US$30.38 per ounce, still holding above the US$30 mark.
Against that backdrop, which TSXV-listed mining and energy stocks performed the best? Find out below.
Weekly gain: 74.31 percent; market cap: C$254.3 million; share price: C$3.80
Bravo Mining is an exploration and development company focused on its Luanga project in Brazil.
The 7,810 hectare property is located in Brazil’s Carajás mineral province, which hosts major mining operations supplying iron, copper, nickel and manganese. Exploration at the Luanga project has revealed mineralized deposits containing palladium, platinum, rhodium, gold, copper and nickel. A 2023 maiden mineral resource estimate includes indicated resources of 4.1 million ounces of palladium equivalent from 73 million MT at a grade of 1.75 grams per metric ton (g/t), with inferred resources of 5.7 million ounces of palladium equivalent from 118 metric tons grading 1.5 g/t.
The company said it also encountered similar mineralization from the second zone, but is still waiting on pending assays. Bravo added it is encouraged by the discovery of high-grade copper in the project area.
Weekly gain: 70.73 percent; market cap: C$55.02 million; share price: C$0.35
Cabral Gold is an explorer and developer working to advance its flagship Cuiú Cuiú gold project in Brazil.
Weekly gain: 59.09 percent; market cap: C$13.93 million; share price: C$0.35
Cascadia Minerals is an explorer working to further its portfolio of projects located in Northwestern Canada.
The company’s most active project in 2024 has been its Catch property in Yukon. The 117 square kilometer property is located southeast of Carmacks, and is host to extensive copper and gold soil anomalies. Drilling at the site began in 2023, and Cascadia is currently working on a follow-up program. The company’s other projects consist of the PIL property in Northern BC, which lies within the Toodoggone region and hosts deposits of copper, gold and silver.
Cascadia has two other Yukon projects that have seen limited exploration: Sands of Time, which hosts two large molybdenum and copper anomalies, and Rosy, which hosts gold, silver and copper mineralization.
Weekly gain: 50 percent; market cap: C$20.03 million; share price: C$0.045
The company did not release news this past week.
Weekly gain: 33.33 percent; market cap: C$15.41 million; share price: C$0.02
Gabriel Resources is a precious metals explorer and developer focused on advancing its Rosia Montana gold project. Based in Transylvania, Romania, Rosia Montana is in a region that has seen significant historic mining. Covering 2,388 hectares, the site is host to a mid-to-shallow epithermal system containing deposits of gold and silver.
Gabriel has invested more than US$760 million into Rosia Montana, but has undertaken little development at the site since the early 2010s, as Romania blocked further development.
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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