This news has lowered the chances of a September rate cut from the Federal Reserve as it continues to work toward reducing inflation to its target of 2 percent. The central bank’s next Federal Open Market Committee meeting, which will run from June 11 to 12, will coincide with the release of May consumer price index data out of the US.
Against that backdrop, gold traded sharply lower on Friday, slipping more than 2.5 percent toward the US$2,310 per ounce mark. Silver was down more than 5 percent, falling to under US$29.65 per ounce.
Read on to learn about the top five gainers on the TSX Venture Exchange last week.
Weekly gain: 71.43 percent; market cap: C$10.23 million; share price: C$0.30
European Energy Metals is an exploration company primarily focused on the advancement of lithium, cesium and tantalum projects in Finland. Its Finnish properties include the Nabba project, which consists of an 11,960 hectare license located in an area of Northern Finland that has known lithium deposits. Also within the region is the company’s Lappajarvi project, which is comprised of two licenses that cover 212,000 hectares and host over 190 pegamatite occurrences.
Weekly gain: 54.71 percent; market cap: C$53.88 million; share price: C$0.185
Weekly gain: 27.66 percent; market cap: C$14.81 million; share price: C$0.30
Sage Potash is a potash exploration company 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: 26.88 percent; market cap: C$35.16 million; share price: C$0.59
Resouro Strategic Metals is a polymetallic explorer and developer advancing its mineral properties in Brazil.
Its Tiros rare earths and titanium project is located in Minas Gerais, and is comprised of 17 exploration permits covering an area of 450 square kilometers. The company’s Novo Mundo gold project is located in the Alta Floresta gold province in Central Brazil and consists of three licenses totaling 167 square kilometers.
Weekly gain: 26.56 percent; market cap: C$46.58 million; share price: C$0.405
Midnight Sun Mining is a copper exploration company focused on advancing its flagship Solwezi project in Zambia.
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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