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.
The agency attributes the deceleration largely to gasoline prices, which saw a year-on-year gain of 0.4 percent in June versus 5.8 percent the previous month. The cost of food purchased from stores increased by 2.1 percent year-on-year.
On a monthly basis, CPI fell 0.1 percent, down from a month-on-month gain of 0.6 percent in May. Statistics Canada reported that the biggest factors were an 11.1 percent decrease in travel tours and a 3.1 percent fall in gas prices.
Copper mining jumped by 2,551.23 metric tons over April to come in at 44,261.57 metric tons.
How did junior resource stocks listed on the TSX Venture Exchange perform this past week? The five mining and energy companies below were the best performers by share price gains.
Weekly gain: 51.85 percent; market cap: C$20.04 million; share price: C$0.82
Pulsar Helium is a development company working to advance its Topaz helium project located 100 kilometers north of Duluth, Minnesota. The site consists of 1,040 acres of private mineral rights; Pulsar holds an exclusive lease with the option to lease an additional 2,092 acres from the same mineral rights holder.
Weekly gain: 26.92 percent; market cap: C$14.49 million; share price: C$0.165
Solis Minerals is a copper and lithium explorer advancing properties in South America. Its main focus in 2024 has been its Cinto copper project in Peru. The site is composed of seven tenements covering 3,200 hectares in the country’s copper belt. The asset has seen limited exploration, primarily consisting of grab samples and satellite imaging.
In addition to that, the company signed an access agreement with the Carumbraya community to fast track the next phase of its exploration program. Solis said it has already deployed drones to collect magnetometer readings, and will be using geological mapping to guide drill permitting at the site.
Weekly gain: 25.53 percent; market cap: C$64.75 million; share price: C$0.59
Explorer Hannan Metals is focused on advancing gold, silver and copper deposits in Latin America.
The San Martin project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency established in 2004 to secure stable resources and fuel supplies. Under the terms of the agreement, JOGMEC can earn up to a 75 percent stake in the project if all its funding goals are met.
The Peru-based site hosts a copper and silver system with 120 kilometers of combined strike. Exploration has shown grades at the Tabalosos target of 4.9 percent copper and 62 grams per metric ton (g/t) silver over 2 meters.
Hannan also wholly owns the Valiente project, which hosts a previously unknown porphyry and epithermal mineralized belt within a 140 kilometer by 50 kilometer area containing copper, gold, molybdenum and silver.
Weekly gain: 25 percent; market cap: C$10.5 million; share price: C$0.125
Usha Resources is a mineral acquisition and exploration company with interests in North American lithium, copper and gold projects. The company has an earn-in agreement for the White Willow lithium-tantalum project in Thunder Bay, Ontario.
The property is located near Joutel, Québec, and is composed of 76 claims covering 42 square kilometers; it is home to a 7.3 kilometer copper and gold trend that hosts numerous mineralization targets. The most prolific target is Hollywood, where anomalies have been identified over 1.8 kilometers of strike.
Weekly gain: 25 percent; market cap: C$10.98 million; share price: C$0.025
Lode Gold Resources is an exploration company with projects located in Canada and the US, including its Fremont gold project in California, US, which hosts a past-producing high-grade gold mine.
The spinout is part of a broader restructuring plan; Lode expects to complete the spinout by the end of 2024.
Golden Culvert and Win are early stage projects consisting of a combined 509 claims over 99.47 square kilometers. Fieldwork at the site has produced highlighted results of 8.53 g/t gold and 155 g/t silver. Exploration at McIntyre Brook has seen trench samples grading 41.6 g/t gold.
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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