Increases in spending in the service sector saw contributions from health care, housing and utilities, while higher spending for goods came from auto sales, recreational goods and furnishings.
Equity markets saw broad gains above 1 percent on Friday but were mixed over the past week.
How has this affected small-cap mining companies on the TSX Venture Exchange? These are the top 5 gainers from the past week.
Weekly gain: 93.1 percent; market cap: C$31.28 million; share price: C$0.28
Alaska Energy Metals is an exploration company working to advance its critical mineral properties in Alaska, US, and Quebec, Canada. The company’s flagship property, the Nikolai project, is located in Southeast Alaska and hosts the Eureka deposit. In a resource estimate from a technical report published in February, the company reported contained indicated values of 3.88 billion pounds of nickel, 1.28 billion pounds of copper, 303 million pounds of cobalt along with 4 million ounces of platinum from 813 million metric tons.
Weekly gain: 44.23 percent; market cap: C$121.94 million; share price: C$0.375
Nevada King Gold is a gold exploration company focused on the advancement of its Atlanta Gold project in southeast Nevada, US. The property is home to a past-producing open-pit gold mine that produced 110,000 ounces of gold and 800,000 ounces of silver between 1975 and 1985.
The site consists of six primary zones, and according to a 2020 resource estimate hosts measured and indicated quantities of 460,000 ounces of gold and 4.22 million ounces of silver from 11 million metric tons of ore, with additional inferred values of 142,000 ounces of gold and 1.24 million ounces of silver from 5.31 million metric tons of ore.
Weekly gain: 42.86 percent; market cap: C$24.73 million; share price: C$0.05
Abcourt Mines is a gold exploration and development company focused on operations at its Sleeping Giant mine in the Abitibi region of Quebec, Canada. The mine property consists of four mining leases covering an area of 458 hectares and 69 claims. The site hosts an underground mine along with a mill capable of processing 750 metric tons per day.
The company also owns the Pershing-Manitou gold exploration project also located in the Abitibi region is composed of 322 claims covering an area of 12,307.55 hectares. Abcourt has been carrying out bulk sampling using the mill at Sleeping Giant.
Weekly gain: 34.92 percent; market cap: C$54.62 million; share price: C$0.425
Volt Lithium is a lithium development and production company working to advance its Direct Lithium Extraction (DLE) technology. The company is currently operating in the Permian Basin to develop its DLE technology which will allow it to extract battery grade lithium from oilfield brines. Oilfields in the basin produce 19 million barrels of brine per day.
Weekly gain: 28.7 percent; market cap: C$183.96 million; share price: C$2.87
Founders Metals is a gold exploration company working to advance exploration efforts at its Antino Gold project in southeast Suriname. The property covers 238 square kilometers and has the necessary permits for drilling and mining. The site has previously hosted small-scale open pit mining operations with approximately 500,000 ounces of gold having been extracted.
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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