The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined last week, finishing the short trading period at 625.41.
Market watchers are closely eyeing the Bank of Canada, which is expected to hold interest rates steady this coming Wednesday (April 12). After hiking eight times in a row, the central bank left its benchmark lending rate unchanged in March.
“For the (Bank of Canada), we still expect a hold,” James Orlando of TD Economics told Reuters. “They will likely be concerned about the rebound in economic activity, but we think they are still hopeful of a deceleration over the remainder of 2023.”
Read on to see which TSXV-listed resource stocks saw the biggest share price gains last week.
Weekly gain: 50 percent; market cap: C$14.24 million; current share price: C$0.015
Antioquia Gold is a gold explorer and developer that has a producing gold asset, its 100 percent owned Cisneros project in Colombia. Last year, Cisneros produced 48,950 ounces of gold in concentrate, which was an increase of 29 percent over 2021.
While the company hasn’t released news since its 2022 production update in February, its share price was up 50 percent last week.
Weekly gain: 49.12 percent; market cap: C$33.66 million; current share price: C$0.425
Allied Copper is focused on using its proprietary direct lithium extraction (DLE) technology to become a producer of lithium hydroxide and lithium carbonate from oil field brine at its Alberta-based Rainbow Lake project. The company’s lithium division is named Volt Lithium, to which Allied Copper plans to change its name, pending approval. Allied Copper also has two projects in the US: the Stateline copper-silver project in Colorado and the SK copper-gold project in Nevada.
Last Thursday (April 6), Allied Copper announced a breakthrough with Volt Lithium’s DLE technology. The new version, IES-300, maintains IES-200’s 93 percent lithium recoveries and reduces the amount of reagent required, lowering operating costs.
Weekly gain: 48 percent; market cap: C$15.93 million; current share price: C$0.37
Kobo Resources is a gold explorer working on its wholly owned Kossou gold project in Côte d’Ivoire. At the end of March, a reverse takeover between Meteorite Capital and Kobo Resources was completed, and the resultant entity is operating as Kobo Resources.
Last Monday (April 3), Kobo Resources opened the TSXV market to celebrate its listing on the exchange. The company’s share price had moved from C$0.36 to C$0.75 by the end of the day.
Weekly gain: 41.67 percent; market cap: C$24.34 million; current share price: C$0.085
Sable Resources is a precious metals and copper exploration company working on its portfolio of projects in Argentina and Mexico. The company is currently undertaking a drill program at the Don Julio project in Argentina’s San Juan province.
Sable’s most recent news was drill results from Don Julio on March 7. Although it didn’t release news last week, its share price rose significantly, peaking at C$0.90 last Wednesday (April 5).
Weekly gain: 41.02 percent; market cap: C$951.37 million; current share price: C$5.81
NGEx Minerals’ primary asset is the Los Helados copper-gold project in Chile, and it also has a portfolio of exploration properties in Argentina, including the Valle Ancho copper-gold project and the Potro Cliff copper-gold exploration target near Los Helados.
Last Tuesday (April 4), NGEx announced a new discovery from a maiden drill program at the Potro Cliff target. The company is interpreting the results as the “first intercepts into the edges of a major new copper-gold system.” One highlight interval is 60 meters at 7.52 percent copper equivalent, including 10 meters at 18 percent copper equivalent.
Data for this 5 Top Weekly TSXV Performers articles was retrieved on Thursday (April 6) after market close using TradingView’s stock screener. Only companies with market capitalizations greater than C$10 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Image and article originally from investingnews.com. Read the original article here.