The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the decline last week, ending at 513.78.
Market participants were eyeing the latest jobs data out of the US, which shows that the unemployment rate fell to 3.6 percent in June from 3.7 percent the previous month. The economy added 209,000 jobs in June, which was less than expected.
In Canada, the unemployment rate ticked up in June, reaching 5.4 percent. That’s the highest point since February 2022, and all six of the country’s major banks are reportedly now expecting an interest rate increase next week.
Against that backdrop, a variety of TSXV-listed resource stocks made moves over the last five days. Read on to find out which companies rose the most during the period and what was affecting their share prices.
1. Aurania Resources (TSXV:ARU)
Weekly gain: 56.67 percent; market cap: C$24.45 million; current share price: C$0.47
Aurania Resources is a precious metals and copper exploration company focused on its flagship project, the Lost Cities – Cutucu gold-copper project in Ecuador; the company also owns the Vicus property in Peru. Aurania shared its 2023 exploration plans in April.
Last Monday (July 3), the company renewed 94 annual mineral concession applications for its Vicus property, and chose not to renew 36. According to a release from Aurania, the renewed concessions, which cover 93,100 hectares, were chosen due to their higher geological potential. The company said it is looking for a potential partner or a corporate transaction for Vicus to reduce or eliminate the costs associated with the non-core asset.
Aurania’s share price hit a weekly peak of C$0.48 last Wednesday (June 5).
Weekly gain: 38.89 percent; market cap: C$11.77 million; current share price: C$0.125
District Metals is a polymetallic explorer and developer focused on its projects in Sweden. The company has the Viken uranium-vanadium project and Tomtebo polymetallic project in the Scandinavian country.
District Metals’ most recent news came on June 22, when it announced that its subsidiary Bergslagen Metals received approval for its mineral license application for the Ardnasvarre property, at which it can now explore for copper, molybdenum, zirconium and rare earth elements. While the company didn’t release news last week, its share price shot up during the period.
3. Consolidated Lithium Metals (TSXV:CLM)
Weekly gain: 20 percent; market cap: C$24.89 million; current share price: C$0.09
Consolidated Lithium Metals — previously Jourdan Resources — is focused on developing its hard-rock spodumene lithium projects in Quebec. Its current projects are the Vallée lithium, Baillarge lithium-molybdenum and Preissac-La Corne lithium projects.
On June 23, Jourdan announced it was changing its name to Consolidated Lithium Metals to reflect its joint venture with North American Lithium, which has the right to earn up to a 51 percent stake in the Vallée project.
Last Tuesday (July 4), the company retained INFOR Financial for market-making services. Its share price moved up throughout the latter half of last week, peaking at C$0.09 early in Friday’s (June 7) trading day.
4. Clean Air Metals (TSXV:AIR)
Weekly gain: 20 percent; market cap: C$12.31 million; current share price: C$0.06
Clean Air Metals is a platinum and palladium company exploring its Thunder Bay North critical metals project. Located in the Thunder Bay region of Ontario, Canada, the asset has platinum, palladium, copper and nickel mineralization. The company released a mineral resource estimate for Thunder Bay North in May, and it is now focused on advancing technical studies for the project.
Clean Air Metals didn’t release any news last week, but its share price hit a high of C$0.06 on both Thursday (July 6) and Friday.
Weekly gain: 19.05 percent; market cap: C$66.88 million; current share price: C$0.50
Condor Resources is an explorer and project generator with a portfolio of 12 precious and base metals projects in Peru. The company finances its exploration through the project generator model, meaning it discovers promising properties, completes initial prospecting and then seeks a partner for further exploration and advancement.
The company hasn’t released news in July, but its share price climbed last week to peak at C$0.51 on Friday.
Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday 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.