The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged higher last week, closing at 20,193.25.
The index faced pressure earlier in the period as technology and industrial shares fell, with economic data increasing fears that the US may be headed for a recession. On the commodities front, all eyes were on gold, which surpassed the US$2,000 per ounce mark once again, with sister metal silver following its rally and reaching US$25 per ounce.
Last week, some junior miners saw their stock prices go up, including gold- and silver-focused companies. Here’s a look at the biggest gainers on the TSXV and the factors that moved their share prices last week.
1. SouthGobi Resources (TSX:SGQ)
Taking the top spot last week is SouthGobi Resources, an integrated coal supplier focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of China-Mongolia border. The company also holds mining and exploration licenses for other metallurgical and thermal coal deposits in Mongolia’s South Gobi province.
Last week, SouthGobi’s share price increased 33.33 percent to end at C$0.20. During the period, the company announced that its shares will be delisted from the TSX on April 14 and will begin trading on the TSXV on April 17.
2. Gatos Silver
Gatos Silver owns 70 percent of the Los Gatos joint venture, which includes the Cerro Los Gatos mine and covers more than 103,000 hectares of mineral rights in Mexico. The other 30 percent is owned by Dowa Metals & Mining.
There was no fresh news from Gatos last week, but its share price rose 26.66 percent to end at C$8.98.
3. Galiano Gold
Galiano Gold operates and manages the Asanko gold mine, which is located in Ghana, West Africa, and jointly owned with Gold Fields (NYSE:GFI,LSE:0IYR). The company’s latest news came at the end of March, when it reported that its 2022 gold production reached 170,342 ounces, achieving the upper end of its revised guidance of 160,000 to 170,000 ounces.
Despite not releasing any news last week, shares of Galiano increased 19.44 percent to end at C$0.86.
Americas Gold and Silver operates the Cosalá operations in Sinaloa, Mexico, manages the 60 percent owned Galena complex in Idaho, US, and is re-evaluating the Relief Canyon mine in Nevada, US. It also owns the San Felipe development project in Sonora, Mexico.
Last Tuesday (April 4), Americas Gold and Silver provided an update on the Galena complex, saying it had a solid production start to 2023. The news sent company shares up 18.03 percent to end the five day period at C$0.72.
Last but not least this week is Nighthawk Gold, which is focused on advancing its multimillion-ounce Colomac gold project and exploring its land in Canada’s Northwest Territories. In total, its land position covers over 930 square kilometers.
Last week, shares of Nighthawk Gold increased 17.78 percent to end the five day period at C$0.53. The company did not share any fresh announcements during that time.
Data for this 5 Top Weekly TSXV Performers article was retrieved on Wednesday (April 5) 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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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