The S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a gentle rise last week, ending up 1.89 percent.
The Bank of Canada held interest rates steady at its latest policy meeting, but officials reportedly discussed another hike. The central bank has a 2 percent target for inflation, and a “higher for longer” strategy may be needed to get back to that level.
Meanwhile, in the commodities sector, both gold and silver were on the rise, with the former approaching its all-time high and the latter moving past US$26 per ounce. Both have retreated since then, but remain elevated.
Read on to see which TSXV-listed resource stocks saw the biggest share price gains last week.
Weekly gain: 121.05 percent; market cap: C$15.82 million; current share price: C$0.21
GMV Minerals is focused on its Arizona-based Mexican Hat project, which it says was explored by Placer Dome’s US division in the late 1980s and early 1990s. The epithermal deposit currently has an inferred resource of 688,000 ounces of gold.
GMV hasn’t released news since the end of February, but its share price rose 121.05 percent last week to hit C$0.21.
Weekly gain: 65.22 percent; market cap: C$18.68 million; current share price: C$0.19
Empire Metals has several assets in its portfolio. Its Buck Lake platinum-palladium-nickel-gold project is in Ontario, as are its Gwyn Lake gold project and Graphite West project, while its Fox Creek lithium asset is in Alberta.
The company’s share price rose 65.22 percent last week, although it hasn’t released fresh news since early February.
3. Silver Viper Minerals (TSXV:VIPR)
Weekly gain: 58.33 percent; market cap: C$19.61 million; current share price: C$0.19
With a focus on precious metals exploration in Mexico’s Sonora state, Silver Viper Minerals is moving forward at its La Virginia gold-silver project. The company is working to expand on historic drilling covering 52,000 meters across 188 holes completed from 2010 to 2013; it is continuing north into untested areas where its El Rubi discovery is located.
Last Friday (April 14), Silver Viper upsized a previously announced non-brokered private placement to 33 million units priced at C$0.10 each for aggregate gross proceeds of up to about C$3.3 million. Of that amount, C$1,377,798 is already closed.
Silver Viper’s share price rose 58.33 percent last week to end at C$0.19.
4. North Peak Resources (TSXV:NPR)
Weekly gain: 44.62 percent; market cap: C$22.4 million; current share price: C$0.94
North Peak Resources is interested in acquiring properties in the northern hemisphere with low-cost, near-term production potential and the ability to produce for eight years or more. It currently has an option to acquire the Kenogami Lake project in Ontario. According to the company, it is backed by many of the same people who founded Kirkland Lake Gold.
Last week, North Peak announced the signing of a non-binding letter of intent to acquire the Prospect Mountain mine complex in Nevada’s Eureka district from Nevada LLCs Solarljos and Gullsil.
“The dual gold and base metal geologic systems and historic mining at the Prospect Mountain Mine complex offers the possibility of finding the high-grade mineralization and reserves that would be required for profitable surface or underground mining given today’s capex and opex costs,” North Peak CEO Brian Hinchcliffe said.
The company’s share price rose 44.62 percent last week to close at C$0.94.
5. Deep-South Resources (TSXV:DSM)
Weekly gain: 43.75 percent; market cap: C$17.88 million; current share price: C$0.115
Deep-South Resources has honed its efforts on exploring and developing quality assets, with its main property being the Haib copper project in Namibia. Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) owns 16 percent of the company.
Deep-South last released news in mid-March, but its share price rose 43.75 percent last week to hit C$0.115.
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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Silver Viper Minerals is a client of the Investing News Network. This article is not paid-for content.
Image and article originally from investingnews.com. Read the original article here.