5 Top Weekly TSXV Stocks: ATAC Rises on Bid from Victoria Gold

VGCXThe S&P/TSX Venture Composite Index (INDEXTSI:JX) trended upward last week.

After opening at 616.69 on Monday (February 13), the index moved moderately higher, closing the period at 627.85.

A speech from Paul Beaudry, deputy governor of the Bank of Canada, caught Canadian investors’ attention mid-week. He emphasized that the central bank remains focused on its 2 percent target for inflation, and said the public shouldn’t be concerned if the country takes a different path back to normalization compared to its peers.

Read on to see which TSXV-listed resource stocks saw the biggest share price gains last week.

1. Satori Resources (TSXV:BUD)

Weekly gain: 60 percent; current share price: C$0.16; market cap: C$17.39 million

Gold exploration company Satori Resources is focused on exploring its flagship Tartan Lake gold mine project in Manitoba’s Flin Flon greenstone belt. The site hosts a past-producing mine that put out 47,000 ounces of gold between 1987 and 1989, as well as a processing plant and surface infrastructure. Satori has seen promising drill results from exploration over the past few years.

Although the company didn’t release news last week, it shared a major update the week before. On February 7, Satori announced that Rob McEwen has acquired 37.6 percent of the company, becoming its largest shareholder. Satori is proposing to acquire McEwen’s exploration company Apollo Exploration, which has exploration projects near significant gold mines and projects across Canada.

Satori is planning to change its name and ticker symbol once the deal closes, and also shared other next steps in the release. The news led to continued gains for Satori, which started February at a share price of C$0.04.

2. Pasofino Gold (TSXV:VEIN)

Weekly gain: 51.02 percent; current share price: C$0.74; market cap: C$26.73 million

Pasofino Gold is a Canada-based explorer currently focused on the Dugbe gold project in Liberia, in which its wholly owned subsidiary ARX Resources holds a 49 percent economic interest. The remaining 51 percent is owned by Hummingbird Resources’ subsidiary Hummingbird Resources Liberia. In November 2022, Pasofino announced its intent to exercise its right to own 100 percent of Dugbe by acquiring the remaining interest in exchange for 51 percent of Pasofino.

Last Monday, Pasofino shared that it will be doing a strategic review of the Dugbe gold project with Hummingbird.

3. ATAC Resources (TSXV:ATC)

Weekly gain: 46.15 percent; current share price: C$0.095; market cap: C$20.98 million

ATAC Resources is a gold and copper exploration company searching for the metals in Yukon and BC, Canada, as well as Nevada, US. Its portfolio includes the Rackla gold project in Yukon, as well as three others in the territory, and the PIL copper-gold project in BC.

Last Monday, ATAC shared that in January it received an offer from Victoria Gold (TSXV:VGCX,OTC Pink:VITFF), which wanted to acquire 100 percent of ATAC at a price of C$0.12 per share. Although ATAC has turned down the offer, which it said does not “fully captured the significant value of ATAC,” it is now engaging other parties to consider alternatives.

4. Bravo Mining (TSXV:BRVO)

Weekly gain: 36.8 percent; current share price: C$3.68; market cap: C$345.42 million

Exploration and development company Bravo Mining is advancing its 100 percent owned Luanga project in Brazil’s Carajás mineral province. Luanga is palladium dominant, and also prospective for platinum, rhodium, gold and nickel. The company previously discovered a large nickel and copper sulfide intercept at the project’s central zone.

Bravo Mining announced last Tuesday (February 14) that new assays from drilling at the Luanga project’s central and south zones “identified a new zone and style of nickel sulphide mineralization,” which the company states is potentially magmatic.

5. Arras Minerals (TSXV:ARK)

Weekly gain: 32.43 percent; current share price: C$0.49; market cap: C$30.49 million

Arras Minerals has a portfolio of copper and gold assets in Kazakhstan, including its flagship Beskauga copper-gold porphyry deposit. The company currently has an earn-in option agreement that will allow it to acquire a 100 percent interest in Beskauga after spending C$15 million on exploration over four years and an additional C$15 million payment.

Last Monday, Arras said it has acquired three more mineral exploration licenses in Kazakhstan that together add up to 364 square kilometers. The licenses were granted by the country’s Ministry of Industry and Innovational Development and bring Arras’ land package up to a total of 3,300 square kilometers.

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.

Don’t forget to follow us @INN_Resource for real-time updates!

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.

From Your Site Articles

Comments are closed.