5 Top Weekly TSXV Stocks: West High Yield Up on Gold Drill Permit
Last week’s top-gaining mining stocks on the TSXV were West High Yield, ZEN Graphene, Western Atlas, Euro Manganese and ShaMaran Petroleum.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) took a hit last week along with many markets, but was able to finish the period at 694.75.
Last week’s slump, which some have hailed as a natural and needed correction, hit the metals sector as well, sending the gold price well below US$1,900 per ounce.
There has been speculation that the turmoil will continue on into the week ahead as investors await the final US jobs report before the presidential election in November.
Against that backdrop, the TSXV-listed mining companies below saw major share price moves last week:
Here’s a look at what may have moved their share prices over the last five days.
1. West High Yield Resources
West High Yield Resources describes itself as an exploration company focused on developing economic gold, nickel and magnesium properties in Canada.
Last week, the company announced that it’s been granted a drill permit that it will allow it to complete 22 holes of up to 600 meters each at its Midnight gold claim in BC’s Rossland Gold Camp. On the back of the news, West High Yield’s share price increased 78.57 percent to finish at C$0.25.
2. ZEN Graphene Solutions
Graphene technology company ZEN Graphene Solutions creates graphene products using graphite sourced from its Albany graphite deposit in Ontario. ZEN describes Albany as “globally unique,” and the graphene products the company is able to create include graphene oxide and graphene quantum dots.
Last Monday (September 21), ZEN announced that it has developed a novel graphene-based virucidal ink with 99 percent effectiveness against COVID-19. The company is inviting personal protective equipment companies to reach out for partnerships, and is planning to expedite commercialization of its product.
The news sent the company’s share price up 44.19 percent to close at C$0.62.
3. Western Atlas Resources
Western Atlas Resources’s goal is to acquire and develop scalable precious metals projects in pro-mining jurisdictions. The company is currently focused on its Meadowbank project in Nunavut, where it completed an initial diamond drill program at the end of August.
No news was shared by Western Atlas last week, but the company’s share price nevertheless leaped 40.91 percent to close at C$0.16.
4. Euro Manganese
Euro Manganese is developing a new high-purity manganese production facility that it says will be based on the recycling of material from the Chvaletice tailings deposit located in the Czech Republic. Its aim is to become a producer of high-purity electrolytic manganese metal and manganese sulfate for producers of lithium-ion battery precursor materials, among other end users.
Last week brought several pieces of news from Euro Manganese, including executive appointments and the announcement of a date for the release of various securities from ASX escrow. It also commented on an ASX trading halt. Euro Manganese’s share price rose 38.46 percent last week to finish at C$0.18.
5. ShaMaran Petroleum
Oil exploration and development company ShaMaran Petroleum has honed its efforts on its 27.6 percent direct interest in the Atrush block production-sharing contract. Atrush is located in Northern Iraq.
Last Wednesday (September 23), ShaMaran provided a press release commenting on its share price movement and market reports of an interest in the company. In the document, ShaMaran states that it “has has not received any expression of interest from Abu Dhabi National Energy Company.” Still, the company’s share price rose 28.57 percent last week to finish at C$0.05.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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: ZEN Graphene Solutions is a client of the Investing News Network. This article is not paid-for content.