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The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) closed final week within the pink, falling 0.75 p.c.
Within the resource sector, all eyes have been on the gold worth because it edged nearer to the US$2,000 per ounce mark. The yellow steel usually responds positively within the face of turmoil, and has been spurred on by financial institution collapses within the US.
Banking sector considerations have unfold globally as nicely, with UBS (NYSE:UBS) stepping in to amass Switzerland’s Credit score Suisse (NYSE:CS), which has confronted a deterioration in confidence in current months.
Learn on to see which TSXV-listed useful resource shares noticed the most important share worth features final week.
1. Vertical Exploration (TSXV:VERT)
Weekly acquire: 100%; present share worth: C$0.12; market cap: C$11.71 million
Vertical Exploration is a North America-focused explorer, and its flagship undertaking is the manufacturing St-Onge wollastonite undertaking within the Lac-Saint-Jean area of Quebec, Canada. It additionally has the Ménard-Péribonka wollastonite property, which it acquired in 2022.
Wollastonite is a mineral composed of practically equal components calcium oxide and silica, and it has quite a lot of makes use of, together with in development and agriculture. Vertical Exploration has accomplished a number of offtake agreements and gross sales of its product, the biggest of which was with a vineyard in Kelowna, BC, final 12 months.
Though the corporate hasn’t launched any information since a January exploration update for Ménard-Péribonka, its share worth has climbed dramatically in March after beginning the month at C$0.04, solely choosing up additional momentum final week.
2. Santacruz Silver Mining (TSXV:SCZ)
Weekly acquire: 90 p.c; present share worth: C$0.57; market cap: C$136.85 million
Santacruz Silver Mining is a South American silver miner with producing property in Bolivia and Mexico, in addition to an exploration undertaking in Bolivia. The corporate’s Bolivar and Porco operations are a part of a three way partnership settlement with the Bolivian authorities, which owns 55 p.c in comparison with Santacruz’s 45 p.c. Santacruz acquired a portfolio of producing assets in Bolivia from main miner Glencore (LSE:GLEN,OTC Pink:GLCNF) final 12 months.
Santacruz is one other high weekly gainer that hasn’t launched information since January, when it shared its 2022 production results. Whatever the lack of reports, it climbed considerably final week after opening the interval at C$0.31.
3. Midland Exploration (TSXV:MD)
Weekly acquire: 41.41 p.c; present share worth: C$0.70; market cap: C$49.45 million
Polymetallic undertaking generator Midland Exploration describes itself as “dynamic and aggressive” in its seek for world-class deposits in Quebec. The corporate has dozens of tasks all through the Abitibi, James Bay, Nunavik, Appalachian and Grenville areas. The tasks span a variety of metals, together with gold, lithium, nickel and copper, alongside different base and precious metals.
Midland’s most up-to-date information got here on March 6, when it completed a lithium-focused targeting study in James Bay. The examine recognized new extremely potential targets on Midland’s present properties; the corporate additionally acquired new tasks on February 28 which were proven to have lithium potential.
Regardless of the shortage of contemporary information, the corporate’ share worth spiked on the finish of final week, shifting from C$0.52 to C$0.70 between the shut of buying and selling on Wednesday (March 15) and shut of buying and selling on Friday (March 17).
Weekly acquire: 34.48 p.c; present share worth: C$0.195; market cap: C$19.7 million
Fairness Metals is targeted on its Silver Queen gold-silver undertaking in BC, wherein it has 100% curiosity. Fairness additionally has pursuits in two diamond tasks, Monument and WO, each within the Northwest Territories’ Lac de Gras area in Canada.
The corporate’s final information merchandise got here in late January, when it launched a corporate update. Though it has seen no current information, Fairness’s share worth spiked final week, significantly throughout Friday’s buying and selling interval.
5. Guanajuato Silver (TSXV:GSVR)
Weekly acquire: 31.51 p.c; present share worth: C$0.48; market cap: C$183.6 million
Guanajuato Silver is a silver miner with a number of producing property in Mexico, together with the El Cubo and Valenciana mine complexes, and the Topia and San Ignacio mines. The latter three have been acquired in 2022, when Guanajuato bought Nice Panther Mining’s (OTC Pink:GPLDF) Mexican subsidiary. The deal additionally included the Cata processing plant and the manufacturing facility on the Topia mine.
Guanajuato Silver launched information final Thursday (March 16), saying the association of “a brand new US$5,000,000 silver and gold pre-payment facility with Swiss-based valuable metals buying and selling agency, OCIM Metals & Mining.” It should substitute the ability at the moment in place between the 2 entities, which had a stability of US$5.5 million. In line with the corporate’s CFO Lisa Dea, the brand new facility will give Guanajuato stability sheet flexibility as the corporate ramps up operations at its mines.
After climbing by way of final week, Guanajuato’s share worth jumped on Friday.
Information for five High Weekly TSXV Performers articles is retrieved every Friday after market shut utilizing TradingView’s stock screener. Solely corporations with market capitalizations larger than C$10 million previous to the week’s features are included. Firms inside the non-energy minerals and power minerals are thought-about.
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Securities Disclosure: I, Lauren Kelly, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Charlotte McLeod, maintain no direct funding curiosity in any firm talked about on this article.
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