Final week’s top-gaining mining shares on the TSXV have been Crown Level, Centaurus Power, Cypress Growth, Petrofrontier and Nouveau Monde.
The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) closed final Friday (January 8) at 897.35, down barely from Monday’s (January 4) open of 897.42.
The index’s peak for the week was 917.3 early on Friday, and its lowest stage was 882.84 on Monday.
Within the commodities house, gold took a hit towards the tip of the week, sinking nicely under the US$1,900 per ounce mark. On the flip slide, oil costs rose to their highest point in nearly a year midweek, spurred larger by a voluntary output minimize from Saudi Arabia and a decline in US inventories.
The TSXV-listed mining shares under noticed the most important share worth strikes final week:
- Crown Level Power (TSXV:CWV)
- Centaurus Power (TSXV:CTA)
- Cypress Growth (TSXV:CYP)
- Petrofrontier (TSXV:PFC)
- Nouveau Monde Graphite (TSXV:NOU)
Right here’s a take a look at what might have moved their share costs during the last 5 days.
1. Crown Level Power
Oil and gasoline junior Crown Level Power boasts money stream from manufacturing and a portfolio that features belongings in two of Argentina’s largest producing basins.
Final Thursday (January 7), Crown Level and Centaurus Power collectively proposed a business combination by way of a non-binding time period sheet. Based on the businesses, the ensuing new entity could be an Argentina-focused oil and gasoline exploration firm with numerous operations and powerful financials.
The present plan could be a 60/40 mixture in favor of Crown Level. Crown Level’s share worth elevated 154.84 p.c final week to shut at C$0.40.
2. Centaurus Power
Centaurus Power is an Argentina-focused upstream oil and gasoline firm with operations in 4 of the nation’s provinces of Argentina. Its goal is to delineate unconventional resources within the Vaca Muerta shale, the Decrease Agrio shale and the Loma Montosa oil performs.
As talked about, final week brought a proposed merger between Crown Level and Centaurus. Like Crown Level, Centaurus loved a significant share worth enhance, leaping 100% to complete at C$0.06.
3. Cypress Growth
Exploration firm Cypress Growth is concentrated on creating its 100% owned Clayton Valley lithium mission in Nevada. The asset is situated instantly east of Albemarle’s (NYSE:ALB) Silver Peak mine, which has been in steady operation since 1966.
The final announcement from Cypress got here on the finish of December, when it received a biological report for Clayton Valley that paperwork environmental baseline research carried out in 2020. Regardless of the shortage of recent information, the corporate’s share worth rose 79.55 p.c final week to finish at C$1.58.
Alberta-focused Petrofrontier has honed its efforts on the event of its pursuits within the province’s Chilly Lake and Wabasca areas. It’s engaged on the first restoration of heavy oil utilizing typical perforated wells (vertical and horizontal) and the intentional manufacturing of sand with the oil
There has not been any current information from Petrofrontier, however the firm’s share worth nonetheless soared 75 p.c final week to finish at C$0.07.
5. Nouveau Monde Graphite
Nouveau Monde Graphite is creating the Matawinie graphite mission in Quebec. The mission is forecast to produce 100,000 tonnes per 12 months over 25.5 years with a median focus purity of 97 p.c. The corporate is concentrating on full-scale industrial operations by 2023, and has committed to using all-electric gear and autos by 2028.
There have been two items of reports from Nouveau Monde final week. First, it shared an update on its 2021 plans — amongst different issues, the corporate mentioned it expects to acquire governmental authorization for Matawinie early in Q1, which is able to enable it to assemble industrial amenities. Second, Nouveau Monde appointed David Torralbo to the place of chief authorized officer and company secretary.
Nouveau Monde’s share worth rose 74.76 p.c final week to shut at C$1.80.
Knowledge for five Prime Weekly TSXV Shares articles is retrieved every Friday at 10:30 a.m. PST utilizing TradingView’s stock screener. Solely corporations with market capitalizations larger than C$10 million previous to the week’s positive aspects are included. Firms inside the non-energy minerals and power minerals are thought-about.
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Securities Disclosure: I, Charlotte McLeod, maintain no direct funding curiosity in any firm talked about on this article.