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Maritime Assets Leads with Rise of Over 40 %


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The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) was on the decline final week, ending at 585.4.

Within the useful resource sector, the gold value took successful as traders grew extra assured within the US Federal Reserve’s potential to engineer a delicate touchdown. The yellow metallic sank under US$1,900 per ounce mark, persevering with its summer time decline.

Towards that backdrop, a wide range of TSXV-listed useful resource shares made strikes over the past 5 days. Learn on to seek out out which corporations rose essentially the most through the interval and what was affecting their share costs.

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1. Maritime Assets (TSXV:MAE)

Weekly achieve: 42.86 %; market cap: C$21.34 million; present share value: C$0.05

Maritime Assets is a gold and copper exploration firm targeted on its Hammerdown venture in Newfoundland and Labrador’s Baie Verte district, through which it additionally owns a number of different properties.

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On Monday, Maritime shared that New Discovered Gold (TSXV:NFG,NYSEAMERICAN:NFGC) is the lead investor in its beforehand introduced non-public placement, with the latter firm investing US$2 million in Maritime. A portion of the proceeds will probably be utilized by Maritime to finish its acquisition of Level Rousse Mining. Level Rousse owns the Pine Cove mill, which is positioned at its Level Rousse venture in Newfoundland and Labrador.

Maritime and New Discovered Gold additionally signed a non-binding memorandum of understanding associated to the funding permitting New Discovered to carry out due diligence into a possible toll milling settlement for the Pine Cove mill.

The discharge despatched the corporate’s share value upwards final Monday (August 14), and it peaked at C$0.055 throughout buying and selling that day.

2. GMV Minerals (TSXV:GMV)

Weekly achieve: 37.04 %; market cap: C$13.94 million; present share value: C$0.185

US-focused GMV Minerals is a gold improvement firm with its wholly owned Mexican Hat gold venture in Arizona. GMV lately branched out into lithium as nicely, coming into into an choice to earn a one hundred pc curiosity within the Daisy Creek lithium venture in Nevada.

Final Wednesday (August 16), GMV introduced it staked 83 claims adjoining to Daisy Creek, which has doubled their land place to three,408 acres. “… We really feel that the Firm is nicely poised to advance area actions on the Daisy the place similarities exist between what’s seen at Daisy Creek and Lithium America’s burgeoning Thacker Go discovery positioned within the McDermitt Caldera of Nevada,” GMV Minerals President Ian Klassen stated within the launch.

The corporate’s share value reached C$0.195 throughout buying and selling on Wednesday after beginning the week at C$0.13.

3. Cantex Mine Growth (TSXV:CD)

Weekly achieve: 35 %; market cap: C$24.4 million; present share value: C$0.27

Cantex owns a number of initiatives in Yukon, Canada. Its North Rackla venture was discovered to include “very excessive germanium values;” Canada has recognized germanium as a crucial metallic, however there aren’t many sources of it, in keeping with the corporate.

Final Wednesday, Cantex shared that it was extending its beforehand introduced non-public placement till mid-September. Its share value climbed all through the primary half of the week, peaking at C$0.295 on Tuesday (August 15).

4. Goldstorm Metals (TSXV:GSTM)

Weekly achieve: 30.56 %; market cap: C$12.19 million; present share value: C$0.235

Treasured and base metals exploration firm Goldstorm Metals is targeted on its flagship Crown and Electrum gold-silver initiatives in British Columbia’s Golden Triangle. In early August, Goldstorm started a 3,000 meter diamond drill program at Electrum concentrating on spots the place earlier exploration uncovered excessive grades.

Though the corporate didn’t launch information final week, its share value spiked to C$0.26 on Friday (August 18).

5. Pure Power Minerals (TSXV:PE)

Weekly achieve: 26.14 %; market cap: C$32.03 million; present share value: C$1.11

Pure Power Minerals is a lithium firm targeted on its Clayton Valley lithium carry venture in Nevada. The corporate has acquired all vital permits to start development and operation of a direct lithium extraction pilot plant on the venture.

Pure Power hasn’t launched information in Q3, however its share value spent final week climbing to peak at C$1.11 final Friday.

Knowledge for five Prime Weekly TSXV Performers articles is retrieved every Friday after market shut utilizing TradingView’s inventory screener. Solely corporations with market capitalizations higher than C$10 million previous to the week’s positive factors are included. Firms inside the non-energy minerals and vitality minerals are thought of.

Do not forget to observe us @INN_Resource for real-time updates!

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.

Editorial Disclosure: GMV Minerals is a shopper of the Investing Information Community. This text just isn’t paid-for content material.


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