5 Top Weekly TSXV Stocks: Solis Minerals Leaps to Lead Spot

The S&P/TSX Venture Composite Index (INDEXTSI:JX) stayed flat last week, ending Friday (June 9) at 610.02.

The Bank of Canada hiked its overnight rate by 25 basis points on Wednesday (June 7), marking the central bank’s first increase since its January pause. All eyes are now shifting to what the US Federal Reserve will do this coming week.

Against that backdrop, a variety of TSXV-listed resource stocks were on the move last week. Read on to find out which companies rose the most during the five day period and what was affecting their share prices.

1. Solis Minerals (TSXV:SLMN)

Company Profile

Weekly gain: 409.09 percent; market cap: C$37.49 million; current share price: C$0.56

Solis Minerals is an exploration company focused on battery metals properties in South America. It has a portfolio that includes the Borborema lithium project in Northeast Brazil and copper projects covering a combined 32,400 hectares in Southwest Peru.

On May 29, the Investment Industry Regulatory Organization of Canada, which oversees trading on Canadian exchanges, suspended trading for Solis pending upcoming news. The company’s market close before that was C$0.11.

Two days later, Solis Minerals entered into a binding option agreement to acquire a 100 percent interest in the Jaguar hard-rock lithium project in Northeast Brazil, which has confirmed spodumene grades of up to 4.95 percent in oxidized pegmatite.

Last Thursday (June 8), Solis received commitments totaling AU$8.16 million for a placement that will be used to, among other things, fund drilling at both its lithium projects and complete the fees for the Jaguar acquisition. Following that announcement, trading resumed and the company’s share price shot up to a weekly high of C$0.65.

2. Macarthur Minerals (TSXV:MMS)

Company Profile

Weekly gain: 53.33 percent; market cap: C$37.77 million; current share price: C$0.23

MacArthur Minerals is focused on developing its Lake Giles iron ore project in Western Australia. MacArthur has recently been studying the project for potential nickel prospectivity, and as of May had identified seven nickel prospects, which it plans to target in upcoming exploration. The company also holds lithium brine claims in Nevada, US.

Although the company did not release news last week, its share price spiked last Monday (June 5) to a weekly high of C$0.28.

3. Altamira Gold (TSXV:ALTA)

Company Profile

Weekly gain: 53.33 percent; market cap: C$36.02 million; current share price: C$0.23

Altamira Gold has six gold projects in Brazil within the Juruena gold belt, including its advanced Cajueiro project. The company is currently exploring its Santa Helena gold-copper project in Northern Brazil, and in May did a ground magnetic survey at the project.

Altamira hasn’t released news since then, but its share price moved up last week to peak at the close of trading on Friday.

4. VR Resources (TSXV:VRR)

Company Profile

Weekly gain: 36.36 percent; market cap: C$30.61 million; current share price: C$0.30

VR Resources has a North American portfolio spanning critical metals, gold, silver, copper and diamonds. The company has been exploring its Hecla-Kilmer critical metals project in Northern Ontario and its New Boston copper-molybdenum project in Nevada.

Last Wednesday, VR closed a private placement financing for C$836,000. Some of the money will be used to drill at its Northway kimberlite project, which is located near Hecla-Kilmer. The company’s share price climbed following the announcement to a peak of C$0.34 early in the day on Thursday.

5. Tier One Silver (TSXV:TSLV)

Company Profile

Weekly gain: 30.43 percent; market cap: C$43.95 million; current share price: C$0.30

Tier One Silver is an explorer focused on the Curibaya and Hurricane projects in Peru. Earlier this year, the company reported that composite chip sampling at Hurricane’s Rayanpata target had shown high-grade values for copper, nickel and cobalt.

Last Monday, Tier One closed an upsized C$2.6 million non-brokered private placement; it plans to use the funds for exploration and drilling at Curibaya. Two days later, the company identified the targets for its drilling at the project; it plans to include 2,000 meters focused on the Cambaya target, which has shown precious metals mineralization.

The company’s share price moved up to a weekly peak of C$0.35 that day.

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.

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.

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