Last week’s top-gaining mining stocks on the TSXV were Fuse Cobalt, American Manganese, Pure Energy Minerals, Cornish Metals and Ucore Rare Metals.
It was a week of upward momentum for the S&P/TSX Venture Composite Index (INDEXTSI:JX), which started the period at 917.91 and ended at 947.08.
Gold was also on the rise during the five day period as stimulus talk from new US President Joe Biden stoked inflation anticipation. The metal is still lower than where it was at the start of January.
Base metals enjoyed a strong week too, with copper passing US$8,000 per tonne again.
Cornish Metals (TSXV:CUSN)
Crown Point Energy (TSXV:CWV)
Centaurus Energy (TSXV:CTA)
Cypress Development (TSXV:CYP)
Petrofrontier (TSXV:PFC)
Nouveau Monde Graphite (TSXV:NOU)
Here’s a look at what may have moved their share prices over the last five days.
1. Crown Point Energy
Oil and gas junior Crown Point Energy boasts cash flow from production and a portfolio that includes assets in two of Argentina’s largest producing basins.
Last Thursday (January 7), Crown Point and Centaurus Energy together proposed a business combination through a non-binding term sheet. According to the companies, the resulting new entity would be an Argentina-focused oil and gas exploration company with diverse operations and strong financials.
“The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time” US Federal Reserve
I had the chance to speak with the always-popular EB Tucker, author of “Why Gold? Why Now?,” this week for an end-of-the-year checkin. The last time we spoke was around the end of September, and at the time he was calling for US$2,500 gold and US$40 per ounce silver by the end of the year.