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Board Appointment Boosts Battery Mineral Sources

The primary week of August was constructive for the S&P/TSX Enterprise Composite Index (INDEXTSI:JX), which was capable of finish the interval within the inexperienced.

After slipping to a year-to-date low of 584 factors in mid-August, Canada’s junior index has added 13 p.c within the weeks since then, and closed final Friday (August 5) at 663.52.

Treasured metals explorers have been a number of the essential gainers because the gold value approached the US$1,800 per ounce stage and silver started to rebound from its two yr low.

Because the TSXV clawed again its summer season losses, the primary indexes in North America have been within the pink as shares reacted to better-than-expected July jobs numbers out of the US.

Nearly half one million jobs have been added throughout the seventh month of the yr, prompting many to invest that the US Federal Reserve will increase rates of interest by one other 75 foundation factors at its September assembly.

The 5 TSXV-listed mining shares that noticed the most important rises final week are as follows:

Right here’s a take a look at these corporations and the components that moved their share costs final week.

1. Battery Mineral Sources

Junior exploration firm Battery Mineral Sources is engaged within the exploration and acquisition of battery metals property in favorable mining jurisdictions. Presently the corporate is creating the Punitaqui mining advanced, a previous copper-gold producer, within the Coquimbo area of Chile.

In response to the corporate, Punitaqui is slated for near-term resumption of operations in late 2022.

Final Tuesday (August 2), Battery Mineral Sources introduced the appointment of Derek White to its board of administrators. White is the president and CEO of Ascot Sources (TSX:AOT,OTCQX:AOTVF).

“Derek was instrumental in sourcing and evaluating the Punitaqui mine, our flagship asset and has intensive expertise in each copper mining and in working within the nation of Chile,” Lazaros Nikeas, Battery Mineral Sources’ chairman, wrote in his welcoming assertion.

The addition helped transfer firm shares 56.54 p.c increased, ending the week at C$0.29.

2. Contact Gold

Contact Gold is an explorer targeted on making district-scale gold discoveries in Nevada. The agency’s intensive land holdings are on the prolific Carlin and Cortez gold traits, which host quite a few gold deposits and mines.

The corporate didn’t launch any information final week. The final replace Contact offered was the announcement of a non-brokered personal placement for C$1 million in late June.

Shares of Contact gained 50.38 p.c over the 5 day session, closing at C$0.04.

3. K2 Gold

K2 Gold is a member of the Discovery Group and at the moment has tasks in Canada’s Yukon and the Southwest US.

The corporate’s Si2 challenge is situated inside the Walker Lane mineral development in Esmerelda County, Nevada. In response to K2, the property encompasses a big alteration zone hosted by an arcuate rhyolite dome area.

K2 didn’t launch any firm updates final week, however its share value added 42.06 p.c to finish at C$0.22.

4, Petroteq Power

Described as a clear know-how firm, Petroteq Power is concentrated on the event, implementation and licensing of a ‎patented, environmentally protected and sustainable know-how for the extraction and reclamation of heavy oil and ‎bitumen from oil sands and mineable oil deposits.

Final Tuesday, Petroteq entered right into a binding letter of intent with Netoil; beneath the deal, Netoil might be granted two licenses for Petroteq’s clear oil restoration know-how to be used in Iraq and ‎Libya.

“The consideration for every license has been agreed to US$6 million and a 5 ‎p.c royalty payment of the web manufacturing income. As well as, a minimal annual payment has been agreed to US$1 million till the area is producing,” a assertion from the corporate reads.

Petroteq shares have been up 42.94 p.c following the information to finish the 5 day interval at C$0.25.

5. Focus Graphite

Focus Graphite is an exploration and growth firm working to provide flake graphite focus at its wholly owned Lac Knife and Lac Tétépisca flake graphite tasks in Québec.

On the finish of July, Focus Graphite commenced the second section of a 2022 core drilling program on its Lac Tétépisca challenge. The drill program was initiated following the receipt of two land use permits from Quebec’s Ministry of Forests, Wildlife and Parks. Shares of Focus elevated by 35 p.c final week to commerce for C$0.27.

Knowledge for five High Weekly TSXV Performers articles is retrieved every Friday at 10:30 a.m. EST utilizing TradingView’s inventory screener. Solely corporations with market capitalizations higher than C$10 million previous to the week’s good points are included. Firms inside the non-energy minerals and power minerals are thought of.

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

Securities Disclosure: I, Georgia Williams, maintain no direct funding curiosity in any firm talked about on this article.

Editorial Disclosure: Battery Mineral Sources is a shopper of the Investing Information Community. This text shouldn’t be paid-for content material.


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