Rio2 Limited (TSXV: RIO) was the star stock amongst the top 5 Toronto Stock Exchange Venture Exchange (TSXV) stocks last week after Fenix Gold Project in Chile received Environmental Impact Assessment (EIA) approval.
The Vancouver-based gold exploration and development company, which focuses mainly on Chilean projects, released news of the approval on 15th of July as the EIA establishes that the proposed project adheres to environmental regulations. Investors responded positively to the news and the stock rose by nearly 66% to close last week at C$0.27 -the company’s highest close in over 9 months.
The rest of the bunch weren’t far behind as Venturex Resources Limited (TSXV: VXR), a mineral exploration company which focuses on base and precious metals, rose by nearly 39% to close the week at C$0.225. This can be attributed mainly to the news that the company focuses on extending exploration activities to the high-grade Boodalyerrie nickel-copper project located in the West Pilbara region of Western Australia.
GoldMining Inc. (TSXV: GOLD) isn’t far either, gaining 37.50% in the week to close yesterday at C 75 cents. The Canadian-based company operates gold exploration projects on a few continents, mainly focusing on the Americas and increased investor attention was likely inspired by the news that the company has advanced exploration activities related to its Cachoeira, São Jorge and Paracatu projects in Brazil.
Pelangio Exploration Inc. (TSXV: PX), another mineral exploration company which focuses on developing and identifying gold projects in the world-renowned gold bearing dome of the Abitibi greenstone belt in Western Canada made a solid performance in the week, gaining 33.33% to close the week at C$0.145.
Finally, Novo Resources Corp (TSXV: NVO) rose by approximately 32% to close the week at C$3.30. The Canadian Gold Exploration Company which owns interests in gold projects in Western Australia grabbed investors’ attention after the company announced exploration results from its recently acquired Beatons creek project.
The TSXV was a lively exchange as all 5 top stocks moved up, reaching their highest closing figures in months and making a collective percentage change of +206.24%. Apart from news regarding their individual projects, news of the TSXV setting up a one-stop-shop for companies getting listed on the Venture board may have played its part too.