tsxvstocks
The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined 23.41 points last week to close at 588.25. Gold was under pressure following reports on Friday (June 7) that the People’s Bank of China paused purchases of gold in May, ending an 18 month spree. Central bank buying has provided critical support for gold in 2023 and 2024. In the first quarter of the year, China added 189 metric tons (MT) of the yellow metal to its reserves, but as gold sector expert Jan Nieuwenhuijs notes in a May 22 article, much of the Asian nation's buying has gone unreported. Gold saw additional losses on Friday as ...
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Eskay Mining (TSXV:ESK,OTCQX:ESKYF) announced plans to combine with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) on Tuesday (June 4) in a move it says will create a new entity focused on gold and copper exploration. The non-binding letter of intent entered by the two companies outlines a deal through which Eskay will acquire all outstanding P2 Gold shares at an exchange ratio of 0.2778 Eskay shares for each P2 share. Eskay shareholders will hold 80 percent of the merged company, while P2 shareholders will own 20 percent. Once the transaction is complete, the company will have assets in BC's Golden Triangle...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 3.71 points last week to close at 611.66. Statistics Canada released Q1 gross domestic product (GDP) numbers this past Friday (May 31). In the report, the agency said real GDP rose 0.4 percent quarter-over-quarter, up from 0.2 percent in the fourth quarter of 2023. A contributing factor was higher household spending on services, but growth was moderated by slower inventory accumulations. GDP for the mining, quarrying and oil and gas sector decreased by 0.5 percent in March, with a 3.9 percent decline in mining and quarrying, the biggest ...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95. Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March. Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37. South of the border, t...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17. Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange. The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings see...
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In a bid to enhance the North American critical minerals supply chain, the Canadian and US governments announced a co-investment in two Canadian companies under the Canada-US Energy Transformation Task Force. “Canada is positioning itself as a global leader in the supply of responsibly sourced critical minerals for the green and digital economy,” said Jonathan Wilkinson, Canada's minister of energy and natural resources. “Through our work with the United States and other allies, we are developing secure critical minerals value chains that will power a prosperous and sustainable future," he add...
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Following the discovery of assay result inconsistencies at its Wawa gold project, Red Pine Exploration (TSXV:RPX,OTCQB:RDEXF) disclosed on May 10 that 532 out of approximately 98,000 assay results in its database appear to have been manipulated since it took ownership of the asset in 2014. An internal investigation has revealed that the assay result inconsistencies were caused by the actions of the company's former CEO, Quentin Yarie. The discrepancies were first reported by Red Pine on May 1. Yarie is alleged to have manipulated certain assay results received from Activation Laboratories, sub...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 14.25 points last week to close at 595.95. One of the biggest news items this past week was Panama's presidential election, held on Sunday (May 5). Jose Raul Mulino secured 34 percent of the vote against five other candidates to become the country’s president. Mulino was a last-minute replacement after former President Ricardo Martinelli was barred from running due to a money laundering conviction. Mulino was minister of public security during Martinelli's presidency, which ended in 2014. The incoming president will replace outgoing Pres...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 4.85 points last week to close at 581.7. This past Tuesday (April 30) and Wednesday (May 1) brought the latest meeting of the US Federal Reserve’s Federal Open Market Committee (FOMC). With recent data suggesting inflation has stalled and demand in the labor market has outstripped supply, the FOMC held interest rates at 5.25 to 5.5 percent, a level established in July 2023. In a statement, Fed Chair Jerome Powell said that, while increases were unlikely, the central bank still needed greater confidence that inflation was sustainably on its...
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Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. According to Grandview Research, the global biotech market was worth US$1.55 trillion in 2023, and the firm expects it to grow at a CAGR of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies, and the Investing News Network has identified the top three biotech stocks based on their year-on-year gains. Data was collected on April 16, 2024, using TradingView's stock scr...
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