The Rio2 Limited TSXV (TSXV: RIO) led the charge this week as the top weekly TSXV stock when the company’s Fenix project gained approval for an environmental impact assessment from the Chilean Government. Rio is an exploration company with business interests in the Chañaral and Copiapó regions of Chile, with a focus on gold, silver, copper and base metal deposits.
The approval of the study allows Rio to move forward with the development of the Fenix project. The project consists of a copper and silver mine that is expected to have a lifespan of at least 15 years. This would allow Rio to capitalize on the copper prices, which are currently at five year highs.
The TSXV has been buzzing with new projects as the copper mining industry heats up again. Teck Resources Limited (TSX: TECK.A) and Fission Uranium Corp. (TSXV: FCU) have both seen strong gains in their stock prices over the past month as investors look for long term investments in the copper market.
The second best TSXV stock of the week was Paramount Resources Ltd. (TSX: POU). Paramount’s share price rose over 6% after the company secured an additional $32 million in funding to develop its Yukon shale gas assets. The new investment will be put towards the expansion of Paramount’s existing shale infrastructure and development of new wells.
The third best TSXV stock of the week was Tripium Minerals Corp. (TSXV: TRM). Tripium’s stock hiked around 11% for the week, as the company announced new details about its planned exploration drilling in the Red Cloud area of Ontario. Tripium stated that the drilling program would focus on high grade gold and copper potential.
The fourth best weekly TSXV stock was Eloro Resources Ltd. (TSXV: ELO). Eloro’s share price jumped up by around 9%. Eloro is a gold and base metals exploration and development company based in Quebec. The company’s excitement comes from the establishment of a massive geo-thermal potential at its La Solana tungsten project in Mexico.
Finally, at the fifth spot of this week’s TSXV stocks is Copper Mountain Mining Corporation (TSX: CUM). The company’s shares saw a moderate jump after it acquired the Eva Copper project from Newcrest Mining (ASX: NCM). The project is located in the Northern Territory of Australia and is estimated to have a reserve of over 12 million tonnes of copper.
As can be seen, each of this week’s top five TSXV stocks comes with its own exciting development. Investors should always exercise their own due diligence before committing to any form of investment.
“5 Stock Winners: Rio2 Soars as Fenix Project Wins EIA Approval
