Mining stocks have taken over as the top trending stocks on the TSXV. Most are leading with the top volume being traded. Some are trading red, but it seems investors are focused today on mining stocks instead of cannabis.
Today, we’ll look into some mining stocks to watch this week and their latest company announcements. If you’ve been considering a few penny stocks to sink your teeth into, Canadian mining penny stocks have been trending this past week and continue to climb.
IDM Mining Ltd. (TSXV:IDM)
IDM Mining is the top trading stock on the TSXV today by total volume. While it currently isn’t seeing any gains or losses, it’s most recent news is what likely caused the spike in trades earlier in the day. Two days ago, the Vancouver-based mining company announced that the Canadian Environmental Assessment Agency (CEAA) issued a positive decision statement for IDM’s wholly-owned Red Mountain gold project.
This project is a gold and silver mine that is located 15 kilometers northeast of Stewart, British Columbia. While this was a positive decision, there are more than 120 conditions that apply to this project to reduce or eliminate possible harmful effects to protect the wildlife around the property.
At the time of writing, the mining stock is trading at $0.06 a share, seeing no share gains or losses. Currently, there has been over $3.2 million CAD traded of IDM today on the TSXV. While it hasn’t seen any positive share movement, the fact that the stock has that amount of volume traded today is a good sign.
Great Bear Resources Ltd. (TSXV:GBR)
Great Bear Resources is among the list of top mining stocks to see the most share gains on the TSXV in the last 48 hours. While its volume isn’t even close in comparison to IDM’s, the stock has seen momentous share gains recently.
Three days ago, Great Bear released a 3D model of its gold system at its Dixie property. Since this announcement, the mining stock is up over 50% in its share price. According to Yahoo Finance, GBR is currently trading at $2.79 a share, up +$0.35 (+14.34%).
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