Mining stocks are making a comeback in 2019. In late-2017 and all of 2018, cannabis stocks flooded the top trading stocks on the TSXV. Within the last month, mining stocks have made considerable gains on the TSX Venture Exchange and today are accounting for most of the top traded stocks by daily volume.
Most of these stocks are seeing significant gains in their share prices but why now? The mining industry has been strong in Canada for decades, and it seems investors continue to see that. Blockchain stocks and cannabis stocks have had recent share spike ‘bubbles,’ but the mining industry has always been steady in the background.
Today, we’ll take a look at a pair of mining stocks that are leading the day.
Revelo Resources Corp (TSXV:RVL)
Revelo Resources is a Vancouver-based mineral exploration company. The company does most of its mining in Chile and explores for copper, gold, and silver. Revelo currently has a portfolio of 26 different projects that cover 204,000 hectares of space.
This morning, Revelo is leading all the stocks on the TSXV in trade volume. However, it is not leading the mining stocks in numbers of trade. Currently, RVL shares have reached just under $5 million in volume today.
The mining company released a statement this morning regarding the influx of money that was added to the company’s shares. The statement reads:
“At the request of IIROC, Revelo Resources Corp. (TSXV: RVL) (‘Revelo’ or the ‘Company’) wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.”
At press time, RVL is trading at $0.0150 a share, up +$0.0050 (+50.00%).
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RosCan Minerals Corporation (TSXV:ROS)
RosCan Minerals is another mining stock that has had a trading volume of almost $5 million today on the TSXV. Two months ago, the Toronto-based mining company announced it would start drilling at its Kandiole Gold project in Mali, West Africa.
This morning the mining stock announced its gold discovery at the Kandiole property. This announcement is the reason for its rise in share prices today.
Greg Isenor, President and CEO of RosCan Minerals, said:
“This is an excellent new discovery with very good gold grades. The mineralized zone is open to depth and appears, from a limited amount of drilling, to extend to the next drill line located approximately 250 metres to the north, and hopefully beyond, along this large geochemical anomaly. We are extremely pleased that our approach to exploration in this area has again been successful. Additional drilling is part of an obvious next step.”
According to Yahoo Finance, the mining stock is trading at $0.155 a share, up +$0.07 (+82.35%).
Featured Image: Depositphotos © strelok
