The TSX Venture Exchange (TSXV) is a leading stock exchange in Canada, with a variety of exciting and interesting stocks. Each week, the exchange sees a variety of different changes in stock values as the markets are influenced by news, economic indicators, and investor sentiment. This week, five stocks on the TSXV have seen notable changes – with Rio2 leading the charge after its Fenix Project was approved for an Environmental Impact Assessment.
Rio2 Limited (TSXV: RIO.V) has seen the most activity, with its stock prices surging 28.18% this week. The company is involved in the development and mineral exploration of several projects in Chile and Peru. Its Fenix Project in Pisco, Peru, received Environmental Impact Assessment (EIA) approval this week. The project is expected to extend the mine life at Rio2’s Esperanza copper-gold project.
With copper prices continuing to hover around record highs, Rio2 stands to benefit significantly from the EIA approval. As the Fenix project comes into full production, Rio2’s profits could skyrocket and make it one of the most profitable stocks on the TSXV.
Another TSXV stock making significant advances this week is Go Cobalt Mining Corporation (TSXV: GOCO), whose stocks rose 27%. Go Cobalt has made a series of acquisitions and investments throughout 2021, most recently in the Voisey’s Bay Cobalt-Nickel-Copper Mine in Newfoundland & Labrador. With copper prices so high, Go Cobalt looks to capitalize on its investments, and has seen significant stock appreciation this week.
Exploration OmegaCorp Ltd. (TSXV: OFG) has seen its shares rise 17.64% this week, after announcing the launch of its new technology, Scholars Advisory App. With this app, OmegaCorp will help small businesses break into the venture capital world and gain access to various resources. OmegaCorp expects the app to lead to increased demand for its services, and the markets have responded in kind.
Two other stocks on the TSXV have also seen notable gains in the past week. Nano One Materials Grops Inc. (TSXV: NNO) shares have risen 16.36%, while Kodiak Copper Corp. (TSXV: KDK) stocks have advanced 10%. Nano One is mapping out its entry into the electric vehicle batteries market, while Kodiak Copper is involved in the exploration and development of several copper-gold projects across the Americas.
All five of these TSXV stocks have significant potential in the markets. However, the EIA approval for Rio2’s Fenix Project and its expected impact on Rio2’s profits make it the standout performer this week and a valuable stock to consider.