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Copper Mountain Mining gained the most on the TSX last week, rising 20.2 percent to close at $1.19. It was followed by Ur-Energy, Thompson Creek Metals Company, EMED Mining Public and Lundin Mining.
The release of US employment data last week meant it was a tough one for a number of commodities. However, some mining stocks listed on the TSX were nevertheless able to do well during the period.
Coming in first in terms of gains was Copper Mountain Mining (TSX:CUM), which rose just over 20 percent last week. It was followed by Ur-Energy (TSX:URE,NYSEMKT:URG), Thompson Creek Metals Company (TSX:TCM,NYSE:TC), EMED Mining Public (TSX:EMD,LSE:EMED) and Lundin Mining (TSX:LUN).
Here’s a brief look at what moved those companies last week.
Copper Mountain Mining
As mentioned, Copper Mountain Mining was the top gainer last week on the TSX, rising 20.2 percent to close at $1.19. The company’s main focus is its 75-percent-owned Copper Mountain mine in British Columbia. Mitsubishi Materials (TSE:5711) holds the other 25-percent stake in the mine, and also has agreed to buy 100 percent of the concentrate it produces under an offtake agreement.
Copper Mountain started 2015 off by announcing the production of 81 million pounds of copper, 22,600 ounces of gold and 443,700 ounces of silver in 2014.
Ur-Energy
Ur-Energy is a junior uranium company that operates the Wyoming-based Lost Creek in-situ recovery uranium facility. The company, which increased 19.79 percent last week to reach $1.15, also identifies, acquires, explores, develops and operates uranium projects.
One such project is Shirley Basin, for which Ur-Energy recently completed a preliminary economic assessment. Historically the site produced over 28 million pounds of uranium.
Thompson Creek Metals Company
Last week, Thompson Creek Metals Company reached $1.87 on the TSX, an 18.35-percent increase. Thompson Creek’s main property is its 100-percent-owned Mount Milligan copper-gold mine, located in British Columbia, but it also owns molybdenum assets as well.
Recently the company revealed that it will hold a conference call regarding its 2014 financial results on February 19, 2015.
EMED Mining Public
Founded in 2005, EMED Mining Public’s main goal is to restart the Rio Tinto mine near Seville, Spain. The open-pit mine’s reserves sit at 606,000 tonnes of copper.
Encouragingly, EMED recently received its final permit for the project. “The approval of the mining permit is a major historic milestone for Proyecto Rio Tinto and paves the way for commissioning to commence in the third quarter of this year,” said Alberto Lavandeira, CEO of EMED Mining. “On behalf of the board of directors I want to congratulate the team at Proyecto Rio Tinto who have undertaken a significant amount of work to achieve this key milestone. I would also like to thank the key shareholders for their constant and loyal support.”
The company is currently finalizing Phase 1 development arrangements for the Rio Tinto project, as well as analyzing expansion options. EMED Mining closed last week with an increase of 16.67 percent, reaching $0.11 on the TSX.
Lundin Mining
Lundin Mining saw an increase of 14.38 percent last week, reaching $5.17 on the TSX. Lundin Mining is a diversified base metals company with major operations and projects in Chile, Portugal, Spain and the US at which it puts out copper, zinc, lead and nickel. The company is seeing a strong start to 2015 after exceeding high-end annual production guidance for zinc and nickel, as well as reaching overall targets for copper and lead in 2014.
Data for TSX Top 5 articles is retrieved each Friday and reported on Monday. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included.
