5 Top TSX Stocks: Golden Queen Mining Jumps 32.53 Percent

Last week, the S&P/TSX Composite index (INDEXTSI:OSPTX) closed down 140.26 points, at 13,646.9 points. According to Reuters, North American stocks took a hit on the back of the US Federal Reserve’s decision not to raise interest rates. 
The top gainer on the TSX was Golden Queen Mining (TSX:GQM), and it was followed by Entree Gold (TSX:ETG,NYSEMKT:EGI), IAMGOLD (TSX:IMG,NYSE:IAG), Torex Gold (TSX:TXG) and Kinross Gold (TSX:K,NYSE:KGC). Here’s a look at what moved their share prices last week.

Golden Queen Mining

As mentioned, Golden Queen Mining was the top gainer on the TSX last week, enjoying a 32.53-percent share price rise to close at $1.10. The company did not release any news that would explain that share price increase.
Most recently, Golden Queen announced changes to senior management and released its results for the second quarter of 2015. It said that it continues to make progress at its 50-percent-owned Soledad Mountain gold–silver project in California, noting that construction is moving forward on budget, with commissioning of processing facilities set for completion in Q4 2015.

Entree Gold

Taking second place last week was Entree Gold, whose share price rose 32.35 percent to reach $0.45.
The company did not release any news last week, but the week prior updated the preliminary economic assessment (PEA) for its Nevada-based Ann Mason copper–moly porphyry deposit. Overall, Ann Mason is expected to produce 5.1 billion pounds of copper, 46 million pounds of moly, 400,000 ounces of gold and 8.8 million ounces of silver over a 21-year mine life. It has an after-tax NPV of US$770 million at a 7.5-percent discount, a 13.7-percent IRR and a payback period of 6.9 years.
Entree holds other projects in addition to Ann Mason, and is a joint venture partner with a carried interest in a portion of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Mongolia-based Oyu Tolgoi project.

IAMGOLD

Like Golden Queen and Entree, IAMGOLD did not release any news last week. However, TomaGold (TSXV:LOT) announced that IAMGOLD plans to start a new drill program at the Quebec-based Monster Lake project before the end of September. IAMGOLD’s share price rose 23.2 percent last week to reach $2.39.
IAMGOLD is working towards earning a 50-percent interest in TomaGold’s Monster Lake, Winchester and Lac-à-L’Eau-Jaune properties, and will do so by spending $16 million on exploration and making cash payments of $1.575 million over 5.5 years. IAMGOLD also holds four operating gold mines on three continents.

Torex Gold

Last week, Torex Gold’s share price rose 21.05 percent to hit $1.38. The company said Monday that the resettlement of all 102 families in the village of La Fundicion has been completed. La Fundicion is located at Torex’s Mexico-based Morelos gold property, which contains the El Limon-Guajes project. El Limon-Guajes is currently under construction, while Media Luna, the other project contained within Morelos, is at an advanced stage of exploration.

Kinross Gold

Finally, Kinross Gold’s share price rose 20.4 percent last week to hit $2.42. The rise came as the company updated its full-year guidance for 2015. Positive adjustments include lowered guidance for all-in sustaining costs per gold equivalent ounce sold — it now sits at $975 to $1,025 from $1,000 to $1,100.
“We are on track for another strong year as a result of our continued focus on cost reduction and drive to enhance production,” said J. Paul Rollinson, CEO of Kinross.