5 Top TSX Stocks: Timmins Gold Gains 33.33 Percent

Last week, the S&P/TSX Composite index (INDEXTSI:OSPTX) rose 39.9 points, or 0.3 percent, to close at 13,378.57 points. According to Reuters, it was boosted by comments from the US Federal Reserve that “soothed broader concerns about global growth and data that showed the U.S. economy … expanded more than forecast.” 
The top gainer on the TSX last week was Timmins Gold (TSX:TMM,NYSEMKT:TGD), and it was followed by International Tower Hill Mines (TSX:ITH,NYSEMKT:THM), Newmarket Gold (TSX:NMI,OTCQX:NMKTF), Orocobre (TSX:ORL,ASX:ORE) and Ivanhoe Mines (TSX:IVN). Here’s a look at what moved the share prices of those companies during the period.

Timmins Gold

As mentioned, Timmins Gold was the top gainer on the TSX last week, rising 33.33 percent to reach $0.36. The company is a Mexico-focused intermediate gold producer that operates the San Francisco gold mine and holds the development-stage Caballo Blanco and Ana Paula gold projects, among others.
On September 18, Timmins announced that it’s entered into an agreement with a Goldcorp (TSX:G,NYSE:GG) subsidiary under which it will acquire the complete process plant and select auxiliary equipment used to operate Goldcorp’s El Sauzal mine. According to Timmins CEO Bruce Bragagnolo, the purchase will save the company “in the range of US40-60 million in initial capital expenditure when Timmins Gold constructs Ana Paula.”

International Tower Hill Mines

Last week, International Tower Hill rose 23.29 percent to close at $0.45. Currently, the company’s interest is honed on its Livengood gold project in Alaska. A 2013 resource estimate for the project shows that it holds a measured and indicated resource of 15.7 million ounces (807 million tonnes at 0.61 g/t gold) and an inferred resource of 4.4 million ounces (266 million tonnes at 0.52 g/t gold); both are at a cut off of 0.3 g/t gold.
International Tower Hill has released little news in 2015, and did not release any news last week that would explain its rise in share price.

Newmarket Gold

Newmarket Gold merged with Crocodile Gold this past summer, and now holds three operating gold mines across Australia that produce over 200,000 ounces annually.
The company rose 11.94 percent last week to reach $1.50, releasing two pieces of news during that stretch of time. First, on September 21 it announced drill results from its Cosmo and Stawell mines, noting that they “include continued intercepts of significant gold mineralization from the Sliver Lode and Cosmo Deeps Drilling at Cosmo and at the Aurora B discovery at Stawell.” The next day, Newmarket began trading on the OTCQX under the symbol NMKTF.

Orocobre

Orocobre began producing lithium carbonate at its Salar de Olaroz lithium facility in Argentina last year, and is currently working on ramping up production there. Unfortunately, it’s seen some delays in 2015; however, it’s been able to identify bottlenecks and has dealt with most of them.
Last week, the company rose 8.9 percent to reach $1.59. It released a slew of news, including a production update on the Salar de Olaroz lithium facility, its annual report and its corporate governance statement.

Ivanhoe Mines – 8.7 percent, $0.75

Finally, Robert Friedland’s Ivanhoe Mines rose 8.7 percent to hit $0.75. The rise came as the Democratic Republic of the Congo (DRC) dropped its previous objections to Ivanhoe’s sale of a stake in its Kamoa copper project to China’s Zijin Mining (HKEX:2899). As The Globe and Mail notes, Ivanhoe will sell a further 15-percent stake in the project to the DRC government, which currently owns 5 percent.
 
Data for TSX Top 5 articles is retrieved each Friday after market close. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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