Other top gainers were Shore Gold, Lundin Gold, Centamin and NioCorp Developments.
Last Friday, the S&P TSX Composite index (INDEXTSI:OSPTX) fell 2.13 percent to end at 12,073.46 points. According to Bloomberg, all 10 sectors represented on the index declined.
Nevertheless, some resource-focused companies listed on the TSX did manage to see gains last week. The top gainer was RTG Mining (TSX:RTG,ASX:RTG), and it was followed by Shore Gold (TSX:SGF), Lundin Gold (TSX:LUG), Centamin (TSX:CEE,LSE:CEY) and NioCorp Developments (TSX:NB). Here’s a look at what moved the share prices of those companies last week.
Dual-listed RTG Mining is developing its high-grade copper-gold-magnetite Mabilo project, as well as advancing exploration at its Bunawan project. Both projects are located in the Philippines.
Last week, the company’s share price rose 20 percent to reach $0.48. On January 15, RTG filed its activities report for Q4 2015, noting that highlights for the period include the release of an updated mineral resource statement for Mabilo.
Though its name suggests otherwise, Shore Gold is currently looking to explore and develop Saskatchewan’s diamond resources. The company’s share price rose 17.14 percent last week to close at $0.21, though it has not put out any news since the end of last year. At that time, it closed a bought-deal private placement for aggregate gross proceeds of $3,337,962.50.
Last week, Lundin Gold’s share price rose 6.14 percent to reach $4.15. The company holds mining concessions in Southeast Ecuador, including the Fruta del Norte gold project, and last Thursday announced that it’s “completed the negotiation of the definitive form of the Exploitation Agreement” for that project.
Ron Hochstein, president and CEO of Lundin Gold, commented, “[w]ith the terms of our key mining agreement settled, we can now proceed with the finalization of the feasibility study and project financing.”
Centamin, another dual-listed company, is a development and mining company whose main asset is the Sukari gold mine in Egypt. The company also holds advanced exploration projects in Burkina Faso and Cote d’Ivoire. Last week, Centamin’s share price rose 3.76 percent to close at $1.38; it last released news on January 7, when it put out its preliminary Q4 production results.
Finally, NioCorp Developments saw its share price rise 3.7 percent last week to finish at $0.56. The company, which is developing the Elk Creek niobium-scandium-titanium project in Nebraska, released a letter to shareholders on January 12. In it, CEO and Executive Chairman Mark Smith states that in 2016, NioCorp plans to put out a feasibility study for Elk Creek.
Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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