5 Top Weekly TSX Performers: Nevada Copper Takes the Lead

Last week’s top-gaining stocks on the TSX were Nevada Copper, Black Iron, Belo Sun Mining, Fission Uranium and Mandalay Resources.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (October 15), trading at 20,863.54 by midday. The index closed the period at 20,927.11.

It was on track for its best weekly performance since March, receiving a boost from energy stocks.

On Friday, gold and silver fell as US bond yields rebounded, although a weaker US dollar limited losses.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

Here’s a look at those companies and the factors that moved their share prices last week.

1. Nevada Copper

Nevada Copper’s flagship Pumpkin Hollow copper project is located in Nevada, US. Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open-pit project, which is advancing towards feasibility status.

Last Tuesday (October 12), the company entered into an agreement with its senior project lender and announced a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. This will provide substantially greater balance sheet flexibility and support for the completion of the ramp up of its underground mining operations and subsequent advancement of its open-pit project and broader property exploration targets.

Last week, shares of Nevada Copper increased 43.21 percent to trade at C$1.16.

2. Black Iron

Toronto-based Black Iron is focused on advancing its 100 percent owned Shymanivske project, located in Krivyi Rih, Ukraine, to production. The project is surrounded by five other operating mines, including Metinvest’s YuGOK and ArcelorMittal’s (NYSE:MT) iron ore complex.

Black Iron did not release any news last week, but its shares increased 38 percent to end at C$0.34.

3. Belo Sun Mining

Canadian gold explorer Belo Sun Mining is currently focused on developing its Volta Grande gold project. Located in Brazil, the project underwent a complete feasibility study in March 2015.

Over the five day period, shares of Belo Sun increased 37.37 percent to end the week at C$0.68.

4. Fission Uranium

Fission Uranium is a resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property in Canada’s Athabasca Basin. The company is now focused on advancing the project to feasibility and on towards construction.

Last week, Fission Uranium saw its share price increase 31.33 percent to hit C$1.09.

5. Mandalay Resources

Mandalay Resources has producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The company is focused on growing production at its gold and antimony Costerfield operation in Australia and gold production from its Björkdal asset in Sweden.

Last Tuesday, the company announced the sale of the Cerro Bayo mine to Equus Mining (ASX:EQE). Shares of Mandalay increased 28.72 percent, and were trading at C$2.51 by the end of the week.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Fission Uranium is a client of the Investing News Network. This article is not paid-for content.

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