5 Top Weekly TSX Stocks: Wallbridge Mining Up on Lonmin Deal

- November 3rd, 2019

Last week’s top-gaining stocks on the TSX were Calibre Mining, Wallbridge Mining, Alacer Gold, Ascot Resources and Orocobre.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed up on Friday (November 1), increasing 110.91 points to 16594.07.

The index hit a one month high on the back of energy shares, as positive US job data and upbeat Chinese manufacturing numbers eased concerns about an economic slowdown.

On the commodities front, base metals had a mixed week while gold and silver declined as investors’ risk appetite increased.

Is the nickel market a safe place to invest?

 
Read our FREE outlook report on nickel investing
 

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

  • Calibre Mining (TSX:CXB
  • Wallbridge Mining (TSX:WM
  • Alacer Gold (TSX:ASR
  • Ascot Resources (TSX:AOT
  • Orocobre (TSX:ORL

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

Calibre Mining

Calibre Mining is on gold in Nicaragua, where it holds interests in the Mining Triangle — described by Calibre as prolific gold-silver-copper mining district. Calibre has joint venture agreements with a number of other gold-focused companies, including IAMGOLD (NYSE:IAG,TSX:IMG) within what it calls the Borosi concessions.

On October 31, the company released drilling results from El Limon. Shares of Calibre Mining were up 32.81 percent, trading at C$0.85 by the end of the five-day period.

Wallbridge Mining

Wallbridge is currently developing its 100 percent owned high-grade Fenelon gold property in Quebec with ongoing 70,000 to 80,000 meters exploration drill program in 2019 and a recently completed 35,000 tonne bulk sample.

Last week, the company announced it is partnering with Lonmin to work on the nickel-copper-PGM Denison property. Over the five-day period, shares of Wallbridge Mining were up 32 percent, trading at C$0.66 on Friday.

Alacer Gold

Alacer Gold has an 80 percent stake in the Çöpler gold mine in Turkey. Çöpler has a mine life of 20 years, and the company’s goal is ultimately to produce from multiple mines in the country.

Is the nickel market a safe place to invest?

 
Read our FREE outlook report on nickel investing
 

On October 29, the company published its third quarter operational and financial results. Alacer’s share price increased 19.2 percent during the week, trading at C$6.52 by the end of the five-day period.

Ascot Resources

Ascot Resources is focused on restarting the past producing historic Premier gold mine, once North America’s largest gold mine, located in British Columbia’s Golden Triangle. 

On October 31, the company published an updated mineral resource estimate for its Red Mountain gold project. Shares of Ascot Resources were up 18.75 percent, trading at C$0.57 on Friday. 

Orocobre

Orocobre is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre’s operations include its Olaroz lithium facility in Northern Argentina; Borax Argentina, an established Argentine boron minerals and refined chemicals producer; and 34.7 percent interest in Advantage Lithium.

Over the five-day period, shares of Orocobre increased 17.33 percent, trading at C$2.37 by the end of the week. 

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View’s stock screener. Only companies with a market capitalization greater than C$50 million prior to the week’s gains are included. Companies within basic materials and energy sectors 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.

Is the nickel market a safe place to invest?

 
Read our FREE outlook report on nickel investing
 

Get the latest Nickel Investing stock information

Get the latest information about companies associated with Nickel Investing Delivered directly to your inbox.

Nickel Investing

Select All
Select None

Leave a Reply

Your email address will not be published. Required fields are marked *