5 Top Weekly TSX Stocks: Nickel Price, Funding Drive Horizonte

- September 1st, 2019

The top gainers on the TSX last week were Horizonte Minerals, Platinum Group Metals, GoGold, Belo Sun Mining and Leagold Mining.

On Friday (August 30) last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) rose by 16.29 points to reach 16,400.78 — a gain of 0.1 percent.

In the news last week, everyone was looking at the UK and asking political questions, while the US and China were on again, off again about a potential deal on the trade war and Brazil’s reputation went down the drain internationally on the environmental front.

In commodities, gold stayed steady last week, while base metals saw nickel jump thanks to supply fears.

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Speaking of commodities, here are the top five gainers on the TSX last week in resources and energy:

  • Horizonte Minerals (TSX:HZM)
  • Platinum Group Metals (TSX:PTM)
  • GoGold Resources (TSX:GGD)
  • Belo Sun Mining (TSX:BSX)
  • Leagold Mining (TSX:LMC)

Read on to find out what these companies have been up to recently.

Horizonte Minerals

Horizonte Minerals has made this list a few times this year, as its two projects in Brazil move forward. Horizonte owns the Araguaia ferronickel project and the Vermelho nickelcobalt project. Araguaia has been in the news this year as the company has been moving toward construction footing for the project.

On Thursday (August 29), the company announced a US$25 million royalty funding agreement with Orion Mine Finance for the development of Araguaia.

On the TSX, Horizonte was trading at C$0.08 by the end of last week — an increase of 77.78 percent over the previous five days of trading.

Platinum Group Metals

Platinum Group Metals is focused, unsurprisingly, on the production of platinum and palladium. Its projects are located in the prolific South African Bushveld complex — where the majority of the world’s platinum production takes place.

On August 21, the company had big news on the financing front, closing a US$10.4 million bought deal financing, as well as private placement financings of US$9.2 million and US$10 million. It also established a US$20 million two to three year credit facility and repaid an existing US$43 million credit facility.

On the TSX, Platinum Group Metals was trading up by 52.83 percent by the end of last week at C$2.43.

GoGold Resources

Gold and silver producer GoGold Resources has properties and interests in Mexico, including the Parral tailings project, which has 21.3 million tonnes of tailings left over from 230 years of mining.

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Recent news from GoGold came on Wednesday (August 28), when it drilled 27.5 meters averaging 2.99 grams per tonne gold at its Las Ricos exploration project in Jalisco, Mexico.

In Toronto, GoGold was trading at C$0.71 by the end of last week — a gain of 29.09 percent over the previous week.

Belo Sun Mining

Belo Sun Mining is developing the Volta Grande gold project in Brazil, which it says has the potential to be an open-pit mine with a long life.

Company news was recently updated in mid-July, when the Federal Court of Appeal ruled that the State Environmental Agency for the Government of Para (SEMAS) remains the competent authority for assessing environmental permitting. SEMAS had awarded Belo Sun its permitting.

On the TSX, Belo Sun was trading at C$0.49, up by 25.97 percent.

Leagold Mining

Leagold Mining is a mid-tier gold producer with assets in Mexico, where it owns an operating mine and a development project. It also has three operating mines and a development project in Brazil.

On August 1, the company released its H1 results, detailing gold production of 197,234 ounces in the first half of the year, and sales of 201,724 ounces.

The company was trading at C$2.99 by last Friday, with a weekly gain of 18.65 percent.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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