5 Top Weekly TSX Stocks: Katanga Mining Jumps to the Top

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed Friday (December 15) up 22.52 points, at 16,041.98 points. 
According to Reuters, the index was boosted by gains in financial stocks and base metals miners. A big jump in the share price of auto parts manufacturer Linamar (TSX:LNR) also helped lift the index.
Against that backdrop, a number of TSX-listed mining companies enjoyed share price gains last week. Two of the five top gainers are focused on cobalt, with other companies rounding out the list:

• Katanga Mining (TSX:KAT)
• TMAC Resources (TSX:TMR)
• eCobalt Solutions (TSX:ECS)
• Trilogy Metals (TSX:TMQ,NYSEAMERICAN:TMQ)
• Laramide Resources (TSX:LAM,ASX:LAM)

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

1. Katanga Mining

Major miner Glencore (LSE:GLEN) increased its interest in Katanga Mining to about 86.33 percent earlier this year. The company operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo (DRC) through two joint ventures; the joint ventures are called Kamoto Copper Company and DRC Copper and Cobalt Project.
In 2015, the company announced the decision to suspend the processing of copper and cobalt during the construction phase of a whole ore leach project. The suspension continued through the first three quarters of 2017, and production is not expected to resume until the project is commissioned; that process is expected to be finished in 2018. Last week, Katanga said that hot commissioning of the core of the first train of the whole ore leach project has been successfully completed. Its share price jumped 52.63 percent to close the week at $1.78.

2. TMAC Resources

TMAC Resources is focused on exploration, development and mining in the Nunavut-based Hope Bay greenstone belt. Its Hope Bay gold project encompasses the belt, and the company reached commercial production at the Doris mine on the property in May of this year. Last week, the company did not release any news; nevertheless, its share price jumped 32.66 percent to close at $10.

3. eCobalt Solutions

eCobalt Solutions is focused on providing battery-grade cobalt salts that are ethically sourced, environmentally sound and produced safely and responsibly in the US. eCobalt’s primary asset is its Idaho cobalt project located in Lemhi County, Idaho.

Last week, the company’s share price jumped 26.43 percent to close at $1.71. During the period, eCobalt received assay results for the first of three resource definition diamond drill holes completed at its Idaho cobalt project. According to the company, the results “confirm intercepts above the current resource grade cut-off drilled [at the property].”

4. Trilogy Metals

Trilogy Metals’ main assets are the Upper Kobuk mineral projects in Alaska’s Ambler Mining District. The company says it is “uniquely positioned” to give investors exposure to rising copper, zinc, gold and silver prices, and it is working to determine the extent of mineralization at its projects.
The company’s share price rose 19.79 percent last week to finish at $1.13 after it announced that South32 (ASX:S32,LSE:S32) has committed to fund the US$10-million program and budget for Trilogy’s Bornite project. According to Trilogy, the upcoming drill program at Bornite will include infill and offset drilling and will be aimed at better defining and expanding the project’s high-grade copper resources.

5. Laramide Resources

Laramide Resources has uranium assets in both the US and Australia. Its US properties include the Church Rock and Crownpoint ISR projects in New Mexico, as well as the Utah-based La Sal project. It says its Australia-based Westmoreland property is one of the largest uranium projects held by a junior. It did not release any news last week, but its share price jumped 18.18 percent to close at $0.50.
Data for 5 Top Weekly TSX Stocks articles is retrieved each at 10:30 a.m. PST 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.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.