5 Top Weekly TSX Stocks: NextSource’s Molo Mine Construction on Schedule

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened flat last Friday (August 20), trading at 20,215.36. It closed the five day period higher at 20,337.23.

The index broke its weekly gaining streak as oil prices fell, dragging demand for energy stocks.

On Friday, gold edged higher on the back of rising COVID-19 cases around the world, although the yellow metal’s gains were limited by a strong US dollar.

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

• NextSource Materials (TSX:NEXT) 
• Atalaya Mining (TSX:AYM)
• Mountain Province Diamonds (TSX:MPVD)
• UEX (TSX:UEX)
• Perpetua Resources (TSX:PPTA)

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

1. NextSource Materials

Toronto-based NextSource Materials is a mine development company in the final development stage for its 100 percent owned Molo graphite project in Southern Madagascar. The Molo project is a fully permitted, feasibility-stage project and is the only project with SuperFlake graphite.

Last Wednesday (August 18), the company announced that project construction is on schedule and on budget at Molo, with commissioning set for the second quarter of 2022. Over the five day period, the company’s share price jumped 14.47 percent to end the week at C$2.69.

2. Atalaya Mining

Atalaya Mining produces copper concentrates with silver as a by-product at its wholly owned Proyecto Riotinto site in Southwest Spain. In addition, it has a phased earn-in agreement for up to 80 percent ownership of Proyecto Touro, a brownfield copper project in the northwest of Spain.

The company did not release any news last week, but Atalaya Mining saw its share price increase 8.57 percent during that timeframe to C$5.70.

3. Mountain Province Diamonds

Mountain Province Diamonds holds an interest in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kue, a joint venture between the company and De Beers, owned by Anglo American (LSE:AAL,OTCQX:AAUKF), is one of the world’s largest new diamond mines.

Over the five day period, the company’s share price rose 6.38 percent to end the week at C$0.50.

4. UEX

UEX has made significant advancements in the discovery and development of existing and new uranium and cobalt deposits in the Athabasca Basin. The company has four flagship projects: the West Bear project, the Christie Lake property, the Horseshoe and Raven deposits and the Shea Creek property.

The company did not release any news last week, but the Saskatchewan-focused company’s share price jumped 5.17 percent to end the week at C$0.30.

5. Perpetua Resources

Perpetua Resources, through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of Central Idaho; these deposits are encompassed by the Stibnite gold project.

Last Tuesday (August 17), the company closed a $50 million public offering. Perpetua Resources saw its share price increase 4.73 percent last week to C$6.86.

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.

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

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