5 Top Weekly TSX Stocks: Lithium Americas Up After Tesla Shares Plans

- October 4th, 2020

Last week’s top-gaining stocks on the TSX were Lithium Americas, Solgold, Anglo Pacific Group, Auryn Resources and Aya Gold and Silver. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upward last Friday (October 2), but ended the week down overall at 16,198.52. 

Markets were reacting on Friday to news that US President Donald Trump and First Lady Melania Trump have both tested positive for COVID-19.

In commodities, gold edged up as investors turned to safe haven assets, while copper held steady on Friday after hitting a seven week low earlier in the period.

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

  • Lithium Americas (TSX:LAC)
  • Solgold (TSX:SOLG)
  • Anglo Pacific Group (TSX:APY)
  • Auryn Resources (TSX:AUG)
  • Aya Gold and Silver (TSX:AYA)

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

1. Lithium Americas

Lithium Americas owns the Thacker Pass lithium claystone project in Nevada. With an initial Phase 1 capital cost of US$581 million, it would have an annual production capacity of 60,000 tonnes per year.

Processing lithium from clay took center stage after Tesla’s (NASDAQ:TSLA) Battery Day, when Elon Musk said the company has acquired lithium-rich clay deposits in Nevada.

In addition to Thacker Pass, Lithium Americas and Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772,SZSE:002460) are developing the Caucharí-Olaroz project, located in Jujuy, Argentina. Production was expected in early 2021, with output capacity estimated at 40,000 tonnes per year, but plans are being revised as the impact of the coronavirus continues to be assessed.

During the five day period, the company’s share price jumped 65.41 percent to end at C$18.84.

2. Solgold

SolGold is currently engaged in developing Cascabel in Ecuador, the company’s flagship project, which has delivered intersections of continuous copper and gold mineralization.

Last Wednesday (September 30), the company released an updated prefeasibility study for its Alpala project in the Cascabel concession in Northern Ecuador. Last week, Solgold’s share price jumped 26.67 percent, finishing at C$0.57.


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3. Anglo Pacific Group

Anglo Pacific Group is focused on royalties connected to the mining of natural resources, with interests in producing, development and early stage projects. The company’s main royalties come from coking coal, iron ore and thermal coal, but it also has exposure to uranium and gold.

The company did not release any news last week, but shares increased 19.12 percent to end at C$2.43.

4. Auryn Resources

Auryn Resources is a junior exploration company focused on finding and advancing globally significant precious and base metal deposits. Auryn has built a portfolio of six projects in Canada and Peru containing gold, silver and copper resources and exploration targets.

Last Thursday (October 1), Auryn and Eastmain Resources (TSX:ER,OTCQB:EANRF) announced that shareholders of both companies have voted in support of previously announced transactions in which Auryn will spin out its Peruvian assets and immediately acquire Eastmain. Last week, the company’s share price jumped 15.5 percent to end the period at C$2.98.

5. Aya Gold and Silver

Aya Gold and Silver is focused on the acquisition and exploration of mineral properties located in Morocco. Its flagship projects are the Zgounder silver mine and the Boumadine polymetallic deposit.

Despite not releasing news last week, the company rose 13.5 percent to reach C$2.69.

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.


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