Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The top five gainers are as follows:
- NextSource Materials (TSX:NEXT)
- RNC Minerals (TSX:RNX)
- Lydian International (TSX:LYD)
- Nickel Creek Platinum (TSX:NCP)
- Corvus Gold (TSX:KOR)
Here’s a look at those companies and the factors that moved their share prices last week.
1. NextSource Materials
NextSource Materials is developing its 100-percent-owned Molo graphite project in Southern Madagascar. The Madagascar-based asset is a feasibility-stage project with a total combined graphite resource of 141.28 million tonnes at 6.13 percent total graphitic carbon. It also contains ore reserves of 22.44 million tonnes at 7.02 percent graphitic carbon.
Last Tuesday (January 16), the company received approval to use its SuperFlake® trademark in Japan. NextSource’s share price gained 75 percent that day and over the course of the week it rose 84.62 percent to reach $0.12.
2. RNC Minerals
RNC Minerals is a multi-asset precious and base metals miner. The company’s principal properties are the producing Beta Hunt gold-nickel mine in Western Australia, the Dumont nickel-cobalt project in the Abitibi Mining Camp in Quebec and a 30-percent stake in the producing Reed mine in Manitoba’s Flin Flon-Snow Lake region.
On Monday of last week (January 15), the company announced plans to begin construction at its Dumont project in 2019. Then, several days later, RNC reported a 21-percent gold production increase at Beta Hunt. Over the five-day period, RNC’s share price spiked 79.41 percent to close at $0.30.
3. Lydian International
Middle of the pack on last week’s list is Lydian International, whose share price saw an increase of 32.56 percent to close at $0.57. Lydian is a gold-focused company that is advancing construction at its 100-percent-owned Amulsar gold project in South-Central Armenia.
4. Nickel Creek Platinum
Nickel Creek Platinum, formerly Wellgreen Platinum, is an exploration and development company that is moving forward at its 100-percent-owned Nickel Shäw project, which it hopes will become Canada’s next world-class nickel sulfide mine. The company did not release any news last week, but its share price nevertheless rose 17.24 percent to close the five-day period at $0.34.
5. Corvus Gold
Last but not least is Corvus Gold, whose share price increased 11.8 percent to end last week at $1.80. Its principal assets are the North Bullfrog and Mother Lode projects, located in Nevada.
This past Thursday (January 18), Corvus released assay results from eight drill holes completed during a Phase I drill program at Mother Lode last year. According to the company, the results “continue to delineate the extension of the Mother Lode deposit to the west … and there appears to be early indications of a new deep zone below the historic pit zone.” Additionally, “a new drill fence 50 metres to the north of the northern-most drilling has shown that the system continues to expand to the north-northwest of historic hole ML-338.”
Don’t forget to follow us at @INN_Resource for real-time news updates!
Data for 5 Top TSX Stocks articles is retrieved each Friday 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.
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.