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Precious Metals
5 Top TSX Stocks: Scandium International Soars
Nov. 20, 2016 07:45PM PST
The exchange rallied last week with some help from the energy sector although oil prices were still down.
The S&P/TSX Composite index (INDEXTSI:OSPTX) was on the rise last week, gaining 0.26 percent to close the five-day period with 14,864.03 points.
On Thursday, CTV News reported that the index rising was helped by the energy sector making gains although the oil price was down.
Companies that registered the highest gains over the five-day period included:
- Scandium International Mining (TSX:SCY)
- Treasury Metals (TSX:TML)
- Largo Resources (TSX:LGOLGC)
- TMAC Resources (TSX:TMR)
- Osisko Gold (TSX:OR)
Here is a closer look at those companies:
Scandium International Mining
First on the list is Scandium International Mining, who owns an 80 percent interest in the Nyngan Scandium Project in Australia. In May 2016, the company completed a feasibility study and is now focused on bringing the project to construction. On November 16, Scandium International announced the receipt of US$474,000 tax incentive refund in relation to costs incurred for the year-ended June 30, 2016.
Last week, shares of the company increased 62.5 percent to reach $0.26.
Treasury Metals
Treasury Metals is a gold exploration and development company, focused on its projects in Ontario. On November 11, the company announced initial results from phase 1 of the ongoing drilling program on its 100 percent owned Goliath Gold Project.
Shares of Treasury Metals increased 17.54 percent last week to reach $0.67.
Largo Resources
Middle of the pack on last week’s top gaining TSX stocks is Largo Resources, the only pure play producer of vanadium. On November 16, the company announced the signing of a non-binding term sheet for 2017 debt facilities.
Over the five-day period, shares of Largo Resources increased 17.5 percent to close the week at $0.47.
TMAC Resources
TMAC Resources holds 100 percent interest in the Hope Bay Project in Nunavut, Canada, and hopes to be Canada’s next major gold mining camp.
The company’s shares increased 9.27 percent last week to reach $17.10. Despite the boost in share price, TMAC Resources did not have any news on its gains.
Osisko Gold
Last but not least on the 5 top gaining TSX stocks is Osisko Gold, whose shares made a slight increase of 5.24 percent to finish the week off at $13.26. The company notes it is an intermediate precious metal royalty company, focused on activities in the Americas commenced in June 2014.
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Data for 5 Top TSX Stocks articles is retrieved each Friday after market close 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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