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5 Top Weekly TSX Performers: Star Diamond Reaches Resolution with Rio Tinto
Last week's top-gaining stocks on the TSX were Star Diamond, Journey Energy, Gold Springs Resource, Osisko Mining and Crescent Point Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,866.79 by midday on Friday (December 10). It closed the five day period at 20,891.92.
After gaining for two consecutive days, the index opened higher on Friday, but was flat by midday as newly released inflation data was in line with expectations.
Looking over to commodities, gold and silver prices were up as their safe haven appeal received a boost, with platinum also on track for its first weekly gain in four weeks.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Star Diamond (TSX:DIAM)
- Journey Energy (TSX:JOY)
- Gold Springs Resource (TSX:GRC)
- Osisko Mining (TSX:OSK)
- Crescent Point Energy (TSX:CPG)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Star Diamond
Star Diamond is engaged in the acquisition, exploration and development of mineral properties. The company’s most significant asset is its interest in the Fort à la Corne property in Central Saskatchewan.
Last Thursday (December 9), Star Diamond and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), entered into binding agreements that comprehensively resolve all disputes between them. Shares of Star Diamond increased 63.89 percent last week, and were trading at C$0.29 by the end of the week.
2. Journey Energy
Journey Energy is an exploration and production company focused on oil-weighted operations in Western Canada. The company operates in the central and south regions of Alberta.
Last week, Journey didn't release any news, but company shares increased 26.29 percent to end at C$2.21.
3. Gold Springs Resource
Gold Springs Resource is a growth-focused mineral exploration company advancing the district-scale Gold Springs gold project situated in Nevada and Utah.
On December 3, Gold Springs announced assay results that the company believes confirm a new gold mineralization system. Over last week's five day period, it rose 20 percent to end the week at C$0.24.
4. Osisko Mining
Osisko Mining is focused on the acquisition, exploration and development of gold resource properties in Canada. The company holds a 100 percent interest in the high-grade Windfall gold deposit in Quebec's Abitibi greenstone belt. It also holds a 100 percent undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 2,600 square kilometers).
Last Wednesday (December 8), Osisko provided new analytical results from the ongoing drill program at Windfall, where drilling intercepted high-grade gold in expansion holes, including 164 grams per tonne over 8.8 meters. Last week, Osisko Mining saw its share price increase 19.09 percent to C$3.78.
5. Crescent Point Energy
Calgary-based Crescent Point Energy is an oil producer with interests in the Viewfield Bakken and Shaunavon light oil pools in Saskatchewan, among others.
Last Monday (December 6), the company published its formal 2022 capital expenditures budget and production guidance. It also announced another quarterly dividend increase that will start in the first quarter of 2022, plus planned share repurchases and the renewal of its credit facilities. Last week, shares of Crescent Point Energy increased 18.45 percent to trade at C$6.74 by the end of the week.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 11:00 a.m. EST 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.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.
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