Industrial Metals

canadian coal stocks

Last week’s top-gaining mining stocks on the TSXV were Buffalo Coal, Corsa Coal, Getty Copper, International Consolidated Uranium and Tsodilo Resources.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a volatile week, rising as high as 788.66 and falling as low as 770.17. It closed last Friday (December 11) at 779.11.

Markets faced some turbulence due to delays in a fresh US stimulus package; it is currently unclear if a deal will be made before Christmas on December 25.

In the commodities space, gold had a solid week, remaining above the US$1,800 per ounce level, while base metalcopper continued trading near its seven year high.

Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:

  • Buffalo Coal (TSXV:BUF)
  • Corsa Coal (TSXV:CSO)
  • Getty Copper (TSXV:GTC)
  • International Consolidated Uranium (TSXV:CUR)
  • Tsodilo Resources (TSXV:TSD)

Here’s a look at what may have moved their share prices over the last five days.

1. Buffalo Coal

Buffalo Coal has two coal mines in South Africa, Magdalena and Aviemore. According to the company, they have “substantial coal resources,” but Magdalena has been on care and maintenance since 2018.

Buffalo Coal filed a number of documents on SEDAR in mid-November, including its latest MD&A and interim financial statements. Aside from that, its latest news was in mid-September, when its 70 percent owned subsidiary was granted a mining right. Buffalo Coal rose 150 percent last week to close at C$0.03.

2. Corsa Coal

Corsa Coal is focused on the production of metallurgical coal, which it sells to domestic and international steel and coke producers. The company has mines in both Pennsylvania and Maryland.

The latest news from Corsa Coal came in early November, when it released its Q3 financial results and provided a corporate update. Despite the lack of fresh news, its share price jumped 87.18 percent last week to finish at C$0.37.

3. Getty Copper

Exploration and development company Getty Copper’s main goal is to bring its Highland Valley open-pittable porphyry copper deposits into production. The company’s land position covers about 269 square kilometers adjacent to the Highland Valley copper mine in British Columbia.

Like Buffalo Coal, Getty Copper filed a number of documents on SEDAR in November, including its latest MD&A and interim financial statements. It has not released any news since then, but last week its share price leaped 72.73 percent to reach C$0.10.

4. International Consolidated Uranium

Formerly NxGold, International Consolidated Uranium revealed a name and ticker change in early September. The company’s focus in recent months has been on adding uranium assets to its portfolio, although it also has exposure to gold-focused properties.

Last Monday (December 7), International Consolidated closed its option agreement to acquire the Moran Lake uranium-vanadium project in Newfoundland and Labrador; it has already completed its initial payment under the deal. The company’s share price increased 60 percent on the news to close at C$0.96.

5. Tsodilo Resources

Tsodilo Resources is a diamond, base and precious metals exploration company concentrated on Botswana and South Africa. Its assets include the Newdico, Gcwihaba, Bosoto and Idada projects.

Similar to other companies on this list, Tsodilo made a number of SEDAR filings at the end of November. Despite the lack of fresh news, its share price rose 53.85 percent last week to end at C$0.40.

Data for 5 Top Weekly TSXV 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$10 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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.


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