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Last week, the top gainers on the Toronto Stock Exchange were Lydian International, Lithium Americas, Allana Potash, Ivernia and Mega Uranium. Here’s a brief look at what — if anything — moved the share prices of those companies.
It’s a tumultuous time in the resource space, but that didn’t stop a number of stocks from faring well on the TSX last week.
The top gainer was Lydian International (TSX:LYD), but it was followed closely by Lithium Americas (TSX:LAC) and Allana Potash (TSX:AAA). Finishing off the list were Ivernia (TSX:IVW) and Mega Uranium (TSX:MGA).
Lydian International
Lydian International rose 11.11 percent last week to close at $0.60. The company’s primary focus is its Amulsar gold project in Armenia, where exploration has identified a gold resource of 2.3 million ounces.
On November 27, Lydian announced that it has reached the final stage of the permitting process for Amulsar with the approval of a key mining right. The company will now begin to develop the project. “The previous EIA and TSP approvals, and now this most recent approval of the mining right, were the subjects of intensive and thorough interaction with the Armenian authorities, local communities, members of civil society, and others,” Lydian’s president and CEO, Howard Stevenson, said in a release.
Lithium Americas
Lithium Americas came in second last week, rising 8.57 percent to trade at $0.38. The Cauchari-Olaroz lithium project in Argentina is the company’s principal focus, and on November 24 it announced it has formally inaugurated a pilot lithium extraction plant there.
“We are celebrating a monumental achievement,” Lithium Americas’ executive chairman, Tom Hodgson, said at the time. “POSCO and LAC have worked extremely hard and productively together over the past year to get to this point.”
Allana Potash
Canada’s Allana Potash is mainly focused on its Danakhil potash project in Ethiopia, though it also holds a 100-percent interest in more than 154,000 hectares in Argentina’s potash-rich Nequen province. The company rose 7.14 percent last week to trade at $0.30 though it released no news.
Ivernia
Base metals miner Ivernia owns the Paroo Station mine through its indirect subsidiary Rosslyn Hill. The mine, located in Western Australia, hosts lead deposits as well as deposits of other base metals. Like Allana, it reported no news last week but nevertheless rose 5.88 percent to trade at $0.09.
Mega Uranium
Mega Uranium operates in Africa, Australia and Canada, and actively seeks out new opportunities for discovery and development. Its principal project is the Lake Maitland uranium project in Western Australia. The company’s stock rose 2.56 percent last week to trade at $0.20; there was no news to explain the rise.
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