The Conversation (0)
5 Top Weekly TSX Performers: Gold Springs Up on New Gold System Discovery
Dec. 05, 2021 07:40PM PST
Last week's top-gaining stocks on the TSX were Vermilion Energy, Xtra-Gold, Forsys Metals, Verde Agritech and Gold Springs Resources.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,567.17 by midday on Friday (December 3). It closed the five day period higher at 20,634.5.
The index opened with support from energy stocks, which were up on the back of rising oil prices.
On Friday, gold and silver prices were steady following the release of a weak US jobs report.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Vermilion Energy (TSX:VET)
- Xtra-Gold Resources (TSX:XTG)
- Forsys Metals (TSX:FSY)
- Verde Agritech (TSX:NPK)
- Gold Springs Resource (TSX:GRC)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Vermilion Energy
Vermilion Energy is an international energy producer focused on the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia.
Last Monday (November 29), Vermilion entered into an agreement to acquire Equinor Energy Ireland, which owns a 36.5 percent interest in the Corrib natural gas project, for total consideration of US$434 million before closing adjustments and contingent payments.
Shares of Vermilion Energy increased 14.7 percent last week to trade at C$13.19.
2. Xtra-Gold
Xtra-Gold is an exploration company with a substantial land position in the Kibi gold belt. It holds five mining leases totaling about 226 square kilometers (22,600 hectares) at the northern extremity of the Kibi gold belt.
Last week, Xtra-Gold did not release any news, but shares of the company increased 10.1 percent to end at C$1.09.
3. Forsys Metals
Forsys Metals is focused on developing uranium projects in Africa. Currently, the explorer owns the Norasa project, which includes the fully permitted Valencia uranium project, and it is also developing the Namibplaas uranium project. Both projects are in Namibia.
Over the five day period, shares of Forsys Metals increased 9.41 percent to end the week at C$0.93.
4. Verde Agritech
Verde AgriTech is developing its Cerrado Verde project, located in Brazil. The project contains a potassium-rich deposit from which the company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.
Last week, Verde Agritech saw its share price increase 8.6 percent to C$2.02.
5. 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.
Last Friday (December 3), the company said it has discovered a new gold system on the Tremor target. Last week, shares of Gold Springs Resource increased 7.5 percent, and were trading at C$0.21 by the end of the period.
Data for 5 Top Weekly TSX 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.
https://www.linkedin.com/in/priscilabarrera/
pbarrera@investingnews.com
