5 Top Weekly TSX Stocks: Index Takes a Hit

The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged lower last week, dropping 0.65 percent to end the five-day period at 15,506.68 points.
On Friday (March 10), The Globe and Mail reported that the index was suffering due to a drop in the share price of Toronto-Dominion Bank (TSX:TD,NYSE:TD). Bank employees have admitted to using illegal behavior to meet sales quotas, according to a CBC report.
At least some TSX-listed mining companies managed to avoid declines. In fact, the index’s materials group, which includes precious and base metals miners, as well as fertilizer companies, gained 0.9 percent last week. The five mining stocks on the TSX that saw the biggest gains last week were:

• Scandium International (TSX:SCY)
• Fission Uranium  (TSX:FCU)
• Corvus Gold (TSX:KOR)
• Osisko Mining (TSX:OSK)
• Perseus Mining (TSX:PRU)

Here’s a brief overview of the factors that moved their share prices last week.

Scandium International

Scandium International owns an 80-percent interest in the Nyngan scandium project in Australia. In May 2016, the company completed a feasibility study for the project; it is now focusing on bringing the project into production, and aims to make it the world’s first primary scandium mine.
Last week, Scandium International’s share price rose 15.38 percent to close the five-day period at $0.375. While the company did not release any news during that period, on March 2 it announced that it has entered into a memorandum of understanding with Weston Aluminium to “jointly develop the capability to manufacture aluminum-scandium master alloy.”

Fission Uranium

Fission Uranium’s focus is on the Paterson Lake South uranium project in Saskatchewan’s Athabasca Basin. The project plays host to the Triple R deposit, a high-grade, shallow-depth deposit.
Last week, the company’s share price increased 9.33 percent to close at $0.82. Despite that rise, the company did not release any news during the period.

Corvus Gold

Corvus Gold’s share price rose 6.49 percent last week to end at $0.82, although the company did not release any news. It is currently focused on its North Bullfrog project in Nevada, which was formerly operated by Barrick Gold (TSX:ABX,NYSE:ABX). Corvus Gold’s latest news came on February 23, when it reported its latest drill results from North Bullfrog.

Osisko Mining

Osisko Mining owns the high-grade Windfall Lake gold deposit and the Marban project, and also holds 100-percent, undivided interests in a number of claims in the Urban Barry area. All of those assets are located in Quebec.
On March 6, the company announced a land acquisition in the Lebel-Sur-Quevillon area in Quebec. Last week, its share price increased by 4.88 percent and closed $4.08.

Perseus Mining

Rounding out the list is Perseus Mining, which acquired Amara Mining in April 2016. Since then, the company has been able to build a strong portfolio, which includes the Edikan gold mine in Ghana, and the Sissingue and Yaoure projects in Cote d’Ivoire.
Last week, the company’s share price rose 3.17 percent to close at $0.325. Despite its share price increase, Perseus Mining did not release any news during the period.
Data for 5 Top Weekly 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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This article is updated each week. Please scroll to the top for the most recent information.

By Jocelyn Aspa, March 3, 2017
The S&P/TSX Composite Index (INDEXTSI:OSPTX) made a recovery last week, rising 0.48 percent to close the five-day period at 15,608.50 points.
On Friday, Reuters reported that the index achieved its highest close in a week on stronger oil prices and the possibility of interest rates increasing. A number of TSX-listed mining stocks were also on the move last week, particularly in the base and precious metals sectors.
The five top gainers were:

• Amerigo Resources (TSX:ARG)
• Nautilus Minerals (TSX:NUS)
• Marathon Gold (TSX:MOZ)
• Avesoro Resources (TSX:ASO)
• Treasury Metals (TSX:TML)

Here’s a closer look at those companies.

Amerigo Resources

Amerigo Resources is the 100-percent owner of the MVC operation in Chile and has been producing copper concentrates for over 25 years. In 2016, the operation produced 57 million pounds of copper.
On February 22, the company released its 2016 and Q4-2016 financial results. Amerigo’s president and CEO, Rob Henderson, said that the company plans to increase copper production at its MVC operation.
Last week, shares of Amerigo Resources were up 42.86 percent to close the week at $0.80, although there was no news pertaining to the increase.

Nautilus Minerals

Nautilus Minerals claims to be the first company to commercially explore the seafloor for massive sulfide systems, which are a potential source of high-grade copper, gold, zinc and silver. Its Solwara 1 copper-gold project is currently under development in the territorial waters of Papua New Guinea.
Last week, the company’s shares saw an increase of 36.11 percent to end the week at $0.245. Although the company did not release any news over the week, its latest announcement delivered a $2 million finance notice to investors regarding a private placement of 16,221,118 shares.

Marathon Gold

Marathon Gold is currently focused on its flagship Valentine Lake property in Newfoundland. The company also has two exploration projects–the Baie Verte, also in Newfoundland, and the Bonanza Mine in Oregon.

On February 28, the company announced drilling results from the Valentine Lake property. In particular, the company highlighted that the Marathon Deposit has a much larger resource pit shell than previously indicated. The news helped Marathon Gold’s shares rise 16.84 percent to end the week at $1.11.

Avesoro Resources

Avesoro Resources is a gold producer in West Africa, and allegedly is the first commercial gold mine in Liberia.
The company’s main asset is the New Liberty Gold mine, which went into production in March 2016. Last week shares of Avesoro Resource were up 12.5 percent to end the week at $0.045.  Despite the share price increase, there was no related news.

Treasury Metals

Last but not least is Treasury Metals, whose share price increased 9.72 percent last week to $0.79.
Currently, the company is focused on the Goliath Gold project in Ontario. Treasury Metals alleges it plans on the initial development of an open pit gold mine and later turning to underground operations.  On March 1, the company announced a development strategy to further advance the project, which no doubt contributed to its share price increase.
Data for 5 Top Weekly 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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5 Top Weekly TSX Stocks: Atalaya Mining Rises After Copper Acquisition