5 Top Weekly TSX Performers: Gold Springs Up on New Discovery

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened flat last Friday (October 22), and was trading at 21,231.64 by midday. It closed the period at 21,214.66.

Despite the gains seen in energy and materials stocks, the Canadian index was weighed down by weakness in the healthcare and technology sectors.

On Friday, commodities gold and silver were on track for another weekly gain, while the US Dollar Index was headed for a second week of declines.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• Forza Petroleum (TSX:FORZ)
• Mawson Gold (TSX:MAW)
• Laramide Resources (TSX:LAM)
• Josemaria Resources (TSX:JOSE)
• Gold Springs Resource (TSX:GRC)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Forza Petroleum

Forza Petroleum, formerly Oryx Petroleum, is an international oil exploration, development and production company. The company operates, and has a 65 percent participating interest in, the Hawler license area in the Kurdistan region of Iraq.

Last week, shares of Forza increased 44 percent and were trading at C$0.18 by the end of the week.

2. Mawson Gold

Exploration and development company Mawson Gold is focused on its flagship Rajapalot gold-cobalt project in Finland and its Victorian gold properties in Australia.

Mawson didn’t release any news last week, but shares increased 35.29 percent to end at C$0.23.

3. Laramide Resources

Uranium company Laramide Resources owns several projects in the US and Australia, including the Churchrock and Crowpoint in situ recovery projects. The miner is also advancing its Utah-based La Sal project and La Jara Messa in New Mexico.

Over the five day period, shares of Laramide increased 18.68 percent to end the week at C$1.08.

4. Josemaria Resources

Josemaria Resources is advancing its 100 percent owned Josemaria copper-gold project in Argentina to a production decision; it has proven and probable reserves of 6.7 billion pounds copper, 7 million ounces gold and 30.7 million ounces silver. Josemaria Resources is part of the Lundin Group of Companies.

Last week, Josemaria Resources saw its share price increase 17.36 percent to hit C$1.42.

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 Tuesday (October 19), the company announced a new discovery of gold mineralization within the previously undrilled Charlie Ross target, located on the Nevada portion of its Gold Springs asset. Shares went up 15.38 percent last week, and were at C$0.22 by the end of the period.

Data for 5 Top Weekly TSX 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$50 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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.