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

Last week’s top-gaining stocks on the TSX were Forza Petroleum, Mawson Gold, Laramide, Josemaria Resources and Gold Springs Resources.

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.

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.

Featured
Delivering long-term value from an unmatched portfolio of world-class, long-life operations and a robust organic project pipeline Newmont Corporation announced its 2022 outlook * with attributable gold production guidance of 6.2 million ounces and AISC ** of $1,050 per ounce at an $1,800 gold price assumption. Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in ...

Delivering long-term value from an unmatched portfolio of world-class, long-life operations and a robust organic project pipeline

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced its 2022 outlook * with attributable gold production guidance of 6.2 million ounces and AISC ** of $1,050 per ounce at an $1,800 gold price assumption. Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in 2022 and improve longer-term, with declining costs through investments in new, lower-cost production and benefits from Full Potential improvements.

read more Show less
Download a PDF of detailed drill hole results for Wasamac YAMANA GOLD INC. is pleased to announce the following updates. At Wasamac, exploration has defined an entirely new shear zone which demonstrates the excellent exploration potential and opportunity to further grow the mineral inventory and support a production platform of 200,000 ounces per year over a mine life of at least 15 years, significantly improving ...

Download a PDF of detailed drill hole results for Wasamac

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") is pleased to announce the following updates.

read more Show less
Donlin Gold LLC owned 5050 by Barrick Gold Corporation and NOVAGOLD RESOURCES INC. is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are ...

Donlin Gold LLC ("Donlin Gold"), owned 5050 by Barrick Gold Corporation ("Barrick") (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. ("NOVAGOLD") (TSX, NYSE American: NG), is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are reported below.

  • During the September 2021 executive management meetings in Alaska, the combined team reaffirmed its confidence in the deposit and charted a course toward advancing the project up the value chain
  • In addition, senior executives, including Barrick and NOVAGOLD CEOs Mark Bristow and Greg Lang, met with local stakeholders as well as senior Alaska Federal and State government officials who expressed their continued strong support for the project
  • Assay results from approximately 65% or 15,700 meters of drilling continue to support the global resource estimate, recent modelling concepts, and strategic mine planning work
  • With a progression plan in place, subject to results from the upcoming drill program the partners are well positioned to be able to proceed with a feasibility study update in 2022

2021 Drill Program Delivers Consistent Results

read more Show less

MARKETS

Markets
TSX20633.27-128.76
TSXV897.13-13.09
DOW34580.08-59.71
S&P 5004538.43-38.67
NASD15085.47-295.85
ASX7241.20+16.00

COMMODITIES

Commodities
Gold1783.44+1.06
Silver22.54+0.03
Copper4.27-0.03
Palladium1816.01+10.01
Platinum936.31+3.31
Oil66.22-0.28
Heating Oil2.10-0.01
Natural Gas4.09+0.04