Precious Metals


Last week’s top-gaining stocks on the TSX were Freegold Ventures, Cardinal Resources, Aura Minerals, PolyMet Mining and Lucara Diamond. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher on Friday (June 19) at 15,483.73.

The index was up on the back of gains for energy stocks, which received a boost from higher oil prices.

In other commodities, gold and silver were on track for a weekly gain, with copper also in the green and heading for its fifth consecutive week of gains.

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

  • Freegold Ventures (TSX:FVL)
  • Cardinal Resources (TSX:CDV)
  • Aura Minerals (TSX:ORA)
  • Polymet Mining (TSX:POM)
  • Lucara Diamonds (TSX:LUC)

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

1. Freegold Ventures

Freegold Ventures is focused on exploring for copper and gold near Fairbanks, Alaska. The company holds the Golden Summit project and the Shorty Creek project.

Last Tuesday (June 16), the company announced that drilling has restarted at Golden Summit. A Phase 1, 10,000 meter drill program of approximately 15 to 20 holes is planned. Last week, the company’s share price jumped 51.85 percent to end the period at C$0.82.

2. Cardinal Resources

Cardinal Resources is a West Africa gold-focused exploration and development company that holds interests in tenements within Ghana, West Africa. The company is focused on the development of the Namdini gold project.

Last Thursday (June 18), the dual-listed company received a 100 percent cash takeover offer from Shandong Gold (SHA:600547) for a price of AU$0.60 per Cardinal share. That represents a 29 percent premium to Cardinal’s last closing price of AU$0.465.

As a result of the news, Cardinal’s share price went up by 41.46 percent to reach C$0.58.

3. Aura Minerals

Focused on gold and base metals projects, Aura Minerals is a mid-tier producer working on multiple projects in Mexico, Honduras, Colombia and Brazil. The company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico.

Despite having no company news last week, Aura’s share price jumped 37.42 percent to end at C$121.

4. PolyMet Mining

PolyMet Mining holds a 100 percent interest in the NorthMet copper-nickelprecious metals orebody through a long-term lease. The project, which is located in the Mesabi Iron Range in Northeastern Minnesota, has a definitive feasibility study and has received permits that allow PolyMet to build and operate an open-pit mine and associated processing facilities.

Last Tuesday, the Minnesota Supreme Court granted a review of a Minnesota Court of Appeals ruling regarding the NorthMet project’s air permit. It is the second case for which the Supreme Court has granted a review of the lower court’s ruling on NorthMet project permits.

Last week, PolyMet Mining saw its share price increase 30.34 percent to C$0.58.

5. Lucara Diamond

Lucara Diamond’s 100 percent owned Karowe diamond mine, located in Botswana, has been in production since 2012 and is one of the world’s foremost producers of large, high-quality, Type IIA diamonds in excess of 10.8 carats, including the historic 1,758 carat Sewelô, the 1,109 carat Lesedi La Rona and the 813 carat Constellation, which sold for a record US$63.1 million.

Even though it did not release news last week, shares of Lucara rose 25.45 percent to end at C$0.69.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within energy minerals and non-energy minerals sectors are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.


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