Last week’s top-gaining stocks on the TSX were China Gold, Solitario Zinc, Lucara Diamond, Moneta Porcupine and Black Iron.
Editor’s note — This article has been updated to reflect that Moneta Porcupine, not Black Iron, intends to acquire the Garrison project from O3 Mining.
The index fell over the course of the week, pulled down by energy and materials stocks.
In commodities, gold and silver fell on Friday, but were on track for a weekly gain, while copper was trading above the US$8,000 per tonne mark again after a short retreat at the beginning of the week.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- China Gold International (TSX:CGG)
- Solitario Zinc (TSX:SLR)
- Lucara Diamond (TSX:LUC)
- Moneta Porcupine (TSX:ME)
- Black Iron (TSX:BKI)
Here’s a look at those companies and the factors that moved their share prices last week.
1. China Gold International
China Gold International operates two mines: the CSH gold mine in Mongolia, and the Jiama copper-gold polymetallic mine in Tibet.
Last Thursday (January 21), the company reported preliminary consolidated 2020 gold production of about 234,700 ounces, exceeding its guidance of 212,000 ounces by around 10 percent. Preliminary results for copper production also exceeded guidance by more than 21 percent at 176 million pounds. Shares of China Gold increased 25 percent last week to end at C$2.20.
2. Solitario Zinc
Solitario Zinc holds a 50 percent joint venture stake in Alaska’s high-grade, open-pittable Lik zinc deposit. It also has a 39 percent joint venture interest in the high-grade Florida Canyon zinc project in Peru.
Despite not releasing news last week, shares of Solitario Zinc increased 22.22 percent to end at C$0.99.
3. 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.
On January 14, the company reported the recovery of an unbroken 341 carat top white, gem-quality diamond from its Karowe mine. Last week, shares of the company increased 21.54 percent to end the five day period at C$0.79.
4. Moneta Porcupine
Gold exploration company Moneta Porcupine holds a 100 percent interest in six core gold projects and a 50 percent joint venture with Kirkland Lake Gold (TSX:KL,NYSE:KL,ASX:KLA).
The projects are strategically located on or along the Destor Porcupine fault zone corridor, one of the key mineralized structures in the Abitibi greenstone belt in Ontario.
Some of the latest news from Moneta Porcupine came on January 14, when it announced it will acquire the Garrison project from O3 Mining (TSXV:OIII,OTCQX:OIIIF). Last week, shares of the company increased 21.13 percent, ending the five day period at C$0.43.
5. Black Iron
Toronto-based Black Iron is focused on advancing its 100 percent owned Shymanivske project, located in Krivyi Rih, Ukraine, to production. Last Tuesday (January 19), the company held a webinar to discuss its upcoming plans. Black Iron saw its share price go up by 17.19 percent last week to reach C$0.37.
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.