5 Top Weekly TSX Stocks: Dynacor Gold Starts Construction on Plant Expansion

Last week’s top-gaining stocks on the TSX were Fortune Minerals, Forsys Metals, Loncor Resources, Cardinal Resources and Dynacor Gold. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened up last Friday (March 26) at 18,665.81.

The index was supported by energy stocks and higher oil prices, which gained more than 3 percent.

Gold edged higher on Friday, while silver eased on the back of a stronger US dollar. Copper was on track for a weekly loss, trading below the US$9,000 per tonne mark.

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

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

1. Fortune Minerals

Fortune Minerals is developing its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The goal is for bulk concentrate from NICO to be shipped to a planned metals processing plant in Saskatchewan. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products. The company also holds the Sue-Dianne copper-silver-gold deposit and other exploration projects in the Northwest Territories.

The company did not release any news last week, but its share price jumped 20 percent to end at C$0.18.

2. Forsys Metals

Forsys Metals is focused on developing uranium projects on the African continent. Currently the explorer owns the Norasa project, which includes the fully permitted Valencia uranium project, and it is also developing the Namibplaas uranium project, both in Namibia.

There was no news from Forsys last week, but shares increased 13.33 percent to end at C$0.68.

3. Loncor Resources

Canadian gold exploration company Loncor Resources is focused on the Ngayu greenstone belt in the Democratic Republic of Congo. The company has a joint venture agreement with Barrick Gold (NYSE:GOLD,TSX:ABX), which will manage and fund exploration at Ngayu until the completion of a prefeasibility study on any gold discovery meeting the investment criteria of Barrick.

Last Thursday (March 25), the company published further assay results from a drill program within its 84.68 percent owned Imbo project. Following the news, shares of Loncor Resources increased 9.59 percent to end the week at C$0.80.

4. Cardinal Resources

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

Last week, the company’s share price increased 8.68 percent to end the five day period at C$2.38.

5. Dynacor Gold

Dynacor Gold is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The company is engaged in gold production through the processing of ore purchased from the artisanal and small-scale mining industry. At present, Dynacor operates in Peru. It also owns a gold exploration property, Tumipampa, in the Apurimac department.

Last Wednesday (March 24), the company announced a US$1.8 million investment through internally generated cash flow to expand its Peruvian Veta Dorada ore processing plant capacity by 43 percent. The company saw its share price go up by 8.63 percent last week to reach C$2.14.

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.

Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.

Featured
Kirkland Lake Gold Ltd. today reported that the Company has been advised by the Environmental Protection Authority Victoria of the Victorian Government that the EPA has determined that low-level frequency noise is being emitted by the Fosterville Mine. The EPA has provided the Company with a Notice to Investigate and an Improvement Notice focused on the low-level frequency noise which it believes is emanating from ...

Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today reported that the Company has been advised by the Environmental Protection Authority ("EPA") Victoria of the Victorian Government that the EPA has determined that low-level frequency noise (in the range of 16-20 Hz) is being emitted by the Fosterville Mine.

The EPA has provided the Company with a Notice to Investigate and an Improvement Notice focused on the low-level frequency noise which it believes is emanating from the mine. Included within the notices are stated timelines covering a period of just over two months for investigating and resolving the issue of low-frequency noise as well as reporting to the EPA on modifications introduced and new testing completed. In addition, the EPA has indicated to the Company that additional action may be taken by the EPA that could result in restrictions on the use of certain equipment, primarily surface ventilation fans and surface drill rigs in the south portion of the mining lease, during the night, while the remediation period is completed. The potential impact of such measures on the Fosterville operations, should they be introduced, is currently being investigated.

Management at Fosterville has been aware of concerns expressed by residents in recent months regarding low-level frequency noise and has taken steps to evaluate and address these concerns. As part of these efforts, Fosterville commissioned two independent studies on noise levels produced by the mine. The studies were completed by accredited noise and acoustic specialist firms based in Australia, with both studies concluding that all mine generated noise was within regulatory limits.

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Kirkland Lake Gold Ltd. today announced that at a special meeting of shareholders held earlier today the Company’s shareholders voted in favour of the arrangement resolution approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company will be acquired by Agnico Eagle Mines Limited for common shares of Agnico Eagle in a merger of equals for consideration per Kirkland Share ...

Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that at a special meeting of shareholders held earlier today (the " Meeting "), the Company's shareholders voted in favour of the arrangement resolution (the " Kirkland Arrangement Resolution ") approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company (the " Kirkland Shares ") will be acquired by Agnico Eagle Mines Limited (" Agnico Eagle ") for common shares of Agnico Eagle (the " Agnico Shares ") in a merger of equals for consideration per Kirkland Share equal to 0.7935 of an Agnico Share (the " Arrangement ").

186,840,773 Kirkland Shares, representing approximately 70.85% of the issued and outstanding Kirkland Shares as at the record date, were voted at the Meeting. The Kirkland Arrangement Resolution was approved by 150,681,106 Kirkland Shares or approximately 80.65% of votes cast by Kirkland Lake Gold shareholders either in person or represented by proxy at the Meeting. The report of voting results will be made available under the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .

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Agnico Eagle Mines Limited is pleased to announce that at a special meeting of shareholders held earlier today Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. by way of a plan of arrangement under the Business Corporations Act . The resolution was approved by ...

Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) (" Agnico Eagle ") is pleased to announce that at a special meeting of shareholders held earlier today (the " Meeting "), Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. (" Kirkland Lake Gold ") by way of a plan of arrangement under the Business Corporations Act ( Ontario ) (the " Merger ").

The resolution was approved by approximately 99.86% of the votes cast by Agnico Eagle shareholders at the Meeting, with a shareholder turnout of 69.62%. Detailed voting results for the resolution are as follows:

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MARKETS

Markets
TSX21228.43+102.53
TSXV953.27+9.22
DOW35130.36+231.02
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NASD15677.91+186.25
ASX7279.30-128.00

COMMODITIES

Commodities
Gold1787.17-8.07
Silver23.03-0.28
Copper4.34+0.05
Palladium1813.02+28.52
Platinum975.00-5.00
Oil72.30+4.15
Heating Oil2.21+0.12
Natural Gas4.87-0.61