The top five gainers on the TSX last week were Lydian International, Talon Metals, Corvus Gold, Marathon Gold and Roxgold.
International news was mostly related to the trade war between the US and China, Brexit developments between the UK and EU as well as ongoing updates and developments regarding the US and Iran. Meanwhile, in Australia, Prime Minister Scott Morrison fell over the election finish line to snatch an unlikely victory from the jaws of certain defeat — according to poll numbers, at least.
In Toronto, gold miners dominated the top five gainers for the week.
- Lydian International (TSX:LYD)
- Talon Metals (TSX:TLO)
- Corvus Gold (TSX:KOR)
- Marathon Gold (TSX:MOZ)
- Roxgold (TSX:ROXG)
Lydian is a gold developer with a primary focus on its 100 percent owned Amulsar gold project in Armenia. The company also has assets in neighboring Georgia.
The Colorado-based company had been denied access to its Amulsar project since mid-2018 due to blockades, but, on April 12, Lydian reported that a court in Armenia ordered police to remove protestors and allow the company free access.
On the TSX last week, Lydian’s shares enjoyed a 44 percent increase in value, reaching C$0.18 by Friday.
On May 15, Talon released its quarterly results for Q1, detailing a net loss of US$2.8 million, while on the same day it also reported it had raised proceeds of US$1.75 million through a private placement to progress Tamarack.
Last week, Talon was up by 17.24 percent over five days by Friday, reaching C$0.17.
Corvus Gold has two projects in Nevada, North Bullfrog and Mother Lode — both of which are gold focused.
In Toronto, Corvus was up by 15.79 percent, trading at C$1.98 by the end of last week.
Marathon Gold is a Canadian developer with a focus on its Valentine gold project in Newfoundland and Labrador.
Valentine was the subject of a press release from Marathon earlier in May, with the company reporting positive test results for heap leaching at the asset. Since then, it has released its Q1 results and it reported on continued infill drilling successes at Valentine last Wednesday (May 22).
The company’s shares were trading at C$1.11 as of the end of last week, up 14.43 percent over the preceding week.
Focused on gold production in Africa, Roxgold is currently committed to developing its high-grade Yaramoko gold project located in the greenstone belt region of Burkina Faso.
Like many others on this list, Roxgold’s most recent news was its quarterly results, released in mid-May, highlighting what it says was a solid quarterly performance. The company reported that it is on track to meet its production and cost guidance for the year so far.
On the TSX, Roxgold was up by 9.78 percent to C$1.01 by Friday.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.