5 Top Weekly TSX Stocks: Guyana Goldfields Up on C$105 Million Acquisition

- May 3rd, 2020

Precious metals producer Silvercorp Metals said it plans to buy Guyana Goldfields in a C$105 million cash and share deal.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) declined on Friday (May 1), edging down 169.8 points to close the week at 14,610.94.

The index opened lower on the first day of May as investor sentiment turned negative following US President Donald Trump’s threat to impose new tariffs on China over the coronavirus crisis.

In commodities, gold retreated from the US$1,700 per ounce level, with silver also easing on Friday and on track for its worst week in more than a month.


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

  • Painted Pony (TSX:PONY)
  • Guyana Goldfields (TSX:GUY)
  • Mawson Resources (TSX:MAW)
  • Horizonte Minerals (TSX:HZM)
  • Belo Sun Mining (TSX:BSX)

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

1. Painted Pony

Painted Pony is a natural gas producer that operates in the Montney formation in Northeast BC. Painted Pony’s Montney gas is sweet gas with high heat content and no associated water production.

The last news from the company came out on March 11, when Painted Pony released its fourth-quarter and full-year 2019 financial and operating results. Despite the lack of recent news, the company’s share price jumped 58.02 percent to end last week at C$0.64.

2. Guyana Goldfields

Canada-based gold producer Guyana Goldfields is primarily focused on the exploration, development and operation of gold deposits in Guyana, South America.

Guyana Goldfields made news headlines last week when precious metals producer Silvercorp Metals (TSX:SVM) said it plans to buy the company in a C$105 million cash and share deal.

The company’s share price increased 51.81 percent on the news to close at C$0.63.

3. Mawson Resources

Exploration and development company Mawson Resources is focused on its flagship Rajapalot gold-cobalt project in Finland.

The latest news from the company came on April 20, when it released drill results that continued to extend gold and cobalt mineralization beyond previously defined resources.


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Mawson Resources saw its share price increase 43.64 percent last week to C$0.39.

4. Horizonte Minerals

Nickel developer Horizonte Minerals holds interests in the Araguaia nickel project, as well as the Vermelho nickel-cobalt project in Brazil.

On April 20, the company posted its annual report for 2019, showing its progress at both projects, including a prefeasibility study at Vermelho.

Last week, Horizonte Minerals saw its share price go up by 42.86 percent to reach C$0.05.

5. Belo Sun Mining

Canadian gold explorer Belo Sun Mining is currently focused on developing its Volta Grande gold project. Located in Brazil, a feasibility study for the asset was completed in 2015.

On April 24, Belo Sun gave an update on activities, including measures it has taken to prevent the spread of COVID-19 at its operations. Last week, company shares increased 32.79 percent to end at C$0.81.

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.


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