5 Top Weekly TSX Stocks: Liberty Hits High-grade Gold

After falling through most of last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) ended Friday (October 4) on a high, gaining 57.35 points to reach 16,426.38.

World news was heavy on US impeachment and Brexit, with British Prime Minister Boris Johnson pledging there will be no delay to Brexit even if there is no deal — despite agreeing in court to seek a delay to meet legal requirements set by parliament. 

Among commodities, gold was flat last week at US$1,503.60 per ounce, while silver was slightly down over the five day period at US$17.45 per ounce.

Despite those falls, precious metals were very much on the mind last week. Below are the top five gaining resources and energy stocks on the TSX, and all of them are precious metals-focused companies.

• Liberty Gold (TSX:LGD)
• International Tower Hill Mines (TSX:ITH)
• Continental Gold (TSX:CNL)
• Marathon Gold (TSX:MOZ)
• North American Palladium (TSX:PDL)

Read on to see what they have been up to lately.

Liberty Gold

Liberty Gold has three core gold projects in Nevada, Idaho and Utah, which collectively fall within the Great Basin, where Liberty focuses its attention.

On Tuesday (October 1), the company announced it has hit high-grade gold while drilling at its Black Pine project in Idaho. Results include 2.51 grams per tonne (g/t) oxide gold over 41.1 meters and 0.94 g/t gold over 100.6 meters.

With that, the company led in terms of resources companies on the TSX last week, with its share price increasing by 16 percent to C$0.87 by Friday.

International Tower Hill Mines

This company owns the Livengood gold project in Alaska, which it describes as the sole American gold-only project not owned by any of the majors.

On its website, news is thin on the ground. The company’s last published release, from August 9, details its second quarter results for 2019. That’s also its most recent release on SEDAR.

Despite that, International Tower Hill Mines was trading up by 7.14 percent last week, at C$0.75.

Continental Gold 

Continental Gold has its sights set firmly on Colombia, where it’s developing its 100 percent owned Buriticá gold project in Antioquia for scheduled production in 2020.

The company had news hot off the presses last week, releasing a sustainability report on Wednesday (October 2). Its shares were trading at C$4.11 last Friday, up 6.75 percent.

Marathon Gold

Marathon Gold is a Canadian development company with a focus on its Valentine gold project in Newfoundland and Labrador.

The company reported new drill results from Valentine on Wednesday, including 4.64 g/t gold over 29 meters, 3.38 g/t gold over 29 meters, 2.36 g/t gold over 39 meters and 2.22 g/t gold over 25 meters.

Marathon got a modest boost in share price in Toronto of 5.88 percent to reach C$1.44 last Friday.

North American Palladium

North American Palladium has been mining the precious metal that gives it its name for 25 years at its Lac des Iles underground mine in Ontario. The company has recently been ramping up production.

In August, North American Palladium acquired a 51 percent interest in the Sunday Lake platinum-group metals project in Ontario, near its Lac des Iles mine.

North American Palladium was trading at C$19.25 by the end of last week, up by 4.85 percent. Click here to listen to our recent interview with President and CEO Jim Gallagher.

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 C$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.