Last week’s top-gaining stocks on the TSX were Balmoral Resources, Maya Gold and Silver, Mandalay Resources, Minco Silver and Aura Resources.
Stock markets around the world fell sharply that day on the back of the COVID-19 coronavirus outbreak, as fears of an economic slowdown continue to worry investors.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Balmoral Resources (TSX:BAR)
- Maya Gold and Silver (TSX:MYA)
- Mandalay Resources (TSX:MND)
- Minco Silver (TSX:MSV)
- Aura Minerals (TSXV:ORA)
Here’s a look at those companies and the factors that moved their share prices last week.
Exploration and development company Balmoral Resources is focused on gold and base metals assets in Quebec. The company’s flagship is the Detour gold project, which includes the Martiniere gold deposit and the Grasset nickel deposit.
On Monday (March 2), Wallbridge Mining (TSX:WM,OTC Pink:WLBMF) announced plans to merge with Balmoral in an all-stock transaction valued at around C$110 million. As a result of the news, Balmoral’s share price increased 58.06 percent over the five day period to close at C$0.49.
Maya Gold and Silver
Maya Gold and Silver is focused on precious, base and strategic assets in Morocco. The company’s flagship projects are the Zgounder silver mine and the Boumadine polymetallic deposit.
On Tuesday (March 3), the company released results from a recent drilling program, as well as new surface samples from the Imarighen and Northern zones at Boumadine. Last week, the company’s share price jumped 53.66 percent to end at C$1.26.
Mandalay Resources has producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The company is focused on growing production at its gold and antimony Costerfield operation in Australia and at its Björkdal asset in Sweden.
The company did not release any news last week, but Mandalay Resources saw its share price increase 50 percent to C$0.69.
Vancouver-based Minco Silver is focused on the acquisition and development of silver projects. The company is developing the Fuwan silver project, which is located southwest of Guangzhou, the capital of Guangdong province in China.
The company had no news last week, but its share price went up 38.57 percent to reach C$0.49.
Focused on gold and base metals projects, Aura Minerals is a mid-tier producer working on multiple projects in Mexico, Honduras, Colombia and Brazil. Its producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico.
On Tuesday, the firm announced plans for an initial public offering in Brazil and an update to its mineral resources and reserves. Last week, shares of Aura Minerals increased 24.54 percent to end at C$81.
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 energy minerals and non-energy minerals sectors are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.