The top gainers on the TSX last week were Avesoro Resources, Horizonte Minerals, Guyana Goldfields, New Gold and Midas Gold.
In other news, relations between the US and UK were at a low, with US President Donald Trump turning his rage on former British Ambassador Sir Kim Darroch after his official (and confidential) assessment of the White House was leaked to UK media.
On the TSX, unsurprisingly gold stocks were up, though a battery metals-focused company managed to sneak into the top gainers list as well:
- Avesoro Resources (TSX:ASO)
- Horizonte Minerals (TSX:HZM)
- Guyana Goldfields (TSX:GUY)
- New Gold (TSX:NGD)
- Midas Gold (TSX:MAX)
Read on to find out what’s new with each company listed here.
Avesoro Resources is a West Africa-focused gold mining company with operating assets in Burkina Faso, as well as Liberia, which is host to its flagship New Liberty mine.
On July 10, Avesoro released its Q2 2019 production update, detailing gold production of 34,338 ounces for total H1 production of 79,435 ounces.
On the TSX, Avesoro was up by 54.9 percent over the week, reaching C$1.58 by Friday.
Horizonte Minerals has two projects in Brazil: the Araguaia ferronickel project and the Vermelho nickel–cobalt project. Araguaia has been in the news this year as the company has been moving toward construction footing for the project.
Through the year, Horizonte has continued to provide updates on development progress at Araguaia, with the most recent news being that the company is now permitted to access the national energy grid in Brazil to power its project.
In Toronto, Horizonte was trading up by 33.33 percent last week, to C$0.04.
Mid-tier gold miner Guyana Goldfields is focused on the exploration, development and operation of gold deposits in the South American nation that gives it its name.
Guyana released its Q2 operations results on July 11, detailing gold production of 37,300 ounces for an H1 total of 74,000 ounces. According to the company, it is on track to hit its production guidance of 145,000 to 160,000 ounces of gold.
The company was trading at C$1.27 by the end of the week, up by 25.74 percent.
Intermediate gold miner New Gold has producing assets in Canada and Mexico, and it bills itself as Canada focused, with three Canadian projects, including the producing Rainy River and New Afton mines.
Like many companies this time of year, New Gold has released Q2 results on cue.
New Gold’s production is on track to meet its 2019 guidance of 465,000 to 520,000 ounces of gold, with Q2 numbers clocking it at 132,556 ounces from its Rainy River and New Afton mines.
New Gold was up by 25.62 percent by the end of last week, reaching C$1.52.
Midas Gold is the sole owner of the Stibnite gold project, located in Central Idaho. The company completed an independent prefeasibility study on the site in 2014, which indicates potential for a large-scale, long-life, low-cost open-pit gold mine. In the time since, it has filed a plan of restoration and operations for the project.
The company’s most recent news back in June was the raising of almost C$20 million to advance various studies and permitting for the Stibnite project.
Midas was up by 19.53 percent last Friday, reaching C$0.77 by the end of the week.
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.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.