Last week’s top-gaining stocks on the TSX were Victoria Gold, Condor Gold, Corvus Gold, Loncor Resources and Guyana Goldfields.
The uptick came after oil prices hit a one month high on signs that demand is picking up.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Victoria Gold (TSX:VGCX)
- Condor Gold (TSX:COG)
- Corvus Gold (TSX:KOR)
- Loncor Resources (TSX:LN)
- Guyana Goldfields (TSX:GUY)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Victoria Gold
Victoria Gold’s Yukon-based Eagle gold mine began production last year. Its exploration activities are centered around its Dublin Gulch property and contiguous VBW claim blocks, also located in the Yukon.
Publishing an update last Monday (May 11), Victoria Gold said April was a successful month at Eagle as mining, crushing and stacking on the leach pad increased significantly. As a result, gold production also jumped substantially, and higher gold output is expected to continue over the coming months as more ore is placed under leach.
Last week, the company’s share price rose 59.49 percent to end the week at C$13.19.
2. Condor Gold
With a focus on Nicaragua, Condor Gold has projects in Central America. Its flagship asset is La India.
On Tuesday (May 12), the company released its quarterly results, highlighting an environmental permit obtained for the Mestiza and America open pits in April.
Condor Gold’s share price increased 53.23 percent over the five day period to close at C$0.95.
3. Corvus Gold
Junior exploration and development company Corvus Gold is focused on advancing and maturing its solely owned North Bullfrog gold property.
On Wednesday (May 13), the company received results from an initial deep core hole from the central intrusive zone target and discovered a large new gold mineralized zone below the known existing Mother Lode deposit. Corvus Gold saw its share price increase 37.33 percent last week to C$3.09.
4. Loncor Resources
Canadian gold exploration company Loncor Resources is focused on the Ngayu Greenstone Belt in the Democratic Republic of Congo. The company has a joint venture agreement under which Barrick Gold (TSX:ABX,NYSE:GOLD) will manage and fund exploration at Ngayu until the completion of a prefeasibility study on any gold discovery meeting Barrick’s investment criteria.
On Thursday (May 14), the company said Barrick rigs are set to start drilling this quarter on several priority targets at Ngayu. Last week, Loncor Resources saw its share price go up by 35.63 percent to reach C$0.59 by the end of the five day period.
5. Guyana Goldfields
Canada-based gold producer Guyana Goldfields is primarily focused on the exploration, development and operation of gold deposits in Guyana.
Guyana Goldfields made news headlines late in April, when precious metals producer Silvercorp Metals (TSX:SVM,NYSEAMERICAN:SVM) said it would buy the company in a C$105 million cash and share deal. Last Monday, the company received an unsolicited offer from Gran Colombia Gold (TSX:GCM,OTC Pink:GUYFF), which it unanimously rejected.
Shares of the company increased 28.57 percent last week to end at C$0.90.
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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.