On the TSX last week, North American Palladium, Xanadu Mines, Copper Mountain Mining, eCobalt Solutions and Excelsior Mining all made the cut.
The top five gainers in the mining industry of the TSX last week were:
- North American Palladium (TSX:PDL)
- Xanadu Mines (TSX:XAM)
- Copper Mountain Mining (TSX:CMMC)
- eCobalt Solutions (TSX:ECS)
- Excelsior Mining (TSX:MIN)
Read on to find out a little about what each company has been up to.
North American Palladium
North American Palladium is a Canadian palladium miner with more than two decades of production at its Lac des lles mine located in Ontario. The company is the only pure play palladium producer in the mining sector.
From number five on the list to number one today — North American Palladium is riding a wave of interest in the precious metal, which has been rising in value since August 2018.
In mid-February North American Palladium released its fourth quarter and year end highlights for 2018. “Revenue for the year increased to C$396.8 million compared to C$272.4 million in 2017.”
On the TSX last week, the company was trading up 36.58 percent at C$25.13 on Friday.
Copper and gold explorer Xanadu Mines has its sights set firmly on Mongolia where it controls the Kharmagtai project as well as various exploration projects.
On Thursday (February 28), the company released details of a significant new zone of gold-rich porphyry mineralization at the Kharmagtai project, with the results expected to enhance the mining economics.
With the news on Thursday, Xanadu’s share price was up by 23.81 percent on the Toronto Stock Exchange by last Friday, to C$0.13.
Copper Mountain Mining
British Columbia-based Copper Mountain Mining sits on its flagship project, the Copper Mountain mine.
Last Monday (February 25), the company released big plans for the mine; a new integrated mine plan, increased copper and gold production, a longer mine life and lower cash costs.
Its shares on the TSX did a little jump for joy, reaching C$1.05 — an increase of 22.09 percent over the week.
eCobalt Solutions is an advanced-stage mining company established to provide cobalt for use in the rechargeable battery and renewable energy sectors. The company’s primary focus is the Idaho Cobalt Project, located in East-Central Idaho within the Idaho Cobalt Belt.
While it released no new news last week, earlier in February the company announced a rash of cost-cutting measures in response to market conditions, blaming cobalt oversupply from the Democratic Republic of Congo, and refined supply from China.
On the TSX last week, the company was up by 20.34 percent, trading at C$0.35 by Friday.
Phoenix-based Excelsior Mining is focused on pushing its Gunnison copper project through to production, with the company announcing it had all its ducks in a row in October last year thanks to a US$75-million financing deal.
Last week, the company released nothing new, but at the end of January it put out a mine construction progress report, where it said that first production was expected in Q4 of this year.
In Toronto last week, Excelsior was up by 18.52 percent, trading at C$0.96.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using 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.
Editorial Disclosure: eCobalt Solutions is a client of the Investing News Network. This article is not paid-for content.