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Many of the top gainers on the TSX last week were gold companies, in line with the good performance of the metal over the course of the week. The leader was Troy Resources with a gain of over 30 percent.
Many of the top gainers on the TSX last week were gold companies, in line with the metal’s good performance over the course of the week.
There were many factors that contributed to the rise of gold, including economic issues globally and the continued fall of the price of oil. They led investors to seek safe havens like precious metals. The gold companies below felt the effects of this development. Other gainers mentioned below are focused on uranium, which continues to do well.
Troy Resources (TSX:TRY)
Top gainer Troy Resources, a gold producer operating in Brazil, Argentina and Guyana, gained 32.08 percent to trade at $0.70. The company reached a milestone last week when it was awarded an environmental permit for its Karouni gold project in Guyana. Gold’s positive price action also contributed to Troy’s uptick.
Perseus Mining (TSX:PRU)
Gold producer Perseus Mining, which operates the Edikan gold mine in Ghana, gained 28.3 percent to trade at $0.34. It too had nothing to report in terms of news, but the well-performing price of gold was almost certainly a factor in the company’s own rise over the course of the week. In its recent 2014 report, Perseus disclosed that it produced 180,519 ounces of gold in the 12 months leading up to June 30, 2014.
Fission Uranium (TSX:FCU)
Fission Uranium recently announced the results of a resource estimate for two zones at its Patterson Lake South property in Northern Saskatchewan. A resource estimate has indicated that the deposit, known as Triple R, could contain more than 79 million pounds of U3O8, based on 2.29 million tonnes of ore at an average grade of 1.58 percent. Fission will continue to explore this property in 2015 through a series of large drilling programs. The company gained 16.83 percent to trade at $1.18.
Pilot Gold (TSX:PLG)
Exploration and discovery company Pilot Gold gained 14.14 percent last week to trade at $1.13. While the company has not recently released news, activity at its Kinsley, TV Tower, Halilaga and other projects continues apace, generating periodic updates of interest to potential investors. Furthermore, gold’s good week may have boosted the share prices.
Dalradian Resources (TSX:DNA)
Dalradian Resources, focused on advancing its Curraghinalt gold deposit in Northern Ireland, had no news to report this week. However, it continues to release more information about the promising Curraghinalt deposit, and likely gained traction from last week’s gold prices. Dalradian gained 12.99 percent to trade at $0.87.