The Conversation (0)
Claude Resources was the top-gaining resource stock on the TSX in 2015. Other gainers were Sabina Gold and Silver, Banro, St Andrew Goldfields and NovaGold Resources.
2015 was undeniably a tough year for the resource space, but that doesn’t mean some companies weren’t able to do well — in fact, some were able to post impressive gains.
Below, the Investing News Network has compiled a list of the top-gaining resource stocks on the TSX in 2015. Claude Resources (TSX:CRJ) saw the biggest increase in share price, and it was followed by Sabina Gold and Silver (TSX:SBB), Banro (TSX:BAA,NYSEMKT:BAA), St Andrew Goldfields (TSX:SAS) and NovaGold Resources (TSX:NG,NYSEMKT:NG). Here’s a brief overview of those companies.
1. Claude Resources
As mentioned, Claude Resources was the top-gaining resource stock on the TSX in 2015, with an impressive yearly increase of 147.62 percent. The company’s assets are located entirely in Canada, and since 1991 it’s produced more than 1 million ounces of gold at its Saskatchewan-based Seabee gold operation; Claude also owns the Amisk gold project in the same province.
All in all, 2015 seems to have been business as usual for Claude. The company was able to increase its 2015 production guidance to between 70,000 to 75,000 ounces of gold, and also completed some exploration work.
2. Sabina Gold and Silver
In second place is Sabina Gold and Silver, which gained 105.63 percent in 2015. The company is on the path to becoming a mid-tier gold producer, and has a portfolio of Canadian assets at different stages of development; its flagship projects are in Nunavut.
Sabina saw most of its gains during Q3, after the release of the initial project feasibility study for its Back River gold project. The release of that study was followed, among other things, by drill results from Back River and a $2.2-million financing.
3. Banro
Banro was another big gainer on the TSX in 2015, rising 86.67 percent over the course of the year. The company has two producing gold mines, as well as two gold exploration projects in the Democratic Republic of the Congo. Its consolidated production guidance for 2015 is set at 175,000 to 195,000 ounces of gold; most recently, the company set up a US$98.75-million financing that’s expected to close in January 2016.
4. St Andrew Goldfields
St Andrew Goldfields has an extensive land package in Ontario’s Timmins mining district, and operates the Holt, Holloway and Hislop mines. It gained 72 percent in 2015, with the bulk of that increase coming in the second half of the year.
Notably, on November 16, the company entered into a binding definitive agreement that will see Kirkland Lake Gold (TSX:KGI,LSE:KGI) acquire all of its outstanding common shares. The combined entity will be a multi-asset intermediate gold producer focused on Ontario.
5. NovaGold Resources
Finally, NovaGold Resources gained 70.38 percent in 2015 to take the fifth spot on this list. The company has enough money to take its 50-percent-owned Donlin gold project through the permitting process, and believes that its Galore Creek project, also 50-percent owned, has the potential to be Canada’s largest and lowest-cost copper mine. Most recently, NovaGold filed the draft environmental impact statement for Donlin.
The data for this article was retrieved after market close on December 31, 2015 using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million were included. Companies within the mining and precious metals sectors were considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Related reading:
10 Top TSX Stocks of 2014