5 Top TSX Stocks: Corvus Gold Up 12.5 Percent on Vein System Discovery

The S&P/TSX Composite index (INDEXTSI:OSPTX) ended Friday up 132.58 points, or 0.93 percent, at 14,411.07 points. However, it fell 1.8 percent over the week as a whole. 
According to Reuters, Friday’s gain came as investors’ concerns about the Greek debt crisis lessened. Worries about the Chinese market also decreased as stocks there “gained strongly for a second straight session” after slumping badly towards the beginning of the week.
The top gainer was Corvus Gold (TSX:KOR), and it was followed by AZ Mining (TSX:AZ), PolyMet Mining (TSX:POM,NYSEMKT:PLM), Trevali Mining (TSX:TV) and US Geothermal (TSX:GTH,NYSEMKT:HTM). Here’s a look at what moved the share prices of those companies last week.

Corvus Gold

Junior exploration and development company Corvus Gold gained 12.5 percent last week to hit $0.72. It intersected a new vein system at the Sierra Blanca North target, located at its Nevada-based North Bullfrog project, on July 9.
Speaking positively about the discovery, Jeff Pontius, CEO of Corvus, commented, “[t]he results from these initial drill holes are highly encouraging as they point to potential to expand the high-grade mill resource already within the greater Sierra Blanca/YellowJacket WhittleTH pit. This also highlights the potential of the overall Sierra Blanca disseminated deposit to host several more of these steeply dipping feeder vein systems when effectively drilled with angle holes to augment the prior vertical drilling.”

AZ Mining

Canada’s AZ Mining, formerly Wildcat Silver, is focused on the development of the Arizona-based Hermosa project, in which it holds an 80-percent stake. The project has two different areas: Hermosa North West, which is a zinc–lead–silver carbonate replacement zone sulfide mineral exploration project, and Hermosa Central, a silver-manganese manto oxide development project.
The company has been quiet lately, most recently announcing its AGM results on June 30. Its share price gained 11.43 percent last week to hit $0.39.

PolyMet Mining

PolyMet is focused on developing the NorthMet copper–nickel-precious metals project, located in Northeastern Minnesota. Its share price gained 5.3 percent last week to reach $1.39.
Like AZ Mining, PolyMet released no news last week that would explain its share price increase. The company’s most recent news came on June 22, when it received notice that a preliminary final environmental impact statement has been completed for NorthMet; it is now undergoing review by the Co-lead and Cooperating Agencies.

Trevali Mining

Zinc-focused base metals miner Trevali Mining is an analyst favorite, and last week its share price increased by 3.49 percent to hit $0.89.
On July 7, Trevali provided a mine and mill commissioning update for its New Brunswick-based Caribou zinc mine, noting that “significant progress has been achieved” since mill commissioning began in late May. The next day, the company released preliminary Q2 production results, stating that it produced 13.7 million payable pounds of zinc, 8.7 million payable pounds of lead and 290,225 payable ounces of silver at its Santander mine in Peru during the period.

US Geothermal

Finally, the share price of renewable energy company US Geothermal rose 1.59 percent last week to reach $0.64. US Geothermal is focused on the development, production and sale of electricity from geothermal energy, and has projects in Oregon, Nevada and Idaho.
The company has not released news since May, when it put out its results for the first quarter of 2015 and confirmed its 2015 guidance.
 
Data for TSX Top 5 articles is retrieved each Friday after market close. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Corvus Gold and Trevali Mining are clients of the Investing News Network. This article is not paid-for content. 
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