5 Top TSX Stocks: NGEx Up 60.42 Percent on New Resource Estimate

Last Friday, the S&P TSX Composite index (INDEXTSI:OSPTX) fell 56.95 points, or 0.42 percent, to close at 13,368.24 points. To date, the index has sunk 8.6 percent; according to Reuters, it’s trailing “only … Singapore and Greece among developed markets.” 
Nevertheless, some resource-focused stocks saw share price gains last week. The top riser by a long shot was NGEx Resources (TSX:NGQ), and it was followed by Guyana Goldfields (TSX:GUY), Trevali Mining (TSX:TV), Yamana Gold (TSX:YRI,NYSE:AUY) and Ivanhoe Mines (TSX:IVN). Here’s a brief look at what moved their share prices last week.

NGEx Resources

Last week NGEx Resources saw its share price rise 60.42 percent to reach $0.77. On Monday, the company released an updated mineral resource estimate for its Argentina-based Filo del Sol silver–copper–gold deposit.
The total inferred resource for the project now sits at 381 million tonnes grading 0.39 percent copper, 0.33 g/t gold and 12 g/t silver for a copper equivalent grade of 0.69 percent. That comes to 3.3 billion pounds of copper, 4 million ounces of gold and 149.8 million ounces of silver.

Guyana Goldfields

Guyana Goldfields released no news last week, but nevertheless saw its share price rise 16.6 percent, to $2.95. The company, which achieved first production at its Aurora gold mine this past summer, last released its Q3 financial statements midway through November; it also gave a ramp up update for Aurora.

Trevali Mining

Zinc-focused base metals miner Trevali Mining enjoyed a share price rise of 13.11 percent last week to close at $0.35. However, like Guyana Goldfields, it released no news that would explain that increase. The company last put out its Q3 financial results and provided an update on commissioning at its Caribou zinc mine.

Yamana Gold

Yamana Gold, a Canadian gold producer, saw its share price rise 11.2 percent last week to end at $2.68. Last monday, the company announced that Brio Gold, its subsidiary, has started a private placement of common shares, with a primary offering from Brio and a secondary offering from Yamana.
The company said that “[t]he implied initial post-money valuation of Brio Gold based on the private placement is approximately $369.3 million,” and analysts have taken that as positive as it seems to place a higher value on Brio than was previously believed.

Ivanhoe Mines – 9.68 percent, $0.68

Finally, Robert Friedland-led Ivanhoe Mines rose 9.68 percent last week to reach $0.68. The company, whose key projects are Platreef, Kamoa and Kipushi, said last Monday that Zijin Mining Group (HKEX:2899,SSE:601899) has agreed to complete its investment in Kamoa, a copper project in the Democratic Republic of the Congo, on or before December 8, 2015.
Zijin agreed earlier this year to acquire a 49.5-percent stake in Kamoa Holding, a subsidiary of Ivanhoe that owns the Kamoa project, for aggregate consideration of US$412 million.
 
Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’smarket data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Trevali Mining is a client of the Investing News Network. This article is not paid-for content. 
Related reading: 
5 Top TSX Stocks: Big Gain for Lucara on Diamond Find
5 Top TSX Stocks: Rubicon Minerals Gains 32.35 Percent
5 Top TSX Stocks: PolyMet Mining Gains Over 30 Percent on Final EIS for NorthMet
5 Top TSX Stocks: Belo Sun Mining, Northern Dynasty See Top Gains
5 Top TSX Stocks: Diamond Stocks See Big Gains