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The top gainer listed on the TSX this week was Royal Nickel. It was followed by Champion Iron, Silver Bull Resources, Treasury Metals and Western Potash.
On Friday, the S&P/TSX Composite index (INDEXTSI:OSPTX) fell 0.6 percent, or 89.41 points, to close at 14,808.09 points. According to Reuters, the index saw a 1.1-percent rise this week after falling for four weeks in a row.
The top gainer listed on the TSX this week was Royal Nickel (TSX:RNX,OTCMKTS:RNKLF). It was followed by Champion Iron Mines (TSX:CIA), Silver Bull Resources (TSX:SVB,NYSEMKT:SVBL), Treasury Metals (TSX:TML,OTCMKTS:TSRMF) and Western Potash (TSX:WPX).
Here’s a look at what moved those companies’ share prices this week.
Royal Nickel
Royal Nickel took the top spot this week on the TSX after climbing 46.3 percent to reach $0.40. The company is advancing the Quebec-based Dumont nickel project, and this week announced that it’s received a received a Certificate of Authorization from the Quebec Ministry of Sustainable Development, Environment and the Fight Against Climate Change. That is the most significant permit for mining projects in Quebec, and receiving it means Dumont will be able to proceed to construction after completing financing.
“The Quebec government’s permitting process is thorough and inclusive of all concerned parties,” Mark Selby, president and CEO of Royal Nickel, said in a press release. “I am confident that the information exchanges amongst the various stakeholders throughout this process, along with RNC’s substantial community engagement effort and commitment, have made Dumont a stronger, more robust project.”
Champion Iron Mines
Champion Iron took the second spot this week, gaining 26.67 percent to reach $0.10. The iron ore exploration and development company has properties in the southern end of Canada’s Labrador Trough. It released no news this week that would explain the rise in its share price.
Silver Bull Resources
Vancouver-based Silver Bull Resources joined the list of gainers this week after its share price rose 23.81 percent to reach $0.13. The exploration company’s flagship project, Sierra Mojada, is located in Northern Mexico, and is highly prospective for silver and zinc.
Silver Bull did not release any news this week, but last week identified new high-grade massive sulfide mineralization at Sierra Mojada.
Treasury Metals
Treasury Metals saw a weekly increase of 19.57 percent to reach $0.55. The company’s main focus is its Goliath gold project, which it expects to become one of Canada’s next producing gold mines.
Like Champion Iron and Silver Bull, the company released no news this week to account for the increase in its share price.
Western Potash
Western Potash took the final spot on the list this week, gaining 19.05 percent to reach $0.25. The development-stage potash company is focused on building a solution mine at its Milestone property in Southern Saskatchewan. Western Potash intends to develop Milestone in an ecologically sustainable, economically efficient and socially responsible manner.
The company also released no news this week that would explain the rise in its share price.
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.
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