Resource News

Allana Potash took the top spot, and was followed by Troy Resources, Fission Uranium, Balmoral Resources and Paladin Energy.

The S&P/TSX Composite index (INDEXTSI:OSPTX) fell 57.38 points on Friday to close at 14,812.42. That’s its lowest close in the last two weeks, and overall the index lost 0.9 percent over the course of the week. 

That said, it wasn’t all bad news for the resource sector. Allana Potash (TSX:AAA) enjoyed a big gain, as did Troy Resources (TSX:TRY), Fission Uranium (TSX:FCU), Balmoral Resources (TSX:BAR) and Paladin Energy (TSX:PDN). Here’s a look at what moved their share prices this past week.

Allana Potash 

Allana Potash secured the top spot, gaining 31.94 percent for the week to close at $0.48. The company agreed to a deal this week that will see Israel Chemicals (ICL) pay $137 million to acquire the company.

“We believe that this transaction provides the best liquidity opportunity for shareholders and firmly validates the efforts of the last six years of development by the Allana team,” said Farhad Abasov, president and CEO of Allana.

Troy Resources

Troy Resources, a junior gold producer, saw a weekly increase of 13.33 percent to close at $0.51.The company announced on March 25 a change of interests regarding one of its substantial holders. Van Eck Associates now owns 7.79 percent of Troy Resources, a jump from 6.38 percent.

Fission Uranium

Fission Uranium closed out the week at $1.34, having seen a 9.84-percent increase over the last week. The Canada-based resource company on Wednesday released results from assay tests from hole PLS15-343 at the R600W zone at its PLS property in Canada’s Athabasca Basin. Assay testing is when a company determines the quality and ingredients of a metal or ore. Tests discovered high-grade, shallow-depth mineralization of triuranium octoxide, which is a compound of uranium.

“The R600W zone is emerging as an impressive high-grade zone and importantly, it is open in all directions,” said Ross McElroy, president, COO and chief geologist for Fission. “Encountering this grade and width 555m from the Triple R deposit is tremendously exciting and we are looking forward to receiving the assays from our follow up holes at the zone.

Balmoral Resources

Balmoral Resources saw a gain of 8.41 percent, closing the week at $1.16. Balmoral is a Canadian company that delineates and expands high-grade gold and nickel discoveries in Quebec. The company has released no news since February, when it appointed a new vice president.

Paladin Energy 

Paladin Energy climbed 7.04 percent this week to close at $0.38. The uranium-focused company this week announced the issuance of an additional $50 million of convertible bonds to China Investment (CIC).

“The investment by CIC provides Paladin with additional funding flexibility and bolsters our cash position thereby, further reducing the need for any additional funding in the medium term and enabling Paladin to fully capitalize on its strategic value,” said John Borshoff, CEO and managing director of Paladin.

 

Data for TSX Top 5 articles is retrieved each Friday and reported on Monday. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included.  

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(March 27, 2015)

5 Top TSX Stocks: Ivanhoe Mines Leaps Nearly 25 Percent

The S&P/TSX Composite index (INDEXTSI:OSPTX) closed Friday at 14,942.41, up 68.48 points. It’s been a strong week for commodities, particularly gold, silver and copper, and according to the Canadian Press, the index was able to record a 1.4-percent gain for the week as a whole.

A variety of companies also enjoyed success, with the top gainer being Ivanhoe Mines (TSX:IVN). It was followed by Corvus Gold (TSX:KOR), Teranga Gold (TSX:TGZ), Thompson Creek Metals Company (TSX:TCM) and Orbite Aluminae (TSX:ORT).

Ivanhoe Mines

Ivanhoe Mines took the top spot this week on the TSX, climbing 24.36 percent to reach $0.97. The company announced on March 3 that its exploration team received the 2015 Thayer Lindsley International Discovery Award for the Kamoa copper deposit in the Democratic Republic of the Congo. The annual award is presented by the Prospectors & Developers Association of Canada, and recognizes a recent significant discovery anywhere in the world.

“The largest major copper discovery in the DRC since the early 1900s, Kamoa represents the discovery of a previously unrecognized and richly endowed district within the Central African Copperbelt – geologically distinct, yet geographically next door to the well-known Kolwezi deposits. We have a strong belief that the Copperbelt in DRC holds the potential for additional world-scale discoveries,” said Robert Friedland, executive chairman of Ivanhoe Mines.

Corvus Gold 

Corvus Gold climbed to the second spot this week with a gain of 14.71 percent, ultimately hitting $0.78. The junior exploration and development company’s main focus is its 100-percent-owned gold discovery in Nevada: the North Bullfrog project.

The company hasn’t released any news since February, but Resource Investing News did have the chance to interview CEO Jeff Pontius at PDAC. Watch the video to find out about Corvus’ plans for 2015.

Teranga Gold

Canada-based Teranga Gold saw its share price increase this week by 14.04 percent, reaching $0.65. The company announced on March 16 that it has received environmental approval to continue with the development of its high-grade Gora project, which is not only its first satellite deposit, but also its first discovery on its large regional land package in Senegal.

“We are delighted to report that it is full steam ahead on the Gora project,” Richard Young, president and CEO of Teranga, said. “Work has begun on road construction from Sabodala to Gora and we expect to be processing ore from Gora through our mill by the fourth quarter. Gora is the first satellite deposit to be discovered on our regional land package, which is a key focus area of our three-phase growth plan in Senegal.”

Thompson Creek Metals Company

Thompson Creek Metals joined the top five list this week, climbing 12.66 percent to reach $1.78. The North American mining company directs most its focus to its wholly owned Mount Milligan mine in British Columbia.

In February, the company announced its 2014 year-end financial results, revealing yearly revenue of $807 million. The company had no new information to report this the week.

Orbite Aluminae

Orbite Aluminae made the top five for the second week in a row, gaining 12.5 percent to hit $0.41. The Canada-based mineral processing and resource development company announced the filing of a final short-form base shelf prospectus on March 20. It will allow the company increased financial flexibility to take advantage of financing opportunities.

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(March 20, 2015)

5 Top TSX Stocks: PolyMet and Orbite Up Over 20 Percent 

The S&P/TSX Composite index sank Friday by 39.22 points, hitting 14,731.5. The fall was reportedly driven by worries that the oil price still has further to drop. Overall, the index sank 221 points, or 1.5 percent, for the week.

That said, there were some bright spots to be found. The top gainer on the exchange was PolyMet Mining (TSX:POM), and it was followed closely by Orbite Aluminae (TSX:ORT). Other big gainers were EMED Mining Public (TSX:EMD), Western Potash (TSX:WPX) and Lithium Americas (TSX:LAC).

PolyMet Mining

PolyMet Mining took the top spot on the TSX this week, climbing 25.93 percent to reach $1.70. The company is focused on its copper-nickel-precious metals NorthMet project, which is located in Northeastern Minnesota’s Duluth Complex.

The company last released news at the beginning of February, when it entered into a $30-million loan facility with major miner Glencore (LSE:GLEN). “This loan facility covers our anticipated costs through 2015 as we work through completion of the final Environmental Impact Statement and subsequent issuance of permits needed to construct and operate NorthMet,” PolyMet President and CEO Jon Cherry said at the time.

Orbite Aluminae

Orbite Aluminae climbed to the second spot this week, closing at $0.36 after gaining 24.14 percent. The company announced on March 13 that it has received a notice of allowance for its red mud monetization patent.

Explaining the news, Orbite said that when alumina is obtained, a waste is created known as red mud; this waste is an environmental liability. However, the company has developed a method for turning the waste into feedstock, therefore generating a new stream of revenue.

“With more than 3 billion tonnes of red mud stored globally, two patents confirmed and more on the way, as well as the recently announced $4.5 [million] conditional grant from Sustainable Development Technologies Canada, Orbite is well positioned to pursue the commercial opportunity its groundbreaking waste monetization technology represents,” Glenn Kelly, CEO of Orbite, said in a press release.

EMED Mining Public

EMED Mining Public is a Europe-based minerals development and exploration company that rose 13.33 percent this week, reaching $0.09. The company has not put out news since last month, when it reported on progress at its Rio Tinto copper project near Seville, Spain. The company is focused on developing onsite operations before commencing mining operations in the third quarter of 2015.

“We are very pleased by the rapid progress being made in the development of onsite operations and at costs that are trending well below original estimates,” Alberto Lavandeira, EMED’s CEO, said in a press release. “The project is based in an extremely prospective region and we are pleased with the continued support from the Junta, the local communities and our existing shareholders as we work towards the start up of production.”

Western Potash

Western Potash saw a weekly gain of 9.52 percent to close the week at $0.23. The company, which is currently building a solution mine in Southern Saskatchewan, reported on its Annual and Special General Meeting at the beginning of March and said that shareholders approved all items the company recommended.

Lithium Americas 

Lithium Americas secured a spot in the top five for the second week in a row, climbing 5.26 percent for the week to reach $0.40. The company, which has the third-largest lithium brine resource in the world, has a property located at the Puna Plateau in Argentina. The area contains over 80 percent of the world’s lithium brine reserves.

The company has not released any news since January.

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(March 6, 2015)

5 Top TSX Stocks: Ur-Energy in the Lead 

This past week brought the 2015 PDAC International Convention, Trade Show & Investors Exchange, so many investors were likely paying closer attention to the market than usual.

Nevertheless, here’s a brief look at the five top stocks on the TSX this past week and what may have moved their share prices. Ur-Energy (TSX:URE) was first with a 17.27-percent share price rise. It was followed by Lithium Americas (TSX:LAC), Lydian International (TSX:LYD), Fission Uranium (TSX:FCU) and Amerigo Resources (TSX:ARG).

Ur-Energy

As mentioned, Ur-Energy took the top spot on the TSX this week, climbing 17.27 percent to hit $1.29. The junior uranium company, which operates the Lost-Creek in-situ recovery uranium facility in South-Central Wyoming, announced its 2014 year-end results this week. In its announcement, the company revealed it ended the year with a cash and cash equivalents balance of $3.1 million, and a gross profit of $11.5 million.

“The results from our first full year of production at our state-of-the-art Lost Creek Project place us among the top-ranking U.S. uranium producers,” Wayne Heili, the company’s president and CEO, said in a press release. “These accomplishments were achieved during a year which was defined by disappointing uranium spot market pricing and a depressed overall commodity market.”

Lithium Americas 

Lithium Americas, which holds the third-largest lithium brine resource in the world, took the second spot on the TSX this week with a gain of 16.92 percent, putting it at $0.38 for the week.

The company’s most recent announcement came in January, when it said that POSCO’s high-efficiency extraction demonstration plant, which is operating at Lithium Americas’ Cauchari salar in Argentina, has produced in excess of 6 tonnes of lithium since its formal inauguration on December 22, 2014. POSCO is a multinational steelmaking company that has developed an innovative lithium extraction technology that it believes has significant advantages compared to traditional lithium brine evaporation technology.

Lydian International 

Lydian International is an emerging gold developer that’s focused on its 100-percent-owned Amulsar gold project in Southern Armenia. The company saw a gain of 16 percent, closing this week at $0.58.

Production from Amulsar is expected to average 200,000 gold ounces per year. So far, the company’s exploration has identified a gold resource of 2.3 million ounces contained. Amulsar is planned to be a pit mine utilizing a completely conventional heap-leap and gold recovery process. Lydian has not released any news since February.

Fission Uranium

Fission Uranium hit $1.29, increasing 10.26 percent for the week. The Canada-based resource company is focused on the exploration and development of the Patterson Lake South uranium property, which holds the Triple R uranium deposit. The company announced the discovery of a new high-grade deposit at the R600W zone at that property this past Sunday.

“This is an absolutely tremendous result that gives us high grade mineralization over half a kilometer west of Triple R deposit, which is wide open in all directions,” Ross McElroy, president of Fission Uranium, said in a press release. “It immediately puts the R600W zone into an elite class, hosting significant high-grade uranium mineralization, similar to that seen in the Triple R deposit to the east.”

Amerigo Resources 

Amerigo took the last spot this week, climbing 9.38 percent to reach $0.35. Back in February, the copper- and molybdenum-producing company announced its 2014 financial results, which demonstrate revenue of $119.6 million. The company also generated $14.8 million in operating cash flow.

“We are pleased to announce that, despite challenging market conditions, in 2014 Amerigo once again recorded positive operating cash flow and continued to make progress on the expansion of the operations of MVC, the company’s operating subsidiary in Chile,” Dr. Klaus Zeitler, chairman and CEO of Amerigo, said in a press release.

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