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The top gainers on the TSX last week were New Millenium Iron, Mega Uranium, Renaissance Gold and Wildcat Silver. Here’s a look at those companies and what news — if any — boosted them last week.
The last TSX top stocks instalment saw uranium companies take the lead, but this past week the exchange’s top gainers were more diverse.
Specifically, the winners were New Millennium Iron (TSX:NML), Mega Uranium (TSX:MGA), Renaissance Gold (TSX:REN) and Wildcat Silver (TSX:WS). Here’s a look at those companies and what news — if any — boosted them last week.
New Millennium Iron
New Millennium Iron is an iron ore producer through its investment with partner Tata Steel (BSE:500470) in the Direct Shipping Ore (DSO) project in Canada’s Millennium Iron Range.
The company gained 42.11 percent last week to close at $0.27. The gain isn’t surprising given New Millennium’s busy news week — it put out its Q3 financial results and announced the commencement of rail haulage on Genesee & Wyoming’s (NYSE:GWR) new KeRail spur line.
Speaking about the rail haulage announcement, President and CEO Robert Patzelt said, “[t]he completion and commissioning of the KéRail spur line will enable the completion of TSMC’s state-of-the art DSO Project. The spur provides logistical efficiencies and cost benefits to the DSO Project, and we are pleased that the trial cargo program begun in 2013 is continuing this year.”
Mega Uranium (TSX:MGA)
Operating in Australia, Canada and Cameroon, Mega Uranium gained 36.11 percent last week to trade at $0.25. The company has not recently released news, though its gains may have been due to recent positive developments in the uranium industry.
Renaissance Gold
Exploration company Renaissance Gold is based in Nevada and is using a joint venture model to develop its portfolio of properties. Last week, the company’s stock rose 32.69 percent, hitting $0.35.
On November 14, the company released its 2015 first-quarter results, revealing its performance for the three months ended September 30. This information shows that the company’s total assets were $3,290,804 as of that date, while its cash came to $2,405,332. Renaissance Gold experienced a consolidated net loss of $550,184 during the quarter.
Wildcat Silver
Wildcat Silver, which is working primarily on its Hermosa silver–manganese project in Arizona, gained 27.14 percent last week to trade at $0.45. The company has not released any news since August.
Related reading:
TSX Top 5: Uranium Companies Take the Lead
Uranium Price Jumps Most in 16 Months; Japan Approves Reactors