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Ivernia was last week’s top gainer on the Toronto Stock Exchange. However, it was followed fairly closely by General Moly and Heron Resources, with Aureus Mining and Troy Resources bringing up the rear.
Last week was another abbreviated period for the Toronto Stock Exchange due to the new year, but some companies nevertheless managed to post impressive gains.
Leading the way was Ivernia (TSX:IVW), which was followed fairly closely by General Moly (TSX:GMO) and Heron Resources (TSX:HER). Bringing up the rear were Aureus Mining (TSX:AUE) and Troy Resources (TSX:TRY).
Here’s a look at what moved their share prices last week.
Ivernia
Coming in as the week’s top gainer, base metals miner Ivernia rose 85.71 percent to trade at $0.07.
In its latest news release, put out on December 23, the company said it will meet production and sales targets, but noted that the price of lead will significantly impact its finances and business operations. As a result, Ivernia has appointed a committee to review its operations and costs.
General Moly
Molybdenum company General Moly announced last week that it has completed a private placement for gross proceeds of $8.535 million. The funds will be used to maintain the company’s Mt. Hope and Liberty molybdenum projects in the US, among other business purposes. Last week, the company gained 62.22 percent to trade at $0.73.
“The financing provides the company with a bridge to a project financing for Mt. Hope while minimizing the dilution to our shareholders,” General Moly CEO Bruce D. Hansen said in a release. “The private placement included one $5 million block purchased by an investor with significant experience in the molybdenum sector, and General Moly’s executive management team and board of directors which invested over $2 million in aggregate.”
Heron Resources
Base and precious metals exploration and development company Heron Resources gained 61.11 percent last week to trade at $0.15. On December 22, the company reported high-grade assays and new massive sulfide intercepts from its Woodlawn zinc–copper project in New South Wales. These results will form part of a preliminary economic assessment for the project.
Aureus Mining
Aureus Mining, a Liberian gold company, put out no news last week; however, word is that on December 29, private investor Richard Griffiths increased his stake in the company from 6 to 13.3 percent. As a result, the company rose 38.89 percent and ended last week at $0.38.
Troy Resources
Junior gold producer Troy Resources, which operates in Brazil and Argentina, also had no news to report last week, though a positive article published on Seeking Alpha may have played a role in its rise. Troy Resources jumped 24.32 percent to trade at $0.46.
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