TSX Top 5: Nautilus Minerals in First Place

- February 23rd, 2015

The markets were closed last Monday in the US and much of Canada, but that didn’t stop some companies from making impressive gains on the TSX. In first place was Nautilus Minerals with a 13.33-percent gain. It was followed by Paladin Energy, Thompson Creek Metals Company, Teranga Gold and Ur-Energy.

Good, better and best concept

The markets were closed last Monday in the US and much of Canada, but that didn’t stop some companies from making impressive gains on the TSX. 

In first place was Nautilus Minerals (TSX:NUS) with a 13.33-percent gain. It was followed by Paladin Energy (TSX:PDN,ASX:PDN), Thompson Creek Metals Company (TSX:TCM,NYSE:TC), Teranga Gold (TSX:TGZ,ASX:TGZ) and Ur-Energy (TSX:URE,NYSEMKT:URG).

Nautilus Minerals

Nautilus Minerals took the top spot on the TSX last week, climbing 13.33 percent to reach $0.51. That is the second week in a row that the company has been included in the top five lineup — it closed at $0.45 the week before last.

Nautilus Minerals is the first company to explore the ocean floor for polymetallic seafloor massive sulfide deposits. Though it did not release any news last week, the company announced on February 23 that commissioning and factory acceptance testing of its third and final seafloor production tool (SPT) have begun at Soil Machine Dynamics’ facility at Newcastle.

“We are very excited that the commissioning of the final of the three SPTs has begun,” Mike Johnston, Nautilus CEO, said. “With the Bulk Cutter and the Collecting machine having already begun Factory Acceptance Testing and now with the Auxiliary Cutter underway, we are on track to complete this testing phase and take delivery of the three SPTs in Q4 2015.”

Paladin Energy 

Paladin Energy is a uranium production company with projects in Australia and two mines in Africa. The company has a strategy in place to become a major uranium mining house. Paladin rose 8.45 percent to close at $0.39 for the week.

The company said on February 13 that it has successfully raised US$100 million through convertible bonds.

“[T]he successful completion of this raising along with the concurrent tender offer for the 2015 CBs eliminates all of the near term refinancing risk and both reduces and extends the company’s debt maturity profile,” John Borshoff, Paladin’s managing director and CEO, said. “This significant de-risking of the balance sheet, along with the expected recovery in uranium prices, ensures Paladin remains well positioned to capitalize on its unique standing in the uranium market.”

Thompson Creek Metals Company

Thompson Creek Metals saw an increase of 7.49 percent last week, closing at $2.01. The North American diversified mining company has reserves in copper, gold and molybdenum, with locations in the US and Canada.

On February 19, Thompson Creek announced strong financial results from 2014, with total cash as of December 31, 2014 reaching $265.6 million, compared to $233.9 million at that time in 2013. “We’ve achieved very good operational and financial performance in 2014 and ended the year with a strong cash position,” Jacques Perron, president and CEO of Thompson Creek, said.

Teranga Gold

Teranga Gold increased 7.02 percent to hit $0.61 last week. The Canada-based gold company has exploration and mine development projects in Senegal, West Africa.

Last week, Teranga released its financial results for Q4 2014, as well as 2014 as a whole, noting that it achieved record free cash flow of $39.1 million for 2014. More recently, the company provided an update on its 2015 exploration efforts.

Ur-Energy

Ur-Energy, a junior miner that operates an in-situ recovery uranium facility in South-Central Wyoming, hit $1.15 last week, climbing 4.55 percent. The Lost Creek processing facility will ultimately have a 2-million-pound-per-year nameplate capacity.

The company did not put out any news last week, but recently announced the completion of a preliminary economic assessment for its Shirley Basin project in Carbon County, Wyoming.

 

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.

Related reading: 

TSX Top 5: MagIndustries in the Lead After News of Potential Investment

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