Perseus Mining put out three press releases this past week, and investors definitely reacted well to them. Other top gainers on the TSX were Energy Fuels, Western Copper and Gold, Ur-Energy and Uranerz Energy.
The S&P/TSX Composite index (INDEXTSI:OSPTX) gained 15.95 points on Friday to close the week at 15,408.33. The Canadian Press notes that though commodities prices advanced Thursday, they failed to gain traction on Friday.
Even with that mixed performance, some TSX-listed companies recorded sizable gains over the course of the week. Leading the way was Perseus Mining (TSX:PRU,ASX:PRU) with a gain of 30.19 percent. It was followed by Energy Fuels (TSX:EFR), Western Copper and Gold (TSX:WRN), Ur-Energy (TSX:URE) and Uranerz Energy (TSX:URZ). Here’s a look at what moved their share prices this past week.
Dual-listed Perseus Mining took the top spot on the TSX this week, gaining 30.19 percent to reach $0.35. The company is focused on underexplored gold belts in West Africa and is a producer of the yellow metal.
Perseus released a slew of news this week, putting out an updated life-of-mine plan for its Edikan mine, a revised feasibility study for its Sissingue gold mine and a quarterly activities report for the March 2015 quarter. Considering the challenges the company was facing last year, it’s no surprise that investors were glad to see so much positive news released.
Energy Fuels took the second spot in this week’s top five, gaining 22.12 percent to close at $6.46. The company is a producer of uranium and vanadium, as well as the owner of the only operational conventional uranium mill in the US. At the beginning of April, the company announced that the US District Court for the District of Arizona denied a challenge by non-governmental organizations and a Native American tribe to prevent the company’s ability to operate its Canyon mine.
“We are pleased that the federal court rejected the plaintiffs’ challenges to the Canyons mine, which allows us to continue our development of this high-grade deposit,” said Stephen P. Antony, president and CEO of Energy Fuels. “In rejecting all of the plaintiffs’ claims, Judge Campbell noted that the government engaged in extensive environmental analysis and consultations regarding this project.”
Energy Fuels is one of three uranium companies on this week’s top five list, and it’s possible that it and the others were pushed up by the news that a Japanese court has rejected a legal bid to block the reopening of the Sendai nuclear station.
Western Copper and Gold
Western Copper and Gold gained 21.57 percent to reach $0.62 for the week. The company is focused on its billion-tonne Casino project in Canada’s Yukon Territory. Most recently, the company announced its 2014 results and provided an update on Casino.
Ur-Energy is junior mining company operating the Lost Creek in-situ recovery uranium facility in Wyoming. This week the company gained 16.82 percent to close at $1.25. Recently, the company revealed its operational results for Q1 2015. It was the sixth straight quarter in a row where Lost Creek met its contractual commitments in sales.
Uranerz Energy finished out the top five list this week, increasing 16.79 percent to close the week at $1.53. The company is a US uranium miner with in-situ recovery production and is set to consolidate with Energy Fuels to reduce overhead and promote more cost-efficient production methods.
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.
Editorial Disclosure: Energy Fuels and Western Copper and Gold are clients of the Investing News Network. This article is not paid-for content.