5 Top Weekly TSX Performers: Assay Results Send Xtra-Gold Higher

Last week's top-gaining stocks on the TSX were Xtra-Gold, SouthGobi, Novo Resources, Lithium Americas and Questerre Energy.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 19,030.09 early last Friday (June 24) morning. The index was on the rebound, and managed to close the week up at 19,061.98.

Looking over to the commodities sector, oil prices were on the rise by the end of the week, while gold and silver were on track for weekly declines.

"Our expectation is that prices do rise beyond September, October," Jeffrey Christian of CPM Group told the Investing News Network at this year’s Prospectors and Developers Association of Canada convention.

"Initially modestly, and then possibly stronger later." However, he reminded market participants to keep their expectations realistic and remember what purpose precious metals serve in a portfolio.

Last week, a number of companies saw share price rises, with precious metals, energy and battery metals stocks making the top performers list. The five TSX-listed mining stocks that saw the biggest gains are as follows:

Xtra-Gold Resources (TSX:XTG)
SouthGobi Resources (TSX:SGQ)
Novo Resources (TSX:NVO)
Lithium Americas (TSX:LAC)
Questerre Energy (TSX:QEC)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Xtra-Gold Resources

Explorer Xtra-Gold Resources has a large land position in the Kibi Gold Belt. In total, the company has five mining leases covering about 226 square kilometers at the belt's northern extremity.

Last Thursday (June 23), the company published fresh assay results from a drill program at its Kibi gold project. As a result of the news, the company saw its share price increase 22.34 percent to hit C$1.15.

2. SouthGobi Resources

Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of China-Mongolia border. Aside from that, the company has mining and exploration licenses for other metallurgical and thermal coal deposits in Mongolia's South Gobi province.

During the five day period, SouthGobi Resources’ share price jumped 11.11 percent to end at C$0.20.

3. Novo Resources

Novo Resources has centered its efforts on Western Australia's Pilbara region, where it operates its flagship Beatons Creek gold project. Its prospective land package covers around 11,000 square kilometers in the area.

Last Tuesday (June 21), Novo reported assay results completed as part of a diamond drill program at its Malmsbury project. Shares of Novo increased 10.87 percent last week to trade at C$0.51.

4. Lithium Americas

Lithium Americas owns the Thacker Pass lithium claystone project in Nevada, US. With an initial Phase 1 capital cost of US$581 million, the project will have an annual production capacity of 60,000 metric tons per year.

In addition to Thacker Pass, Lithium Americas, together with Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460), is developing the Caucharí-Olaroz project, located in Jujuy, Argentina. The company is also advancing its Pastos Grandes lithium brine project in Salta, Argentina.

During the five day period, Lithium Americas’ share price jumped 7.05 percent to end the week at C$27.94.

5. Questerre Energy

Last but not least on this week’s top TSX performers list is Questerre Energy, a company focused on all stages of acquisition, exploration and development for oil and gas projects. In Canada, the company has assets in Alberta, Saskatchewan, Manitoba and Quebec; it also has projects in the Kingdom of Jordan.

Last week, shares of Questerre increased 6.98 percent and were trading at C$0.23 by the end of the week.

Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday at 10:30 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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Priscila Barrera

Managing Editor, Resource

Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.

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