5 Top Weekly TSX Performers: Avalon Advanced Materials Up on Lithium Refinery Agreement

Last week's top-gaining stocks on the TSX were Avalon Advanced Materials, Augusta Gold, Kolibri Global, Pine Cliff and i3 Energy.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,890.56 early last Friday (April 8).

The index was higher on the back of gains in energy and materials stocks. Even though it incurred a weekly loss, finishing at 21,868.78, the TSX is up more than 3 percent year-to-date.

Looking over to metals, palladium rose about 11 percent on Friday as concerns over supply increased after the London Platinum and Palladium Market said it will block Russian refineries from selling the metal in the London market. The move is another measure against Russia due to the war in Ukraine.

Gold and silver were also on the rise on Friday, both heading for weekly gains despite a strong US dollar.

Last week, a number of companies saw their share prices increase. The five TSX-listed mining stocks that saw the biggest gains are as follows:

Avalon Advanced Materials (TSX:AVL)
Augusta Gold (TSX:G)
Kolibri Global (TSX:KEI)
Pine Cliff Energy (TSX:PNE)
I3 Energy (TSX:ITE)

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

1. Avalon Advanced Materials

Toronto-based Avalon Advanced Materials has five projects across Canada focused on critical metals, including lithium, rare earths, cesium, tantalum, feldspars, tin and indium. Avalon is currently focusing on its Separation Rapids lithium project near Kenora, Ontario, and its Lilypad cesium-tantalum project near Fort Hope, Ontario.

Last Monday (April 4), the company signed a partnership agreement with RenJoules International to establish a lithium battery materials refinery in Thunder Bay, Ontario. The deal involves providing initial financial and development support for the refinery, which will process lithium from Avalon, as well as other aspiring new producers in Ontario. Last week, Avalon’s share price jumped 45.76 percent to end the week at C$0.21.

2. Augusta Gold

Explorer and developer Augusta Gold is focused on its Bullfrog gold project, which is located in the Bullfrog mining district, approximately 120 miles northwest of Las Vegas, Nevada, and 4 miles west of Beatty, Nevada.

The company did not release any news last week, but saw its share price increase 40.52 percent to C$1.63.

3. Kolibri Global Energy

Kolibri Global Energy is an international energy company focused on finding and exploiting projects in oil and gas, as well as clean and sustainable energy. It owns and operates properties in the US via various subsidiaries.

Last Tuesday (April 5), the company started completion operations on the Barnes 8-4H well in its Tishomingo field in Oklahoma, US. Shares of Kolibri Global increased 27.08 percent to trade at C$0.30 by the end of the week.

4. Pine Cliff Energy

Pine Cliff Energy is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Since 2012, the company has completed nine acquisitions, building three major operating core areas: Central assets, Edson assets and Southern assets.

Although it hasn't released any news in the last week, during the five day period the company’s share price jumped 26.61 percent to end at C$1.57.

5. I3 Energy

I3 Energy is an oil and gas company with a low-cost, diversified, growing production base in the Western Canadian Sedimentary Basin; it also has appraisal assets in the North Sea with significant upside.

Last Monday, the company said it had achieved record corporate production; it also published reserves for its subsidiary i3 Canada. Shares of I3 Energy increased 26.39 percent last week to hit C$0.45.

Data for 5 Top Weekly TSX 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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