5 Top Weekly TSX Performers: Karnalyte Up as Potash Prices Continue to Rally

1. Avalon Advanced Materials

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

On March 17, the Ontario government unveiled a critical minerals strategy geared at supporting a made-in-Ontario electric vehicle supply chain. Avalon expects to give an update on its own plans on March 30; shares of the company increased 59.09 percent last week to trade at C$0.17.

2. Karnalyte Resources

With potash prices on the rise, it comes as no surprise that potash development company Karnalyte Resources made the list last week. The company's Wynyard potash project is ready for construction, and Karnalyte is working on financing and building for Phase 1. It is aiming to construct a 2.125 million tonne per year potash solution-mining facility using a three phase modular approach.

Last week, the Saskatoon-headquartered company saw its share price increase 35.23 percent to hit C$1.19.

3. Petrus Resources

Energy company Petrus Resources' exploration and exploitation activities are centered on Alberta, where it has a portfolio of oil and gas development assets. The company operates in three main areas, which are Ferrier, Central Alberta and the Rocky Mountain foothills.

Over the five day period, shares of Petrus Resources increased 27.74 percent to end last week at C$1.98.

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 tonnes per year.

In addition to Thacker Pass, Lithium Americas, together with Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772,SZSE:002460), is developing the Caucharí-Olaroz project, located in Jujuy, Argentina. The company also recently finalized its acquisition of Millennial Lithium and its flagship lithium brine project, Pastos Grandes, in Salta, Argentina.

Following the release of its fourth quarter and full-year 2021 results on March 17, Lithium Americas saw its share price increase 24.74 percent over last week's five day period to hit C$43.61.

5. Anglo Pacific Group

Anglo Pacific Group is a royalty and streaming company interested in offering exposure to commodities associated with decarbonization. It has exposure primarily to cobalt and base metals, as well as coking coal and iron.

Last week, shares of Anglo Pacific increased 22.14 percent to trade at C$3.20.