The
S&P/TSX Composite Index
(INDEXTSI:
OSPTX
) opened higher last Friday (October 15), trading at 20,863.54 by midday. The index closed the period at 20,927.11.
It was on track for its best weekly performance since March, receiving a boost from
energy
stocks.
On Friday,
gold
and
silver
fell as US bond yields rebounded, although a weaker US dollar limited losses.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
-
Nevada Copper (TSX:
NCU
) -
Black Iron (TSX:
BKI
) -
Belo Sun Mining (TSX:
BSX
) -
Fission Uranium (TSX:FCU)
-
Mandalay Resources (TSX:
MND
)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Nevada Copper
Nevada Copper’s flagship Pumpkin Hollow copper project is located in Nevada, US. Pumpkin Hollow has substantial reserves and
resources
, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open-pit project, which is advancing towards
feasibility
status.
Last Tuesday (October 12), the company
entered into an agreement
with its senior project lender and announced a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. This will provide substantially greater balance sheet flexibility and support for the completion of the ramp up of its underground mining operations and subsequent advancement of its open-pit project and broader property exploration targets.
Last week, shares of Nevada Copper increased 43.21 percent to trade at C$1.16.
2. Black Iron
Toronto-based Black Iron is focused on advancing its 100 percent owned Shymanivske project, located in Krivyi Rih, Ukraine, to production. The project is surrounded by five other operating mines, including Metinvest’s YuGOK and ArcelorMittal’s (NYSE:
MT
)
iron
ore complex.
Black Iron did not release any news last week, but its shares increased 38 percent to end at C$0.34.
3. Belo Sun Mining
Canadian gold explorer Belo Sun Mining is currently focused on developing its Volta Grande gold project. Located in Brazil, the project underwent a complete feasibility study in March 2015.
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Over the five day period, shares of Belo Sun increased 37.37 percent to end the week at C$0.68.
4. Fission Uranium
Fission Uranium is a resource company specializing in the strategic exploration and development of the Patterson Lake South
uranium
property in Canada’s Athabasca Basin. The company is now focused on advancing the project to feasibility and on towards construction.
Last week, Fission Uranium saw its share price increase 31.33 percent to hit C$1.09.
5. Mandalay Resources
Mandalay Resources has producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The company is focused on growing production at its gold and antimony Costerfield operation in Australia and gold production from its Björkdal asset in Sweden.
Last Tuesday, the company
announced the sale
of the Cerro Bayo mine to Equus Mining (ASX:
EQE
). Shares of Mandalay increased 28.72 percent, and were trading at C$2.51 by the end of the week.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fission Uranium is a client of the Investing News Network. This article is not paid-for content.
What Caused This Sharp Rebound? More Importantly, Can You Afford To Miss Out?
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