The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending down early last Friday (July 2) at 15,581.71 during a short week for American traders.
As the US markets took the day off at the end of the week to observe Independence Day, all eyes were on the index, with light trading taking place.
In commodities, gold had a volatile week, but was holding above US$1,770 per ounce with futures settling above US$1,800. Copper also continued its upward trend, hovering around US$6,100 per tonne.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Ascot Resources (TSX:AOT)
- Midas Gold (TSX:MAX)
- Harte Gold (TSX:HRT)
- INV Metals (TSX:INV)
- Western Copper and Gold (TSX:WRN)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Ascot Resources
Ascot Resources is focused on restarting the past-producing historic Premier gold mine, once North America’s largest gold mine. It is located in BC’s Golden Triangle.
On June 25, the company announced its initial exploration program for 2020, focusing on four highly prospective exploration areas: Premier West, Silver Hill, Lost Valley and Woodbine. Last week, shares of Ascot Resources jumped 39.76 percent to end at C$1.16.
2. Midas Gold
Midas Gold, through its wholly owned subsidiaries, is focused on its Stibnite gold project. The company said last Thursday (July 2) that a draft environmental impact statement on Stibnite is set for release for public review in August.
As a result of the news, Midas Gold’s share price was up by 38.89 percent to reach C$0.75.
3. Harte Gold
Canada-focused Harte Gold is a gold producer that owns the Sugar Zone mine in White River, Ontario. The miner also holds the Stoughton-Abitibi property, located in the Timmins, Ontario, gold camp east of the Holt Holloway mine.
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Last Thursday, the company said it had entered into a binding term sheet with Appian Capital Advisory for up to C$30 million in financing to allow it to restart operations at its mine. Last week, Harte Gold’s share price jumped 33.33 percent to end at C$0.16.
4. INV Metals
INV Metals is focused on exploring and developing the Loma Larga gold property in Ecuador. Despite not releasing any news last week, INV’s share price increased 28.57 percent to C$0.90.
5. Western Copper and Gold
Western Copper and Gold is focused on developing its Casino project, located in Canada’s Yukon Territory. The company recently acquired the Canadian Creek project, which is adjacent to both the Casino project and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Coffee project.
Last week, shares of the company increased 27.27 percent to end at C$1.40.
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: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.
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