The
S&P/TSX Composite Index
(INDEXTSI:
OSPTX
) opened higher last Friday (August 13), trading at 20,557.34. It closed the five day period at 20,515.38.
The index was on track to hit its fourth consecutive weekly gain, receiving a boost from mining stocks on the last day of trading.
On Friday,
gold
and
silver
were headed for a weekly loss as uncertainties over the US Federal Reserve’s stimulus program plans
put pressure on prices
.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
-
Lithium Americas (TSX:
LAC
) -
Belo Sun Mining (TSX:
BSX
) -
Kolibri Global Energy (TSX:
KEI
) -
Orocobre (TSX:
ORL
) -
Nickel Creek Platinum (TSX:
NCP
)
Here’s a look at those companies and the factors that moved their share prices last week.
1. 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 output capacity of 60,000 tonnes per annum (tpa).
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 in Jujuy, Argentina.
Construction activities
at Caucharí-Olaroz remain on track to achieve first production by mid-2022.
Last week, the company saw its share price increase 35.41 percent to C$23.90.
2. Belo Sun Mining
Canadian gold explorer Belo Sun Mining is focused on developing its Volta Grande project. Located in Brazil, the project has undergone a complete
feasibility study
, which was finished in March 2015.
The company did not release any news last week, but Belo Sun’s share price jumped 27.66 percent to end the period at C$0.60.
3. Kolibri Global Energy
Kolibri Global Energy is an international
energy
company focused on finding and exploiting energy projects in
oil
,
gas
and clean and sustainable energy. Through various subsidiaries, the company owns and operates energy properties in the US.
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Over the five day period, the company’s share price jumped 21.43 percent to end the week at C$0.085.
4. Orocobre
Argentina-focused Orocobre is an industrial chemicals and minerals company operating a portfolio of lithium,
potash
and boron projects and facilities in the Puna region of Northern Argentina.
The company has built, in partnership with Toyota Tsusho (TSE:
8015
) and the investment division of the Jujuy provincial government, the first large-scale, greenfield brine-based lithium project in approximately 20 years at the Salar de Olaroz, with planned production of 42,500 tpa of low-cost
lithium carbonate
.
Additionally, Orocobre and Toyota Tsusho have commenced construction of a 10,000 tpa lithium hydroxide plant in Naraha, Japan. In 2021, Orocobre made news headlines after it announced its
merger of equals
with Australia’s Galaxy Resources in a AU$4 billion deal to create a top five lithium company.
The company did not release any news last week, but shares jumped 17.51 percent to end at C$9.06.
5. Nickel Creek Platinum
Yukon-focused Nickel Creek Platinum is working to advance its 100 percent owned Nickel Shäw project towards becoming Canada’s next world-class
nickel
sulfide mine. The company’s asset is host to over 2 billion pounds of nickel, 1 billion pounds of
copper
, 6 million ounces of
platinum
-group metals and 120 million pounds of
cobalt
in the measured and indicated categories.
The company did not release any news last week, but Nickel Creek Platinum nevertheless saw its share price increase 12.5 percent to C$0.09.
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.
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