The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upward early on Friday (July 2) at 15,643.91.
The index opened on a bright note at the end of the week as the domestic jobless rate fell in June, pointing to a recovery from the impact brought by the coronavirus pandemic.
In commodities, gold broke the US$1,800 per ounce level earlier in the week, but pulled back on Friday. Copper also continued its upward trend, hovering around US$6,300 per tonne.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Silver Bear Resources (TSX:SBR)
- Amerigo Resources (TSX:ARG)
- Steppe Gold (TSX:STGO)
- Galiano Gold (TSX:GAU)
- Erdene Resources (TSX:ERD)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Silver Bear Resources
Silver Bear is focused on the development of its wholly-owned Mangazeisky silver project, which includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located in the Republic of Sakha within the Russian Federation.
Despite not releasing any news last week, shares of Silver Bear Resources jumped 46.15 percent to end the week at C$0.19.
2. Amerigo Resources
Amerigo’s 100 percent owned MVC operation in Chile has been producing copper concentrates since 1992 by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine.
Last week, the company did not release any news, but Amerigo Resources’ share price was up by 42.03 percent to reach C$0.49.
3. Steppe Gold
Steppe Gold is a precious metals exploration and development company focused on gold and silver projects in Mongolia. The company wholly-owns the advanced-staged ATO project.
It was a busy week for Steppe Gold, which provided an update on production at ATO on July 6. The company remains on track to produce approximately 60,000 ounces of gold in its first year of production at cash costs of about US$500 per ounce from its asset.
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Later in the week, on July 9, Steppe Gold announced a strategic investment of C$15 million by billionaire mining investor Eric Sprott. Shares of the company jumped 32.50 percent to end the week at C$2.65.
4. Galiano Gold
Galiano currently operates and manages the Asanko Gold mine, located in Ghana, West Africa which is jointly owned with Gold Fields (NYSE:GFI).
On July 6, the company provided an update on its exploration program, and later in the week on July 9 it released its preliminary results for Q2. Last week, Galiano Gold saw its share price increase 26.09 percent to C$2.32.
5. Erdene Resources
Another Mongolia-focused company, Erdene Resource has been exploring in southwest Mongolia over the past decade and is responsible for the discovery of the Khundii Gold District. The company is considering two prospects for development: the 100-percent-owned Bayan Khundii and Altan Nar projects. Together, these deposits comprise the Khundii gold project.
On July 7, the company released drilling results from the Midfield Southeast zone at the Khundii gold project. Last week, shares of the company increased 25 percent, to end at C$0.50.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within energy minerals and non-energy minerals sectors 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: Steppe Gold is a client of the Investing News Network. This article is not paid-for content.
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