CPNFF - 5 Top Weekly TSX Stocks: Black Iron Takes the Lead
The S&P/TSX Composite Index (INDEXTSI:OSPTX) remained almost neutral last week, increasing 0.30 percent to close the five-day period at 16,361.24.
The index opened higher on Friday (March 22), reaching a seven-month high on the back of energy stocks gains.
Looking over to commodities, gold prices slipped on Friday while silver was up slightly. Meanwhile, base metals prices were a mixed bag, with zinc prices surging on the back of supply worries.
That said, a number of stocks in the mining sector saw a share price increase including:
- Black Iron (TSX:BKI)
- Talon Metals (TSX:TLO)
- Euro Sun Mining (TSX:ESM)
- Forsys Metals (TSX:FSY)
- Laramide Resources (TSX:LAM)
Here’s a look at those companies and the factors that moved their share prices last week.
Black Iron
Toronto-based Black Iron is focused on advancing its 100-percent owned Shymanivske Project located in Krivyi Rih, Ukraine, to production. According to a preliminary economic assessment, the first build-out Phase entails production of 4 million tonnes per year of ultra high-grade, low impurity, 68 percent iron concentrate with expansion to 8 million tonnes per year starting in the third year of production.
Black Iron closed a private placement on Friday. The company’s shares increased 33.33 percent during the five-day period to reach C$0.08.
Talon Metals
Talon Metals is putting all its efforts on developing the Tamarack nickel–copper–cobalt project in Minnesota, US. The company aims to produce Class 1 nickel, which is required for batteries for the electric vehicle and stationary battery market.
The company did not release any news last week, but shares of Talon saw an increase of 26.32 percent last week to reach C$0.12.
Euro Sun Mining
Euro Sun Mining is focused on its Rovina Valley gold and copper project located in west-central Romania. The property hosts 10.11 million gold equivalent ounces — 7.05 million ounces of gold grading 0.55 grams per tonne and 1,390 million pounds of copper grading 0.16 percent.
Last week, Euro Sun Mining did not release any news, but during the five-day period, shares of the company jumped 25.45 percent to close the five-day period at C$0.69.
Forsys Metals
Emerging uranium producer Forsys Metals owns 100 percent of the Norasa project in Namibia. The company completed a definitive feasibility study in March 2015, which increased mineral reserves from 79 million pounds to 90.7 million pounds.
The company also holds a 100-percent interest in the Namibplaas project. Shares of Forsys Metals saw a spike of 25 percent to close the five day period at C$0.25.
Laramide Resources
Last but not least on the 5 top weekly TSX stocks is Laramide Resources, whose shares saw an increase of 23.53 percent to close the five-day period at C$0.42.
The Toronto-based company has diversified uranium assets in the United States and Australia. Laramide has recently acquired Church Rock and Crownpoint properties in the US. Additional US assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. In Australia, the company is advancing the Westmoreland asset, which is one of the largest uranium projects currently held by a junior mining company.
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 a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.