LGDTF - 5 Top Weekly TSX Stocks: Liberty Hits High-Grade Gold
After falling through most of last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) ended the week on a high, gaining 57.35 points on Friday (October 4) to reach 16,426.38.
World news was heavy on US impeachment and Brexit news, with British Prime Minister Boris Johnson pledging there will be no delay to Brexit even if there is no deal — despite agreeing in court to seek a delay to meet legal requirements set by Parliament.
Among commodities, gold was flat last week at US$1,503.6, while silver was slightly down at US$17.45.
Precious metals were very much on the mind through the week: Below are the top five gaining resources and energy stocks on the TSX, and all of them are precious metals-focused companies.
- Liberty Gold (TSX:LGD)
- International Tower Hill Mines (TSX:ITH)
- Continental Gold (TSX:CNL)
- Marathon Gold (TSX:MOZ)
- North American Palladium (TSX:PDL)
Read on to see what they have been up to lately.
Liberty Gold
Liberty Gold has three core gold projects in Nevada, Idaho and Utah, which collectively fall within the Great Basin, where Liberty focuses its attention.
On October 1, the company announced it had hit high-grade gold while drilling at its Black Pine project in Idaho. Results included 2.51 grams per tonne (g/t) oxide gold over 41.1 meters and 0.94 g/t gold over 100.6 meters.
With that, the company lead the resources companies on the TSX last week, with its share price increasing by 16 percent to C$0.87 by Friday.
International Tower Hill Mines
This company owns the Livengood gold project in Alaska, which it describes as the only American gold-only project not owned by any of the majors.
On its website, news is thin on the ground. The company’s last published release, from August 9, detailed the company’s second quarter results for 2019. That’s also its most recent release on SEDAR.
Despite that, International Tower Hill Mines was trading up by 7.14 percent last week, at C$0.75.
Continental Gold
Continental Gold has its sights set firmly on Colombia, where it’s developing its 100 percent owned Buriticá gold project in Antioquia for scheduled production in 2020.
The company had news hot off the presses last week, releasing a sustainability report on October 2.
Its shares were trading at C$4.11 last Friday, up 6.75 percent.
Marathon Gold
Marathon Gold is a Canadian developer with a focus on its Valentine gold project in Newfoundland and Labrador.
The company reported new drill results from Valentine on October 2, including 4.64 g/t gold over 29 meters, 3.38 g/t gold over 29.0 meters, 2.36 g/t gold over 39 meters and 2.22 g/t gold over 25 meters.
With that, Marathon got a modest boost in share price in Toronto of 5.88 percent to reach C$1.44 last Friday.
North American Palladium
North American Palladium has been mining the precious metal that gives it its name for 25 years at its Lac des Iles underground mine in Ontario. The company has recently been ramping up production.
In August, North American Palladium acquired a 51 percent interest in the Sunday Lake platinum-group metals project in Ontario, near its Lac des Iles mine.
North American Palladium was trading at C$19.25 by the end of last week, up by 4.85 percent.
Data for 5 Top 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 C$50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.