LMCNF - 5 Top Weekly TSX Stocks: Nickel Drives Horizonte Up
On Friday (August 30) last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) rose by 16.29 points to reach 16,400.78 — a gain of 0.1 percent.
In the news last week, everyone was looking at the UK and asking political questions, while the US and China are on-again off-again about a potential deal on the trade war, and Brazil’s reputation goes down the drain internationally on the environmental front.
In commodities, gold stayed steady last week, while base metals saw nickel jump thanks to supply fears.
And speaking of commodities, here are the top five gainers on the TSX from last week in the resources and energy space:
- Horizonte Minerals (TSX:HZM)
- Platinum Group Metals (TSX:PTM)
- GoGold Resources (TSX:GGD)
- Belo Sun Mining (TSX:BSX)
- Leagold Mining (TSX:LMC)
Read on to find out what these companies have been up to recently.
Horizonte Minerals
Horizonte has made this list a few times this year, as its two projects in Brazil move forward in development. Horizonte owns the Araguaia ferronickel project and the Vermelho nickel–cobalt project, of which Araguaia has been in the news this year as the company has been moving toward construction footing for the project.
On August 29, the company announced a US$25 million royalty funding agreement with Orion Mine Finance for the development of Araguaia.
On the TSX, Horizonte was trading at C$0.08 by the end of last week — an increase of 77.78 percent over the previous five days trading.
Platinum Group Metals
Platinum Group Metals is focused, unsurprisingly, on the production of platinum and palladium. Its projects are located in the prolific South African Bushveld complex — where a majority of the world’s platinum production takes place.
On August 21, the company announced big news on the financing front, saying that it had closed a US$10.4 Million bought deal financing, arranged a US$9.2 and US$10 million private placement financing and established a US$20 million 2 to 3 year credit facility, as well as repay an existing US$43 million credit facility.
On the TSX, Platinum Group Metals was trading up by 52.83 percent by the end of last week at C$2.43.
GoGold Resources
Gold and silver producer GoGold Resources has properties and interests in Mexico, including the Parral tailings project in Chihuahua state, which has 21.3 million tonnes of tailings left over from 230 years of mining.
Recent news from GoGold came on August 28, when it announced it had drilled 27.5m averaging 2.99 grams per tonne of gold at its Las Ricos exploration project in Jalisco, Mexico.
In Toronto, GoGold was trading at C$0.71 by the end of last week — a gain of 29.09 percent over the previous week.
Belo Sun Mining
Belo Sun Mining is developing the Volta Grande gold project in Brazil, which through a 2015 feasibility study it describes as having the potential to be an open pit mine with a long life.
Company news was recently updated in mid-July, when it said that a court ruling in Brazil would favor company operations, after the Federal Court of Appeal ruled that the State Environmental Agency for the Government of Para (SEMAS) remained the competent authority for assessing environmental permitting. SEMAS had awarded Belo Sun its permitting.
On the TSX, Belo Sun was trading at C$0.485, up by 25.97 percent.
Leagold Mining
Leagold is a mid-tier gold producer, with assets in Mexico where it owns an operating mine and a development project — and Brazil, where it has three operating mines and a development project.
On August 1 the company released its H1 results, detailing gold production of 197,234 ounces in the half-year, and sales of 201,724 ounces.
The company was trading at C$2.99 by last Friday, with a weekly gain of 18.65 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.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.