As last week drew to a close, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was up by 18.04 points, a meager 0.11 percent, to reach 16,325.77 by last Friday (June 28).
News around the world was mostly dominated by sabre rattling between the US and Iran, with oil exports coming into the firing line as the US threatened sanctions on any country that traded with the country.
Meanwhile, the G20 took place and investors in Canada held their breath watching the US and China, holding on to hope that they could somehow resolve their trade dispute, which has wreaked havoc on commodities.
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Like the TSXV, companies on the TSX were a healthy medley of miners with different focuses, from copper to gold to oil.
- Northern Dynasty Minerals (TSX:NDM)
- New Gold (TSX:NGD)
- Avesoro Resources (TSX:ASO)
- Excellon Resources (TSX:EXN)
- Oryx Petroleum (TSX:OXC)
Read on to find out what each company has been up to in recent weeks to explain their place here.
Northern Dynasty Minerals
The name behind the Pebble copper-gold project project in Alaska has been scoring goals in 2019 so far, clearing hurdles on its way to getting the divisive project off the ground.
The company was relishing in more good news for its project on Wednesday (June 26) after the EPA announced it was going to reconsider a 2014 decision that effectively killed the project.
On the TSX, the company’s shares were up by a solid 35 percent over last week, rising to C$0.81 by Friday.
New Gold
Intermediate gold-mining company New Gold has producing assets in Canada and Mexico, though it bills itself as Canada-focused, with three Canadian projects, including the producing Rainy River and New Afton mines.
On June 26 the company announced that it was hosting Rainy River site tours for analysts and institutional investors, who were treated to a shiny new company presentation.
It must have been received well; in Toronto last week, New Gold was trading up by 24.75 percent on the TSX, reaching C$1.26 by Friday.
Avesoro Resources
Avesoro is a West African-focused gold mining company, with operating assets in Liberia, which is host to its flagship New Liberty mine, and Burkina Faso.
In news for the company, it announced the filing of the national instrument 43-101 for its Youga gold mine in Burkina Faso, claiming the report supported the company’s claim that it had increased the mineral reserves of Youga by 23 percent.
Avesoro was up by 23.81 percent in Toronto last week, reaching C$1.04.
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Excellon Resources
Excellon sits on what it claims is Mexico’s highest-grade silver mine, the La Platosa mine in Durango state.
News from Excellon this month has been corporate, with the announcement that it had appointed Anna Ladd-Kruger as its new CFO and vice president of corporate development. Ladd-Krugar had previously worked as the CFO of Trevali Mining (TSX:TV,OTCQX:TREVF).
Excellon’s shares were up by 19.28 percent last week, reaching C$0.99.
Oryx Petroleum
Oryx Petroleum is an international oil company established in 2010. It has a number of assets, projects and wells in the Kurdistan region of Iraq, the Democratic Republic of Congo and Senegal.
Another company with corporate news, Oryx announced the election of its directors on June 26, with no other news since the release of its Q1 results on May 7.
The company’s shares were trading at C$0.30 by last Friday, up 15.38 percent over the previous week.
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 $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.
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