Last Friday, the S&P/TSX Composite index (INDEXTSI:) rose 0.35 percent, or 44.2 points to close at 12,797.79 points. , the index is up 6.2 percent since February 11, and is less than 1.7 percent from reversing its losses for the year.
Last week’s top-gaining stock in the resource space was SouthGobi Resources (TSX:), and it was followed by Golden Star Resources (TSX:,NYSEMKT:GSS), Trevali Mining (TSX:), Capstone Mining (TSX:) and Golden Queen Mining (TSX:). Here’s a look at what moved the share prices of those companies last week.
SouthGobi Resources
SouthGobi Resources describes itself as an integrated coal mining, exploration and development company with coal assets that are strategically located close to China. Its main project is the Mongolia-based Ovoot Tolgoi open-pit coal mine, and it also holds the Soumber deposit, the Zag Suuj deposit and Ovoot Tolgoi underground deposit
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The company’s share price rose an impressive 42.86 percent last week to end at $0.30. On February 22, it of Huiyi Wang as a non-executive director of the company.
Golden Star Resources
Golden Star Resources is a gold miner with producing mines and development projects in Ghana’s Ashanti gold belt. Last week, the company’s share price rose 36.59 percent, to $0.56, after the release of its , as well as the full 2015 year. During the period, Golden Star also estimates.
While the company reported a net loss attributable to shareholders of $67,681 for 2015, President and CEO Sam Coetzer emphasized that Golden Star’s focus is on becoming a lower-cost producer. “The fourth quarter operated exactly as planned and true to the vision we have strived to achieve over the last few years,” he said.
Trevali Mining
Zinc-focused base metals miner Trevali Mining saw its share price rise 21.13 percent last week to close at $0.43. During that time, the company on commissioning at its Caribou mine, located in New Brunswick. The update highlights that in February, Caribou achieved average throughput of about 2,707 tonnes per day. The release also states, “[i]mportantly, overall process variability continues to decrease on a month-to-month basis.”
Capstone Mining
Capstone Mining has three producing copper mines: Pinto Valley in the US, Cozamin in Mexico and Minto in Canada. It also holds two development projects, plus various exploration projects. Last week, the company’s share price rose 19.4 percent to end at $0.40; during that time, it for Pinto Valley on SEDAR, and announced that it the BMO Capital Markets 25th Global Metals & Mining Conference.
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Golden Queen Mining – 16 percent, $1.45
Golden Queen Mining is developing the California-based Soledad Mountain gold-silver project, and on February 16 announced that project construction had been ; it also said that commissioning was almost complete, and that it has initiated the leaching process on the heap leach pad for the project. The company has not released any further news since then, but its share price nevertheless rose 16 percent last week to reach $1.45.
Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’s . Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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