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Thursday, September 21, 2023

5 Top Weekly TSX Stocks: Orvana Minerals Up on Resource Estimate Increase

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (July 9), trading at 20,061.21. It continued rising to close the period at 20,250.46.

The index was supported by energy stocks, which were trending up due to better oil prices.

On Friday, the gold price was steady and on track for another weekly gain, while the silver price rose, but was due for a weekly decline.

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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

  • Orosur Mining (TSX:OMI)
  • Orvana Minerals (TSX:ORV)
  • SouthGobi Resources (TSX:SGQ)
  • Questerre Energy (TSX:QEC)
  • Africa Oil (TSX:AOI)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Orosur Mining

Orosur Mining is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The company operates in Colombia and Uruguay.

Last Wednesday (July 7), Orosur entered into a non-binding letter of intent with Canadian-listed Meridian Mining (TSXV:MNO,OTC Pink:MRRDF) in order to finalize a joint venture on Meridian’s Ariquemes tin project in Brazil. Last week, the company saw its share price increase 33.33 percent to C$0.34.

2. Orvana Minerals

Orvana Minerals is a multi-mine gold-copper producer. Orvana’s operations consist of the El Valle gold-copper-silver mines in Northern Spain, the copper-gold-silver Don Mario mine in Bolivia, which is currently on care and maintenance, and the Taguas property located in Argentina.

Last Monday (July 5), the company updated the resource estimate for its Taguas project, located in San Juan province, Argentina. Last week, Orvana’s share price jumped 16.46 percent to end at C$0.46.

3. SouthGobi Resources

Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of the China-Mongolia border. The company also holds the mining and exploration licenses of other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.

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Over the five day period, the company’s share price jumped 11.76 percent to end the week at C$0.19.

4. Questerre Energy

Questerre Energy is actively engaged in the acquisition, exploration and development of oil and gas projects, specifically non-conventional projects such as tight oil, oil shale, shale oil and shale gas. The company holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada, as well as in the Kingdom of Jordan.

Despite not releasing any news last week, Questerre jumped 11.43 percent to end at C$0.20.

5. Africa Oil

Africa Oil is an oil and gas company with producing and development assets in deepwater Nigeria, development assets in Kenya and an exploration/appraisal portfolio in Africa and Guyana.

The company did not release any news last week, but shares increased 10.08 percent to C$1.31.

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 market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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