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Wednesday, September 27, 2023

5 Top Weekly TSX Stocks: Corvus Up on AngloGold Acquisition Offer

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (July 16), trading at 20,183.72, but ultimately closed lower at 19,981.62.

The index was supported by energy stocks, which were leading the way.

On Friday, the gold price pulled back, but was on track for another weekly gain, while silver also fell on the back of a slight rebound from the US dollar.

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

  • Corvus Gold (TSX:KOR)
  • SouthGobi Resources (TSX:SGQ)
  • Verde Agritech (TSX:NPK)
  • Pieridae Energy (TSX:PEA)
  • Belo Sun Mining (TSX:BSX)

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

1. Corvus Gold

Junior exploration and development company Corvus Gold is currently focused on its near-term gold-silver mining project in the North Bullfrog and Mother Lode districts of Nevada.

Last Tuesday (July 13), the company received a non-binding acquisition proposal from AngloGold Ashanti (NYSE:AU); Corvus’ management and board of directors are now reviewing it. The company saw its share price increase 27.3 percent last week to C$4.15.

2. SouthGobi Resources

Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, which is the closest coal mine to China, located 46 kilometers north of China-Mongolia border.

The company also holds mining and exploration licenses for other metallurgical and thermal coal deposits in the South Gobi province of Mongolia. Over the five day period, SouthGobi’s share price jumped 21.05 percent to end the week at C$0.23.

3. Verde Agritech

Verde AgriTech is developing its Cerrado Verde project, located in Brazil. The project is the source of a potassium-rich deposit from which the company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.

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Despite not releasing news over the five day period, the company’s share price jumped 16.3 percent to end the week at C$1.07.

4. Pieridae Energy

Pieridae Energy is focused on integrated energy-related activities, from the exploration and extraction of natural gas, to the development, construction and operation of the Goldboro liquefied natural gas facility and the production of liquefied natural gas for sale to Europe and other markets.

The company did not release any news last week, but its share price jumped 13.43 percent to end the week at C$0.38.

5. Belo Sun Mining

Canadian gold explorer Belo Sun Mining is currently focused on developing its Volta Grande gold project. Located in Brazil, the project has undergone a complete feasibility study, which was finished in 2015.

The company did not release any news last week, but Belo Sun saw its share price increase 12.28 percent over the course of the five day period to hit C$0.64.

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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