Gold prices endedthe week down, pulling back from a one-year high touched on September 8. Silver prices dropped as well, as didbase metalsprices. That said,copper rebounded on Friday after losing more than 7 percent since September 5.
Against that backdrop,a number of TSX-listed stocks in the mining sector saw share price increases last week. Twolithium stocksmade the list, as did companies focused on othercommodities. The five biggest gainers were:
- Katanga Mining (TSX:WRN)
- Largo Resources (TSX:LGO)
- Lithium Americas (TSX:LAC)
- Tahoe Resources (TSX:THO)
- Nemaska Lithium (TSX:NMX)
Here’s a look at those companies and the factors that moved their share prices last week.
Katanga Mining operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo through two joint ventures. The joint ventures are called Kamoto Copper Company and DRC Copper and Cobalt Project. The company did not release any news last week, but its share price spiked26.92 percent to close the five-day period at $0.99.
Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide at its Vanadio de Maracas Menchen mine. Largo also has interests in a portfolio of other projects, including theCurrais Novos tungsten tailings project,the Campo Alegre de Lourdesiron-vanadium project and theNorthern Dancer tungsten-molybdenum property.
The company’s latest news came on September 5, when it announceda production record of 888 tonnes of vanadium pentoxide in August. Last week, its share price gained22.22 percent to reach $1.21.
Lithium Americas, together with SQM (NYSE:SQM), is developing the Cauchari-Olaroz lithium project, located in Argentina, through its 50-percent interest in Minera Exar. In addition, Lithium Americas owns 100 percent of the Lithium Nevada project, as well asRheoMinerals, a supplier of rheology modifiers for oil-based drilling fluids, coatings and specialty chemicals.
Like Katanga, the companydid not release any news last week, though it was included on Eight Capital’s list of lithium stocks to watch. Its share price jumped 20 percent to close the five-day period at $1.68.
Tahoe Resources is focused on the exploration, development, operation and acquisition ofprecious metalsproperties in the Americas. On September 10, aGuatemalan court reinstated the company’s suspended mining license for Escobal, one of the world’s largest silver mines. Tahoe’s share price jumped 18.8 percent on the news to close the five-day period at $6.76. Click here to read more about the situation at Escobal.
Nemaska Lithium is focused on becoming a supplier to the lithium-ion battery market. The company’swholly owned Whabouchi spodumene mine project is located in Quebec, and is estimated to be the second-richest and largest lithium deposit in the world.
The company’s share price rose 10.77 percent last week to end at $1.44. Nemaska did not release any news that would explain the gain, although like Lithium Americas it was included on Eight Capital’s list of lithium stocks to watch.