Verde Agritech Surges After Publishing 2022 Guidance – Cannabis Hemp Blog

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,207.64 in the early morning of last Friday (January 14). It closed the five day period slightly higher at 21,360.54.

After touching a seven week high earlier in the week, the index opened lower on the last day of trading as the materials sector declined. Looking over to commodities, gold and silver edged up on Friday as the US dollar retreated while investors awaited American economic data.

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

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

1. 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.

Last Monday (January 10), the company announced its 2022 production guidance of 700,000 tonnes, along with its two year outlook. Shares of Verde Agritech increased 32.63 percent last week to trade at C$3.78.

2. Avalon Advanced Materials

Avalon Advanced Materials has four advanced-stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids lithium project near Kenora, Ontario, while looking at several new project opportunities, including reactivating its Lilypad cesium-tantalum project in Northwestern Ontario.

Last week, the company did not release any news, but shares increased 31.82 percent to end at C$0.14.

3. Star Diamond

Star Diamond is engaged in the acquisition, exploration and development of mineral properties. The company’s most significant asset is its interest in the Fort à la Corne property in Central Saskatchewan.

Star Diamond’s share price has been increasing since its resolution with partner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) in December. Over the five day period, shares rose 30.3 percent to end at C$0.43.

4. NextSource Materials

Toronto-based NextSource Materials is a mine development company in the final development stage at its 100 percent owned Molo graphite project in Southern Madagascar.

Molo is a fully permitted, feasibility-stage project and is the only project with SuperFlake graphite. Construction of Phase 1 of the project is underway, and commissioning is expected in mid-2022.

Last Thursday (January 13), the company announced the completion of factory acceptance testing and final verification of equipment design specifications and end-to-end functions of the processing plant for Phase 1 at Molo. Shares of NextSource increased 28.16 percent to trade at C$4.46 by the end of last week.

5. Golden Minerals

Golden Minerals is a gold and silver producer based in Golden, Colorado. The company is primarily focused on producing gold and silver from its Rodeo mine and advancing its Velardeña properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina. It is also looking to acquire and advance selected mining properties in Mexico, Nevada and Argentina.

Last Wednesday (January 12), the company reported 2021 production of 14,449 ounces of gold, exceeding guidance. Golden Minerals saw its share price increase 22.35 percent last week to hit C$0.52.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 11:00 a.m. EST 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.

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

Editorial Disclosure: NextSource Materials is a client of the Investing News Network. This article is not paid-for content.


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