Increases were primarily felt in the information, culture and recreation category as well as in the wholesale and retail trade one, with both sectors gaining 22,000 jobs. Professional, scientific and technical services jobs also saw gains in September, adding 21,000 new hires.
Despite the gains, the employment participation rate fell by 0.2 percent to 64.9 percent in September, marking a year-over-year decline of 0.7 percent.
The majority of the increase was owed to a 0.4 percent jump in food prices and a 0.2 percent increase in shelter costs. The higher figures may show that while inflation has tracked down there are still lingering pressures within the market and it could cause the US Federal Reserve to adjust its rate-cutting policy over its final two meetings of the year in November and December.
Gold recovered from a mid-week slump that saw the precious metal fall to US$2,606 per ounce, climbing to US$2,655.86 on Friday at 4:30 p.m. EDT to end the week up by 0.09 percent. Meanwhile, silver saw recent gains erased as it fell 2.06 percent on the week to US$31.53 per ounce.
Against that backdrop, how did TSX- and TSXV-listed resource stocks perform? Here are the top five gainers.
Weekly gain: 77.78 percent
Market cap: C$230.61 million
Share price: C$1.28
Weekly gain: 68.18 percent
Market cap: C$18.96 million
Share price: C$0.185
Dore Copper Mining is an exploration and development company with several projects located in the Lac Dore and Joe Mann mining camps in Québec, Canada. The company aims to become a copper producer operating with a hub and spoke model, in which its Copper Rand mill processes ore from several assets.
The company’s land package hosts 13 past-producing mines and multiple key projects, including Corner Bay, Joe Mann and Devlin. The company’s resource target areas all lie within a 60 kilometer radius of its Copper Rand mill.
The projects also contain inferred resources of 476.5 million pounds of copper and 248,000 ounces of gold from 7.01 MT at grades of 3.01 percent copper and 1.08 g/t gold.
Weekly gain: 62 percent
Market cap: C$40.53 million
Share price: C$0.405
Element 29 Resources is an exploration company focused on advancing a portfolio of projects in Peru.
Its primary projects consist of the Elida copper-molybdenum-silver project in West-central Peru and the Flor de Cobre project in the Southern Peruvian copper belt.
The Elida site is composed of 29 concessions covering 19,749 hectares and hosts five distinct exploration targets within a 2.5 by 2.5 kilometer alteration system.
Weekly gain: 50 percent
Market cap: C$19.94 million
Share price: C$0.09
World Copper is an exploration and development company working to advance its Zonia copper project in Central Arizona, US.
World Copper added that it has the potential for pre-production revenue through the utilization of 14 million short tons of previously stockpiled material. Additionally, it highlighted that the site hosted previous mining at the site with a low strip ratio of 1:1.
Weekly gain: 47.32 percent
Market cap: C$19.94 million
Share price: C$3.30
Standard Lithium is an exploration and development company working to advance its South West Arkansas and Phase 1A projects in Arkansas and its East Texas project in Texas, US.
The projects are all located in the Smackover Formation, which extends from Central Texas into the Florida panhandle. The region hosts brines previously used to recover bromine that also host significant commercial lithium concentrations.
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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