Welcome to Investing News Network’s weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resources sector.
On Tuesday (February 17), Canadian Prime Minister Mark Carney announced the creation of Canada’s first Defense Industrial Strategy, which aims to support the country’s defense sector and overall sovereignty.
The strategy will focus procurement on prioritizing Canadian manufacturers, aims to create 125,000 new jobs in the supply chain, and will include accelerating critical minerals projects.
Not included in the Prime Minister’s official announcement, this strategy will also create a significant mineral reserve to support the independence of domestic supply chains. The news follows a February 7 announcement from the US that it would build up its own critical mineral reserves through Project Vault, a multi-billion dollar plan aimed at reducing dependence on foreign supply chains and providing access to minerals needed for advanced manufacturing.
Statistics Canada released its December monthly mineral production survey on Friday (Feb. 20).
The data shows an increase in gold and copper production and shipments compared to November figures.
Copper production rose to 43.65 million kilograms from 39.7 million in the previous month; Meanwhile, gold production increased to 18,210 kg from 18,086 kg in November. As for shipments, copper shipments rose to 57.86 million kg from 45.87 million kg, while gold shipments rose to 19,233 kg from 17,625 kg.
As far as silver is concerned, production declined marginally to 22,747 kg from 23,198 kg in November, while shipments increased to 26,888 kg as against 26,207 kg.
Check out our top market news round-up for more on what’s moving the markets this week.
Markets and commodities react
Canadian stock markets were mixed this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) rose 3.96 percent for the week to close at 33,817.51 on Friday (Feb. 13), while the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 4.99 percent to 1,042.56.
The CSE Composite Index (CSE: CSECOMP) rose 2.6 percent to 165.86.
The price of gold rose 3.5 percent to US$5,094.04 an ounce at 4:00 pm EST on Friday. Silver prices fared better and closed the week at US$84.16, up 11.89 per cent on Friday.
Among base metals, Comex copper price rose 1.71 per cent to US$5.93 this week.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) rose 3.3 percent to close at 602.33 on Friday.
Top Canadian Mining Stocks This Week
How have mining stocks performed against this backdrop?
Below, take a look at the five best-performing Canadian mining stocks this week.
Stock data for this article was retrieved using TradingView’s Stock Screener on Friday at 4:00 PM EST. Only companies with market caps over C$10 million on the TSX, TSXV and CSE are included. Mineral companies within the non-energy minerals, energy minerals, process industries and productive manufacturing sectors were considered.
1. Belo Sun Mining (TSX:BSX)
Weekly Profit: 108.93 percent
market cap: C$508.45 million
Share Price: C$1.17
Belo Sun Mining is an explorer and developer focused on advancing its Volta Grande gold project in Brazil.
The property extends over approximately 2,400 hectares within the Tres Palmeiras greenstone belt in Pará, Brazil. The company has been working on the project since 2003, and secured the necessary development permits in 2014 and 2017.
A 2015 mineral reserve estimate demonstrated a proven and probable reserve of 3.79 million ounces of gold from 116 million metric tons of ore, with an average gold grade of 1.02 per metric ton (g/t).
Development at the site halted in April 2017 after the Brazilian Federal Regional Court issued a suspension order until indigenous studies were completed. Later in December that year, the courts upheld this decision.
Then, in early 2018, a federal judge ruled that the Federal Brazilian Environmental Institute (IBAMA) would be the competent authority to issue environmental permits. This decision was reversed in 2019, with the Pará state Secretariat of Environment and Sustainability (SEMAS) re-assuming its permitting authority. In September 2023 the decision was once again overturned and authority returned to IBAMA.
In January 2025, Belo San announced that the Federal Court of Appeal had re-appointed SEMAS as the permitting authority for the Volta Grande project. The company said it is happy with the decision, as the agency is familiar with the project and has a constructive and transparent relationship with it.
The most recent news on the matter came on February 14, when the company announced that Project installation license Was restored. The court found that Belo Sun had complied with the conditions imposed for completing the indigenous component study and that the consultation was conducted in good faith and in accordance with protocol.
The company noted that respondents to the appeal will be given the opportunity to file their response to the court and said they will provide further updates as appropriate.
2. Walker River Resources (TSXV:WRR)
Weekly Profit: 48.05 percent
market cap: C$32.66 million
Share Price: C$0.57
Walker River is an exploration company focused on advancing its Lapon Gold Project in Nevada, US.
The project, located southeast of Reno, consists of 149 claims covering 3,101 acres and includes three major target areas: Pikes Peak, Lapon Canyon/Rose and Range Front Rattlesnake.
According to the project page, small-scale underground historical mining at the site dates back to 1914, and more modern exploration occurred in the 1990s following its acquisition by Teck Resources (TSX: TECK.A, TECK.B, NYSE: TECK). During its exploration, low-grade surface-mineralization was discovered across a strike length of 450 metres.
In December 2025, Walker River announced the most recent assay from the site yielded a grade of 3.05 grams per metric tonne (g/t) over 117.4 metres, including an intersection of 6.67 g/t over 18.3 metres.
The company has not released any news last week.
3. Chesapeake Gold (TSXV:CKG)
Weekly Profit: 37.43 percent
market cap: C$228.17 million
Share Price: C$4.92
Chesapeake Gold is a precious metals explorer and developer pursuing the Mettes and Luisi projects in Mexico. Metates is the more advanced of the two projects and is located northeast of Mazatlán. The July 2021 preliminary economic assessment (PEA) for the project projects a net present value of US$930 million after tax, with an internal rate of return of 55.9 per cent and a payback period of 1.6 years based on a spot gold price of US$1,786 per ounce.
The PEA also reports a measured and indicated resource of 19.8 million ounces of gold and 542 million ounces of silver with average grades of 0.47 g/t gold and 12.9 g/t silver from 1.3 billion metric tons of ore.
The company also owns the less-advanced Lucy project in Sinaloa, Mexico. The property covers 483 hectares and contains zinc and gold bearing skarn systems. A 10-hole, 900-metre exploration program in 2024 produced a highlighted sample grading 6.11 g/t gold over 24 meters from surface.
The most recent news from the company came Tuesday, when it announced it has been named to this year’s TSX Venture 50 list. This delivered a 388 percent increase in annual share price and a 415 percent increase in its market capitalization.
4. New Zealand Energy (TSX:NZ)
Weekly Profit: 33.33 percent
market cap: C$12.85 million
Share Price: C$0.38
New Zealand Energy is an oil and gas producer focusing on projects in New Zealand’s Taranaki Basin.
According to the company’s December 2024 oil and gas reserves summary, it has proven and probable quantities of 1.15 million barrels of oil equivalent across producing, non-producing and undeveloped projects. The main producing projects are the Tariki 5 and Tariki 5A wells, which are a 50 percent joint venture with L&M Energy.
The most recent news from New Zealand came on February 9, when it announced it had closed a non-brokered private placement for 17.5 million common shares for gross proceeds of C$3.5 million.
The company said the funds raised will be directed towards advancing its gas storage project and general working capital.
5. Unigold (TSXV:UGD)
Weekly Profit: 32.43 percent
market cap: C$64.66 million
Share Price: C$0.245
Unigold is an exploration company advancing its Nita Concession in the Dominican Republic.
The property consists of two primary regions, Niata Sur and Niata Norte, spanning approximately 21,000 hectares in the northwestern Dominican Republic, near the border with Haiti.
The Candelones Project, Unigold’s main focus, is hosted in Nita. A December 2022 feasibility study for the project indicated a post-tax net present value of US$30.64 million with an internal rate of return of 43.6 percent.
The study also includes a mineral resource estimate with measured and indicated open quantities of 974,000 ounces of gold, 59.24 million pounds of copper and 2.43 million ounces of silver at average grades of 1.56 g/t gold, 0.14 per cent copper and 3.89 g/t silver from 19.37 million metric tonnes of ore.
The latest news from Unigold came on Tuesday, when it announced the appointments of Juana Barceló and Andrés Maranzini to its board of directors. Barcelo has over 15 years of business and legal experience in Latin American and Caribbean mining sector, and most recently was President/Country Manager of the Barrick Mining (TSX:ABX,NYSE:B) and Newmont (NYSE:NEM,ASX:NEM) joint venture, Barrick Pueblo Viejo.
Marranzini, meanwhile, is a lawyer and the current CEO of Punta Bergantin Development, and has previously held positions in the Dominican government.
FAQs for Canadian Mining Stocks
What is the difference between TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with large market caps, and the TSXV, or TSX Venture Exchange, is used by small-cap companies. Companies listed on the TSXV may graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of December 2025, 898 mining companies and 71 oil and gas companies are listed on the TSXV, accounting for more than 60 percent of the total 1,531 companies listed on the exchange.
As for the TSX, it is home to 175 mining companies and 51 oil and gas companies. There are a total of 2,089 companies listed on the exchange.
The TSX and TSXV together host approximately 40 percent of the world’s publicly traded mining companies.
How much does it cost to list on the TSXV?
Companies must pay a variety of fees to list on the TSXV, and according to the exchange, they can vary depending on the nature and complexity of the transaction. The listing fee alone will likely cost between C$10,000 to C$70,000. Accounting and auditing fees can range between C$25,000 and C$100,000, while legal fees are expected to exceed C$75,000 and underwriters’ commissions can reach 12 percent.
The exchange lists some other fees and expenses that companies can expect, including, but not limited to, security commissions and transfer agency fees, investor relations costs, and directors and officers liability insurance.
Of course, these are all just for the starting list. Once companies are trading, there are ongoing expenses, such as standing fees and additional listing fees, as well as costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV just as they trade stocks on an exchange. This means they can use a stock broker or personal investment account to buy and sell shares of TSXV-listed companies during trading hours of the exchange.
Article by Dean Belder; FAQ by Lauren Kelly.
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Securities Disclosure: I, Dean Belder, do not have any direct investment interest in any of the companies mentioned in this article.
Securities Disclosure: I, Lauren Kelly, do not have any direct investment interest in any of the companies mentioned in this article.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Reflect the views of.
