Welcome to Canadian Mining Stock, the best performing Canadian mining stock of Investing News Network TSX, TSXV And the CSE begins with a round-up of Canadian and American news affecting the resource sector.
The impact of American tariff hazards on the US and Canadian economies was reflected in economic data this week.
On Monday (March 3), Atlanta Fed updated its GDPNOW model, estimating a decline of 2.8 percent in Q1 GDP. While the number has since been revised for a decline of 2.4 percent, it still represents a decrease of about 5 percent from Q4 2024, when the US economy increased by 2.3 percent. If the numbers catch the numbers, it will mark the biggest decline in GDP since the epidemic.
Although this is only a forecast based on the available data, it can indicate the recession capacity in the US starting in the first half of 2025. The overall position of the US economy may be better when the US Labor Statistics Bureau releases its February Consumer Price Index data on Wednesday (March 12) and the Federal Reserve hosts its Federal Open Market Committee meeting on 18 and 19 next week.
In Canada, Statistics Canada reported on Thursday (March 6) that the trade surplus with the US reached a record C $ 14.4 billion in January, recorded in December to 6.3 percent from C $ 12.3 billion. The agency said that this increase occurred with increasing tariffs from the US as the more manufacturer can be stocking Canadian imports to the south of the border.
Stekain also released its February Labor Force Survey on Friday (March 7). Statistics have shown that the increase in jobs during the month had stopped, in which the National Labor force 1,100 new posts were overall overall.
The figures were much below the estimates, as economists expected to add 15,000 new jobs to Canada’s economy. The country added 76,000 jobs in the earlier month.
The biggest advantage in February came from bulk and retail trade, which added 51,000 new workers, while the largest contraction came from 33,000 less jobs in professional, scientific and technical services.
Markets and goods react
The American equity markets were again below this week.
S&P 500 (IndexSP: INX) lost 3.32 percent to close the week at 5,770.16, and Nasdaq-100 (Indexnasdaq: NDX) fell 4.09 percent to 20,158.31. Dow Jones Industrial Average (Indexdjx: .DJI) declined 2.5 percent to 42,801.73.
In Canada, the markets were also in decline. S&P/TSX Venture Composite Index (JX) fell 0.63 percent at 614.30 on Friday, S&P/TSX Composite Index (Indextsti: OSPTX) posted a loss of 2.57 percent on 24,758.76 and CSE Composite Index (CSECOMP) 2.7 percent.
Gold continued to trade in the high area of this week, rose 1.8 percent a week to US $ 2,908.07 per ounce at 4:00 pm on Friday. A more significant increase in the price of silver was observed, which increased to 4.32 percent to US $ 32.48 during the period.
In base metals, the price of copper was 2.61 percent in a week, the US $ 4.72 per pound on comex on Friday. Meanwhile, S&P GSCI (IndexSP: SpgSci) 0.44 percent closed at 551.16.
Top Canadian Mining Stock this week
So how did mining stocks perform against this background?
We break the five best performing Canadian mining stock of this week.
The data for this article was recovered on EST at 4:00 pm on Friday using the stock screener of the data tradingview. Companies trading on TSX, TSXV and CSE only include more than $ 10 million market capitalization. Companies were considered within non-energy minerals and energy minerals.
1. San Lorenzo Gold (TSXV: SLG)
Weekly Benefits: 328.57 percent
market cap: C $ 19.44 million
Share price: C $ 0.30
San Lorenzo Gold is an exploration company working to pursue its Salvadora project in Chile’s Chantral Province.
Property includes 25 exploration and nine exploitation concessions that cover an area of 8,796 hectares. It hosts a large copper and gold porphyry system with several important goals. According to the Project page, the site is similar to the Salvador Copper Mine owned by Kodelco, the site, which has been operated since the early 1950s and is expected to continue until the mid -20100s expansion.
Shares at San Lorenzo saw significant benefits this week, as it announced a significant search hole on Monday, the first of the three holes that were drilled in Sero Blanco Gold-Copper Target of Salvadora, as well as partial results from three holes were also drilled in its arro de oro gold target.
Discovery Hole in Sero Blanco performed grade of 1.04 gm per metric tonnes (g/t), 1.0 g/t silver and 0.05 percent copper of more than 153 meters, including 12.78 g/t gold, 6.5 g/t silver and a intersection with 0.51 percent copper.
The partial results of Arco de Orro returned a highlight result of 5.61 g/t gold more than 6.6 meters, which included a square of 11.14 g/T gold more than 2.3 meters. Copper results are still pending with Arco de ORO.
The company said that the announcement of a discovery hole from the first drill test in Sero Blanco is to declare the results of Arco Day Oro that confirms the strength of the gold system there.
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2. Tidewater Renewables (TSX: LCFS)
Weekly Benefits: 74.23 percent
market cap: C $ 84.06 million
Share price: C $ 2.84
The Tidewater Resource BC focuses on the production of low carbon fuel in Canada.
Its only operation is an Akshaya diesel and hydrogen complex located near Prince George. The project has a 3,000 barrels per day of renewable diesel and 23.7 metric tonnes per day for hydrogen. The plant began production during Q4 2023 using feedstock which included soybean and canola oil.
The company is expanding the site to produce permanent aviation fuel, which it plans to start production in 2028.
After the announcement by the company on Thursday on Thursday, the Tidewater shares received this week that it had advised the Canadian Border Services Agency (CBSA) to start an anti-safety and anti-dumping duty check in the import of Akshaya Diesel from the US. The release indicated that CBSA confirmed that Tidewater had provided enough evidence to support the allegations.
Tidewater hopes that additional duties between C $ 0.50 and C $ 0.80 will be applied to Akshaya Diesel imports arising from the US, which will provide increased market stability for tidewater products.
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3. Galantus Gold (TSXV: Gal)
Company Profile
Weekly Benefits: 54.55 percent
market cap: C $ 10.9 million
Share price: C $ 0.085
Galantus Gold is a gold discovery and development company working to carry forward its leading Omag project, located in the west of Belfast, Northern Ireland.
The project is located within a license area of 189.2 square kilometers. The site is currently in the development phase and covers the total area of 220 acres. It hosts an open-pit mine, processing plant, tailing facility and water clarification pond. More than 3 kilometers of underground mining has been completed and 3,175 metric tonnes have been done from six test stops.
The resource estimates of June 2023 from the site demonstrated a measured resource of 119,360 metric tonnes to 25,287 ounces, from the ore grading of 6.59 g/t gold ore grading, 730,702 MT of 730,702 MT of 730,702 MT with additional indicated resources of 153,671 ounces. The estimated resource in Omagh shows 172,873 ounces of gold with 859,802 MT to 6.24 G/T with gold grade.
Galantus Gold shares saw significant benefits this week, but the company has not yet been released in 2025.
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4. Eastern Platinum (TSXV: ELR)
Company Profile
Weekly Benefits: 42.86 percent
market cap: C $ 34.42 million
Share price: C $ 0.20
Eastern Platinum, also known as Eastplats, is a platinum group metal (PGM) and chrome mining, development and investigation company that is working to carry out property in South Africa.
Its most advanced property is the mine of crocodile river, which is located in the north -west of Johannesburg. The operation of the mine began in 1987, but production was suspended in the early 1990s due to the fall in PGM prices. Since then, the mine saw some limited production before being suspended once again in the early 2000s.
After significant rehabilitation, chrome and PGM production from site tailing was resumed on site in 2018 and 2020 respectively, and underground operations in Zandfontin Mine were resumed in October 2023. In October last year, Eastplats began to commission a PGM processing plant that would process Ore from Zandphintein.
A technical report in May 2022 demonstrated a proven and potential resource of 1.72 million ounces of platinum, paladium, rhodium and gold with an average grade of 3.68 g/t from 14.58 million metric tons of ore.
The shares at the Eastplats this week received the stocks, although the company has not released the news in 2025.
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5. Rishi Potash (TSXV: Rishi)
Company Profile
Weekly Benefits: 34.04 percent
market cap: C $ 14.02 million
Share price: C $ 0.315
SEZ Potash is a potash exploration company currently working to carry forward its portfolio of mineral holdings in Utah’s contradiction basin in the US.
The discovery of historical oil and gas in the basin dating in a century discovered potential for potash beds, but they were very deep for mining methods at that time. The sage has since confirmed his presence.
In a revised technical report from February 2023, the company reported an estimated mineral resource estimate of 120.2 million metric tonnes of silvinit from 159.3 million metric tons of in-place silvinite and lower potash bed from the upper potash bed.
Rishi did not release the news this week. However, the profit can be linked to tariff hazards, which will show 25 percent tariff applied to canadian imports including potash. Canada is the largest supplier of potash for America.
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Questions for Canadian Mining Stock
What is the difference between TSX and TSXV?
TSX, or Toronto Stock Exchange, is used by senior companies with large market cap, and TSXV, or TSX venture exchange is used by small-cap companies. Companies listed on TSXV can graduate in senior exchange.
How many companies are listed on TSXV?
By June 2024, 1,630 companies were listed on TSXV, of which 925 were mining companies. Comparatively, TSX was home to 1,806 companies, with 188 mining companies.
Together TSX and TSXV host about 40 percent of the world’s public mining companies.
How much does it cost to list on TSXV?
There are different types of fees that companies should pay to list on TSXV, and according to the exchange, they may vary depending on the nature and complexity of the transaction. The listing fee alone will be most likely between C $ 10,000 to C $ 70,000. Accounting and auditing fees can rack between C $ 25,000 and C $ 100,000, while legal fees are expected to exceed $ 75,000 and an underwriter commission can be a hit of up to 12 percent.
The exchange has a handful list of other fees and expenditure companies, in which the Safety Commission and the transfer agency fee, investor relationship cost and director and officer liability insurance are not limited.
All these are only for the initial list, of course. Once companies are trading, such as maintaining fees and additional listing charges, and the costs related to filing regular reports are running.
How do you trade on TSXV?
Investors can trade on TSXV in the way they will trade stock on any exchange. This means that they can use a stock broker or a personal investment account to buy and sell shares of TSXV-listed companies during the trading hours of the exchange.
Article by dean bed; Question by Lauren Kelly.
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Securities disclosure: I, Dean Belder, is not interested in any company mentioned in this article.
Securities disclosure: I, Lauren Kelly, no direct investment in any company mentioned in this article is interested in.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
