Welcome to the 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 resource sector.
On Thursday (November 13), Canadian Prime Minister Mark Carney announced a second round of nation-building projects that will be referred to the Major Projects Office. The office was established earlier in the year to streamline the regulatory and funding processes for projects deemed to be in the national interest.
The first set of projects, announced on September 11, included support for the expansion of Newmont’s (NYSE:NEM,ASX:NEM) Red Chris mine in Northern BC, LNG Canada’s Phase 2 expansion of its facility in Kitimat, BC, and Foran Mining’s (TSX:FOM,OTCQX:FMCXF) McIlvenna Bay copper-zinc project in Saskatchewan.
According to the Prime Minister’s Office (PMO), the new set of projects represents more than C$56 billion in new investment and supports the creation of 68,000 new jobs.
Critical mineral projects on the list consist of:
- Canada Nickel Company’s (TSXV:CNC,OTCQX:CNIKF) Crawford project, which is located near Timmins, Ontario. The asset is being developed to produce low-carbon, high-grade nickel destined for green steel and battery products. The PMO anticipates the project attracting C$5 billion in investment.
- Nouveau Monde Graphite’s (NYSE:NMG,TSX:NOU) Matawinie graphite mine, located near Saint-Michel-des-Saints, Québec. The open-pit mine is focused on delivering graphite to support supply chains for batteries and defense. The PMO said the project is expected to generate C$1.8 billion in investment.
- Northcliff Resources’ (TSX:NCF,OTC Pink:NCFFF) Sisson tungsten-molybdenum mine, which is near Sisson Brook, New Brunswick. Once completed, the mine will deliver tungsten for use in steel production, defense and industrial applications.
Outside of critical minerals projects, the announcement included support for the Ksi Lisims liquefied natural gas (LNG) project near Prince Rupert in Northwest BC. The Nisga’a First Nation is leading the project and, when complete, it will become Canada’s second largest LNG facility after LNG Canada’s Kitimat facility. According to the PMO, the project is expected to generate almost C$30 billion in investment and create thousands of jobs.
Additionally, support will be made available for the North Coast Transmission line, which will provide low-cost electricity and improved telecommunications to communities along BC’s north coast. Likewise, the Iqaluit Nukkiksautiit hydro energy project will receive support to provide hydroelectric energy to communities in Nunavut and reduce the reliance on diesel imports.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were mixed this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) rose 1.89 percent over the week to close Friday (November 14) at 30,326.46. Meanwhile, the S&P/TSX Venture Composite Index (INDEXTSI:JX) rebounded to gain 1.33 percent to 879.88. The CSE Composite Index (CSE:CSECOMP) had another bad week, plunging 9.01 percent to close at 150.19.
The gold price rose significantly this week, climbing from its open of US$4,000 per ounce to US$4,243 by Thursday morning. However, it pulled back to end the week up 2.01 percent at US$4,080.64.
The silver price performed even better. After opening at US$48.35 per ounce, it tested all-time highs at US$54.31 on Thursday before ultimately ending the week up 4.57 percent at US$50.56.
Meanwhile, in base metals, the copper price gained 1.79 percent to reach US$5.11 per pound.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) rose 1.28 percent to end Friday at 559.27.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
Weekly gain: 157.14 percent
Market cap: C$40.63 million
Share price: C$0.09
Adex Mining is an exploration company that holds a 100 percent stake in the Mount Pleasant project in Southwest New Brunswick, Canada. The property contains two main deposits: the Fire Tower zone, which hosts tungsten and molybdenum mineralization, and the North zone, which hosts tin, zinc and indium.
The asset consists of 102 mineral claims covering 1,600 hectares, as well as equipment and facilities from historic mining operations conducted by BHP (ASX:BHP,NYSE:BHP,LSE:BHP) between 1983 and 1985.
According to its most recent investor presentation released on June 11, the property hosts the world’s largest indium reserve and North America’s largest tin deposit. Indicated resources for the North zone demonstrate contained metal values of 47 million kilograms of tin, and 789,000 kilograms of indium from 12.4 million metric tons with average grades of 0.38 percent tin and 64 parts per million indium.
Additionally, the company engaged Moneta Securities in June to oversee selling the mine following a strategic review.
Adex has not released news in the past week. However, Fire Tower bears similarities to Northcliff’s Sisson tungsten-molybdenum project in New Brunswick, which the Canadian government referred to the Major Projects Office on Thursday.
2. Trident Resources (TSXV:ROCK)
Weekly gain: 118.82 percent
Market cap: C$42.58 million
Share price: C$1.86
Trident Resources, formerly Eros Resources, is a gold and copper exploration company focused on projects in Saskatchewan, Canada. A three-way merger in early 2025 between Eros Resources, MAS Gold and Rockridge Resources allowed the companies to consolidate a portfolio of assets in Saskatchewan, including the Contact Lake and Greywacke gold projects in the La Ronge gold belt as well as the Knife Lake copper project.
Its primary focus has been on its flagship Contact Lake gold project, a 21,440 hectare property located near La Ronge, Saskatchewan. The project hosts four primary deposits: Contact Lake, Preview SW, Preview North and North Lake.
On Wednesday (November 12), the company released assay results from diamond drilling at Contact Lake, the first exploration conducted on the property in nearly 30 years. Highlights from the initial three holes included one hole with 7.03 grams per metric ton (g/t) gold over 43.25 meters, including an intersection of 30.06 g/t gold over 9.25 meters.
The company noted that, while it was still in the early stages of exploration at the property, it was encouraged by results that bore similarities to early results of other significant high-grade discoveries in the region.
3. Northcliff Resources (TSX:NCF)
Weekly gain: 116.22 percent
Market cap: C$279.18 million
Share price: C$0.40
Northcliff Resources is an explorer and developer advancing its Sisson tungsten-molybdenum project in New Brunswick, Canada. The 14,140 hectare property has seen extensive exploration dating back to the early 1980s.
A 2013 mineral reserve estimate demonstrates total proven and probable quantities of 22.2 million metric tons of tungsten oxide and 154.8 million pounds of molybdenum from 334.36 million metric tons of ore with average grades of 0.07 percent tungsten oxide and 0.02 percent molybdenum.
The project is currently in the development stage, and on Friday it was granted a five year etension to the construction commencement timeline by New Brunswick’s Department of Environment and Climate Change.
Construction is now anticipated to begin in December 2025.
The project was also one of six that were included in the second-tranche of Canadian nation-building projects referred to the Major Projects Office on Thursday. The inclusion on the list will give Northcliff access to a streamlined regulatory process and open funding assistance to facilitate the development of Sisson.
Commenting on the news, Northcliff Chairman, President and CEO Andrew Ing indicated the company is excited with its inclusion and that its goal is to contribute to building a resilient critical mineral supply chain.
The release also outlined significant financial funding received since the start of the year, including US$15 million from the US Department of Defense and C$8.21 million from Natural Resources Canada.
Weekly gain: 61.54 percent
Market cap: C$334.66 million
Share price: C$1.68
Canada Nickel is an explorer and developer advancing its flagship Crawford nickel sulfide project in Ontario, Canada. The property consists of 116 crown patents and 150 single- and multi-cell mining claims covering an area of approximately 9,600 hectares near Timmins and has seen exploration dating back to the 1960s.
A feasibility study released in October 2023 demonstrates the project’s economics, with a post-tax net present value of US$2.48 billion and an internal rate of return of 17.1 percent. The included ore reserve estimate outlines proven and probable reserves of contained metal values of 3.7 million metric tons of nickel, 9.7 million metric tons of chromium, 215,000 metric tons of copper, 777,000 ounces of palladium and 519,000 ounces of platinum.
The metal is contained in 1.72 billion metric tons of ore with average grades of 0.22 percent nickel, 0.57 percent chromium, 0.013 percent copper, 0.014 g/t palladium and 0.01 g/t platinum.
Shares of Canada Nickel rose sharply this week after Crawford was included in the second round of projects referred to the Canadian government’s Major Project Office.
In its release following the announcement, Canada Nickel’s CEO said that the company looks forward to working with the government and the MPO to secure financing and permits to begin construction at Crawford by the end of 2026.
He also stated that the project represents a secure, domestic supply of critical minerals, including nickel and North America’s only source of chromium.
5. Gold Terra Resources (TSXV:YGT)
Weekly gain: 57.89 percent
Market cap: C$51.71 million
Share price: C$0.15
Gold Terra is advancing the Con Mine gold property in Canada’s Northwest Territories. The project was initially acquired as part of a 2021 agreement with Newmont that gave Gold Terra the option to earn a 100 percent interest in the asset for meeting certain exploration milestones and regulatory approvals, along with a C$8 million cash payment to Newmont.
The agreement was amended in September 2024, extending the timeline by two years to November 21, 2027.
The property consists of 138 mining leases and 165 claims covering a total area of 79,046 hectares and hosts the historic Con Mine, which produced more than 6.1 million ounces of gold.
A mineral resource estimate included in an October 2022 technical report demonstrated a total inferred resource of 1.21 million ounces of gold from 24.3 million metric tons with an average grade of 1.54 g/t gold.
Shares of Gold Terra gained this week after the company announced a C$6.3 million non-brokered private placement that includes a strategic investment from Franco-Nevada (TSX:FNV,NYSE:FNV) co-founder David Harquail and existing shareholder Eric Sprott. The company said it will use proceeds for general corporate purposes and to fund a drilling program scheduled for January 2026 at the southern end of the Campbell Shear target at the Con Mine property. The program aims to expand the property’s indicated and inferred resources.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
From Your Site Articles
Related Articles Around the Web
