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.
Overall, the labor market remained strong in November, with the unemployment rate seeing little change at 4.2 percent, up from 4.1 percent in October. This was reflected by 7.1 million unemployed workers, up from 7 million the previous month. Meanwhile, the participation rate was also steady, recording a 0.1 percent decline to 62.5 percent.
The report is the final piece of data before the US Federal Reserve’s last policy meeting of 2024, which will occur on December 17 and 18. The central bank is expected to cut its benchmark interest rate by 25 points.
Find out how the five best-performing Canadian mining stocks performed against that backdrop.
Weekly gain: 200 percent
Market cap: C$22.67 million
Share price: C$0.15
Sanu Gold is working to advance its Bantabaye, Diguifara and Daina gold projects in West Africa’s Siguiri Basin in Guinea. They cover a combined 28,000 hectares, and all three sites have seen exploration in 2024.
Additionally, Sanu announced a non-brokered private placement for up to C$4.56 million. It is led by members of the Lundin Family, which is expected to gain a 10 percent stake in the company.
Weekly gain: 66.15 percent
Market cap: C$22.81 million
Share price: C$1.08
New Zealand Energy is an oil and gas producer focused on projects in New Zealand’s Taranaki Basin.
The firm has spent 2024 working to redevelop verified gas condensate reserves at the Tariki Field, starting with the Tariki-5 well in September and the Tariki-5A well in November. The projects are a 50 percent joint venture with L&M Energy.
Weekly gain: 58.82 percent
Market cap: C$17.04 million
Share price: C$0.135
Producer and developer Northern Graphite is the only miner of flake graphite in North America.
Northern highlighted substantial production volumes from the Lac des Iles mine and said it achieved record sales after moving production to a four-shift, seven-day-per-week schedule. The company also started permitting during the fourth quarter and said it expects a new open pit to be ready in the new year.
Weekly gain: 57.14 percent
Market cap: C$10.93 million
Share price: C$0.055
Athena Gold is an explorer focused on advancing its Excelsior Springs and Laird Lake projects.
Weekly gain: 54.76 percent
Market cap: C$13.54 million
Share price: C$0.65
Kingsmen Resources is an exploration company working to advance its Las Coloradas polymetallic project in the Parral mining district of Chihuahua, Mexico. The 845 hectare brownfield project consists of 15 mining concessions hosting mineralized silver, zinc, lead, gold, copper and zinc deposits.
The new Saddle target is between two prominent magnetic highs, where sediment and structures are prospective for precious metals anomalies. The company said geophysical data indicates the potential for significant blind mineralization, and it has added the find to its list of priority drill targets.
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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