Top 5 Canadian Mining Stocks This Week: Minsud | Commodities

Welcome to the Investing Information Community’s weekly take a look at the best-performing Canadian mining shares on the TSX, TSXV and CSE, beginning with a round-up of Canadian and US news impacting the useful resource sector.

Statistics Canada launched its January client price index (CPI) figures on Tuesday (February 18). The info confirmed that inflation ticked up on a yearly foundation to 1.9 p.c from the 1.8 p.c recorded in December. On a month-to-month foundation, CPI rose 0.1 p.c in January following a 0.4 p.c decline in December.

The rise in inflation was owed to a 5.3 p.c increase in power costs on an annualized foundation, primarily gasoline and natural gasoline, after recording a more modest 1 p.c gain the earlier month. Headlining the positive aspects was an 8.6 p.c leap in gasoline costs versus the identical period final 12 months and a 3.5 p.c increase over December.

The company additionally launched its December mineral manufacturing survey on Thursday (February 20). The report confirmed total will increase in copper, gold and silver manufacturing and shipments in comparison with November’s totals.

Copper manufacturing elevated by over 5 million kilograms to 38.93 million kilograms in December, up from 33.23 million kilograms the prior month. Shipments noticed a related increase, with 49.17 million kilograms shipped in comparison with 44.6 million kilograms shipped in November.

Gold manufacturing elevated to 17,325 kilograms from 16,573 kilograms in November. In the meantime, shipments of the valuable steel elevated even more, coming in at 23,217 kilograms in comparison with 14,332 kilograms in November.

As for silver, December noticed the best manufacturing and cargo ranges for silver in 2024. Silver manufacturing elevated to 33,074 kilograms, up considerably month-over-month from 24,959 kilograms. Silver shipments jumped even more at 36,984 kilograms, a appreciable uptick from November’s 23,709 kilograms.

In mining news, Anglo American (LSE:AAL,OTCQX:AAUKF) introduced that its 50.1 p.c owned subsidiary Anglo American Sur and Chilean state mining company Codelco signed a memorandum of understanding to create a framework for implementing a joint mining plan for the businesses’ adjoining Los Bronces and Andina mines in Chile.

Anglo American says the new working company will optimize the use of processing capability between the 2 mines. The businesses count on that the mines will produce an further 2.7 million metric tons of copper over a 21-year period beginning in 2030, and generate an further US$5 billion in pre-tax worth. The businesses will retain full possession of their respective properties.

​Markets and commodities react

US equity markets have been broadly down this week, with the S&P 500 (INDEXSP:INX) dropping 1.67 p.c to finish Friday (February 21) at 6,013.12 and the Nasdaq-100 (INDEXNASDAQ:NDX) falling 1.93 p.c to 21,614.08. The Dow Jones Industrial Common (INDEXDJX:.DJI) sank the furthest, down 2.89 p.c to 43.428.03.

In Canada, markets have been additionally in decline. The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) fell 2.48 p.c on the week to close at 634.69 on Friday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.15 p.c loss to hit 25,147.03 and the CSE Composite Index (CSE:CSECOMP) dropped 2.59 p.c to 132.46.

After hitting new all-time highs on Wednesday, the gold price remained in report territory on Friday, seeing a 1.78 p.c increase on the week to close at US$2,934.24 per ounce at 4:00 p.m. EST. Silver additionally noticed positive aspects this week, transferring up 1.22 p.c to US$32.52.

In base metals, the copper price was in decline this week, shedding 2.13 p.c all through the week to close at US$4.59 per pound on the COMEX. In the meantime, the S&P GSCI (INDEXSP:SPGSCI) was flat, shedding 0.08 p.c to close at 569.41.

​Prime Canadian mining shares this week

So how did mining shares carry out towards this backdrop?

We break down this week’s 5 best-performing Canadian mining shares beneath.

Information for this text was retrieved at 3:00 p.m. EST on Friday utilizing TradingView’s stock screener. Solely corporations trading on the TSX, TSXV and CSE with market capitalizations higher than C$10 million are included. Firms within the non-energy minerals and power minerals sectors have been thought of.

1. Minsud Assets (TSXV:MSR)

Firm Profile

Weekly gain: 47.06 p.c
Market cap: C$156.7 million
Share price: C$1

Minsud Assets is a copper exploration company targeted on advancing its operations in Argentina.

Its flagship project, Chita Valley, is positioned in San Juan and covers 19,883 hectares. The world hosts widespread porphyry copper-molybdenum-silver-gold mineralization and consists of three core properties: the Chita, Brechas Vacas and the Minas de Pinto mineral concessions. Minsud’s major goal is its Chinchillones deposit.

Shares in Minsud noticed latest positive aspects following the release of a technical report for Chita Valley on February 14 reporting its January maiden mineral useful resource estimate (MRE) for the Chinchillones deposit. The deposit’s complete indicated useful resource is 188 million metric tons (MT) of ore containing 466,000 MT of copper, 674,000 ounces of gold, 63.5 million ounces of silver, 6,800 MT of molybdenum and 291,000 MT of zinc.

The deposit additionally hosts an inferred useful resource of 573 million MT of ore containing 1.24 million MT of copper, 1.65 million ounces of gold, 166.6 million ounces of silver, 53,200 MT of molybdenum and 616,000 MT of zinc.

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2. Kapa Gold (TSXV:KAPA)

Firm Profile

Weekly gain: 32 p.c
Market cap: C$11.58 million
Share price: C$0.165

Kapa gold is an exploration company targeted on advancing the past-producing Blackhawk mine in San Bernardino County, California.

The project website consists of seven patented and 178 contiguous federal lode claims overlaying 1,496.2 hectares. The property hosts a number of mineralized zones with earlier exploration work revealing deposits with high grade gold, silver, lead and zinc. Historic manufacturing has seen grading from ramps and underground mines averaging 10 grams per metric ton (g/t) gold.

Kapa has not launched news since January 7, when it introduced that it was advancing baseline research and floor exploration at Blackhawk. The company stated the work was being carried out in preparation for a 2025 drill program, with information gathered getting used to determine drill targets.

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3. Energy Metals (TSXV:PWM)

Firm Profile

Weekly gain: 31.03 p.c
Market cap: C$160.67 million
Share price: C$1.14

Energy Metals is a lithium and cesium exploration company targeted on its Case Lake project.

Positioned in Northeastern Ontario, the positioning is 10 kilometers by 9.5 kilometers in measurement and includes 585 cell claims. Exploration on the website between 2017 and 2024 led to the invention of pegmatite dykes bearing lithium, cesium and tantalum (LCT). Case Lake now consists of six spodumene dykes that type a mineralization development of about 10 kilometers.

Assays from the positioning launched on February 14 included a spotlight of 8.07 meters grading 2.19 p.c lithium oxide, 5.19 p.c cesium oxide and 1,438 components per million (ppm) tantalum. The outcomes additionally included a 1 meter intersection bearing 1.85 p.c lithium oxide, 11.7 p.c cesium oxide and 208 ppm tantalum.

Along with its most up-to-date exploration news, Energy Metals introduced on February 10 that it had introduced on DRA International to start work on a maiden mineral useful resource estimate and preliminary financial evaluation for the Case Lake project. It expects to have the previous accomplished by the tip of Q1 2025, with the latter to observe in Q2.

Including to Energy Metals’ latest share positive aspects was a release on February 5 by which the company reported that it had been awarded a new exploration allow for Case Lake. The new allow will stay legitimate for the subsequent three years and will likely be used to focus on newly recognized cesium targets uncovered in late 2024.

Whereas the company didn’t release news this week, it continued its upward development from latest weeks.

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4. Minco Silver (TSXV:MSV)

Firm Profile

Weekly gain: 29.73 p.c
Market cap: C$12.82 million
Share price: C$0.24

Minco Silver is a development company working to advance its Fuwan silver project in China’s Guangdong province.

The property consists of three exploration permits overlaying a complete of 125.74 sq. kilometers. Exploration to this point has largely been targeted on an space internet hosting 2.8 kilometers by 10 kilometers of strike.

A 2009 feasibility research for the property included a complete possible reserve estimate of 55.3 million ounces of silver throughout 9.12 million metric tons of ore with an average grade of 189 g/t.

Shares in Minco have seen positive aspects this previous week however the company has not launched news.

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5. K2 Gold (TSXV:KTO)

Firm Profile

Weekly gain: 29.03 p.c
Market cap: C$24.65 million
Share price: C$0.18

K2 Gold is a gold exploration and development company with a portfolio of three property positioned in Canada and the US.

The company’s Wels project in Canada consists of 351 contiguous quartz claims overlaying 7,200 hectares close to Beaver Creek, Yukon. In accordance with the project web page, K2 says the deposit is much like Newmont’s (TSX:NGT,NYSE:NEM) close by 4 million ounce Espresso gold deposit.

Within the US, K2 owns its flagship Mojave gold project in Inyo County, California, which covers 5,830 hectares with 12 exploration targets. Along with gold, Mojave additionally accommodates mineralization of copper, silver, lead and zinc.

The company’s closing asset is the Si2 gold project in Esmeralda County, Nevada, US. The positioning consists of 118 Bureau of Land Administration lode claims overlaying 986 hectares within the Walker Land development. Exploration has indicated gold-bearing mineralization, with concentrated veins hosted by fault buildings at depth.

On January 17, K2 introduced that it signed an settlement with Orogen Royalties (TSXV:OGN) to speed up its acquisition of a 100% stake within the Si2 project.

The new deal will see K2 pay Orogen C$250,000 in money or common shares and a 2 p.c internet smelter return royalty to instantly purchase the property, changing a January 2022 deal by which K2 needed to make US$200,000 in money funds and C$2.3 million in exploration expenditures.

The release additionally included outcomes from an alteration research on Si2 drill core that decided the presence of an intact, low-sulfidation epithermal gold system.

K2 stated the acquisition “permits us the flexibleness to advance the project at our own tempo as we method the ultimate steps in allowing at K2’s flagship Mojave project.

The Firm’s most up-to-date news got here on February 21, when it stated it had elevated its beforehand introduced non-brokered personal placement to C$3 million in capital by way of the sale of 20 million models at a price of C$0.15 per share. The funds will likely be used for exploration and allowing on the Mojave gold project.

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FAQs for Canadian mining shares

​What’s the distinction between the TSX and TSXV?

The TSX, or Toronto Inventory Alternate, is utilized by senior corporations with bigger market caps, and the TSXV, or TSX Enterprise Alternate, is utilized by smaller-cap corporations. Firms listed on the TSXV can graduate to the senior exchange.

​What number of corporations are listed on the TSXV?

As of June 2024, there have been 1,630 corporations listed on the TSXV, 925 of which have been mining corporations. Comparatively, the TSX was home to 1,806 corporations, with 188 of these being mining corporations.

Collectively the TSX and TSXV host round 40 p.c of the world’s public mining corporations.

​How a lot does it price to record on the TSXV?

There are a selection of totally different charges that corporations should pay to record on the TSXV, and based on the exchange, they will fluctuate based mostly on the transaction’s nature and complexity. The itemizing price alone will more than likely price between C$10,000 to C$70,000. Accounting and auditing charges may rack up between C$25,000 and C$100,000, whereas legal charges are anticipated to be over C$75,000 and an underwriters’ commission might hit up to 12 p.c.

The exchange lists a handful of different charges and bills corporations can count on, together with however not restricted to security commission and switch company charges, investor relations prices and director and officer legal responsibility insurance coverage.

These are all only for the initial itemizing, of course. There are ongoing bills as soon as corporations are trading, equivalent to sustaining charges and extra itemizing charges, plus the prices related to submitting common studies.

​How do you trade on the TSXV?

Buyers can trade on the TSXV the way in which they might trade shares on any exchange. This implies they will use a stock broker or an particular person investment account to buy and promote shares of TSXV-listed corporations during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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Securities Disclosure: I, Dean Belder, maintain no direct investment curiosity in any company talked about on this article.

Securities Disclosure: I, Lauren Kelly, maintain no direct investment curiosity in any company talked about on this article.

The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.