Top 5 Canadian Mining Stocks This Week: San | 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.

The results of US tariff threats on the US and Canadian economies have been mirrored in financial knowledge this week.

On Monday (March 3), the Atlanta Fed up to date its GDPNow model, forecasting a 2.8 % decline in Q1 GDP. Whereas the quantity has since been revised to a drop of 2.4 %, it nonetheless represents a close to 5 % lower from This fall 2024, when the US economic system grew by 2.3 %. If the numbers maintain it will mark the biggest drop in GDP because the pandemic.

Whereas that is solely a forecast based mostly on out there knowledge, it might signal the potential for a recession within the US beginning within the first half of 2025. The general state of the US economic system could come into higher focus when the US Bureau of Labor Statistics releases its February client price index knowledge on Wednesday (March 12) and the Federal Reserve hosts its Federal Open Markets Committee assembly the next week on March 18 and 19.

In Canada, Statistics Canada reported on Thursday (March 6) that the trade surplus with the US had reached a file C$14.4 billion in January, up 6.3 % from the C$12.3 billion recorded in December. The company mentioned the rise coincided with the growing tariff menace from the US as more producers south of the border started to stockpile Canadian imports.

StatsCan additionally launched its February labor pressure survey on Friday (March 7). The information confirmed that job growth had stalled during the month, with the national labor pressure including a internet whole of 1,100 new positions.

The figures have been nicely under estimates, as economists had anticipated 15,000 new jobs to be added to the Canadian economic system. The nation added 76,000 jobs the prior month.

The largest positive aspects in February got here from wholesale and retail trade, which added 51,000 new employees, whereas the most important contraction got here from 33,000 fewer jobs in skilled, scientific and technical providers.

​Markets and commodities react

US equity markets have been broadly down again this week.

The S&P 500 (INDEXSP:INX) misplaced 3.32 % to close the week at 5,770.16, and the Nasdaq-100 (INDEXNASDAQ:NDX) fell 4.09 % to twenty,158.31. The Dow Jones Industrial Common (INDEXDJX:.DJI) misplaced 2.5 % to 42,801.73.

In Canada, markets have been additionally in decline. The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) fell 0.63 % to close at 614.30 on Friday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.57 % loss to 24,758.76 and the CSE Composite Index (CSE:CSECOMP) dropped 2.77 % to 126.72.

Gold continued to trade in all-time high territory this week, gaining 1.8 % over the week to US$2,908.07 per ounce at 4:00 p.m. EST Friday. The silver price noticed a more important rise, including 4.32 % during the period to US$32.48.

In base metals, the copper price was up 2.61 % on the week, closing out Friday at US$4.72 per pound on the COMEX. In the meantime, the S&P GSCI (INDEXSP:SPGSCI) shed 0.44 % to close at 551.16.

​Prime Canadian mining shares this week

So how did mining shares carry out in opposition to this backdrop?

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

Knowledge for this text was retrieved at 4:00 p.m. EST on Friday utilizing TradingView’s stock screener. Solely firms trading on the TSX, TSXV and CSE with market capitalizations better than C$10 million are included. Firms within the non-energy minerals and power minerals sectors have been thought-about.

1. San Lorenzo Gold (TSXV:SLG)

Weekly gain: 328.57 %
Market cap: C$19.44 million
Share price: C$0.30

San Lorenzo Gold is an exploration company working to advance its Salvadora project within the Chañaral province of Chile.

The property consists of 25 exploration and 9 exploitation concessions masking an space of 8,796 hectares. It hosts a giant copper and gold porphyry system with a number of important targets. In line with the project web page, the positioning geology resembles that of the close by Codelco-owned Salvador copper mine, which has operated because the early Nineteen Fifties and is anticipated to proceed till the mid-2060s following an enlargement.

Shares in San Lorenzo noticed important positive aspects this week after it introduced a important discovery gap on Monday, the primary of three holes drilled at Salvadora’s Cerro Blanco gold-copper goal, in addition to partial outcomes from the three holes drilled at its Arco de Oro gold goal.

The invention gap at Cerro Blanco demonstrated grades of 1.04 grams per metric ton (g/t) gold, 1.0 g/t silver and 0.05 % copper over 153 meters, together with an intersection with 12.78 g/t gold, 6.5 g/t silver and 0.51 % copper over 3.8 meters.

The partial outcomes from Arco de Oro returned a highlighted outcome of 5.61 g/t gold over 6.6 meters, which included an intersection of 11.14 g/t gold over 2.3 meters. Copper outcomes from Arco de Oro are nonetheless pending.

The company mentioned it’s gratified to announce a discovery gap from the primary drill take a look at at Cerro Blanco, in addition to outcomes from Arco de Oro that affirm the robustness of the gold system there.

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2. Tidewater Renewables (TSX:LCFS)

Weekly gain: 74.23 %
Market cap: C$84.06 million
Share price: C$2.84

Tidewater Assets is concentrated on the manufacturing of low-carbon fuels from services in BC, Canada.

Its sole operation is a renewable diesel and hydrogen complicated positioned close to Prince George. The project has a nameplate capability of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. The plant started manufacturing during This fall 2023 utilizing feedstock that included soybean and canola oil.

The company is increasing the positioning to supply sustainable aviation fuel, which it plans to begin producing in 2028.

Tidewater shares gained this week after the company introduced on Thursday that it had suggested the Canadian Border Companies Company (CBSA) to provoke an anti-subsidy and anti-dumping responsibility investigation into imports of renewable diesel from the US. The release indicated that the CBSA confirmed that Tidewater had supplied enough proof to assist the allegations.

Tidewater expects that extra duties of between C$0.50 and C$0.80 shall be utilized to renewable diesel imports originating from the US, which would offer elevated market stability for Tidewater merchandise.

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3. Galantas Gold (TSXV:GAL)

Firm Profile

Weekly gain: 54.55 %
Market cap: C$10.9 million
Share price: C$0.085

Galantas Gold is a gold exploration and development company working to advance its flagship Omagh project, which is positioned west of Belfast, Northern Eire.

The project is positioned within a 189.2 sq. kilometer license space. The positioning is at present within the development stage and covers a whole space of 220 acres. It hosts an open-pit mine, processing plant, tailings facility and water clarification pond. Extra than 3 kilometers of underground mining have been accomplished and three,175 metric tons have been mined from six take a look at stops.

A June 2023 useful resource estimate from the positioning demonstrated a measured useful resource of 25,287 ounces of contained gold from 119,360 metric tons of ore grading 6.59 g/t gold, with an extra indicated useful resource of 153,671 ounces of contained gold from 730,702 metric tons of ore at a grade of 6.56 g/t. The inferred useful resource at Omagh exhibits 172,873 ounces of gold with grades of 6.24 g/t gold from 859,802 metric tons.

Shares in Galantas Gold noticed important positive aspects this week, however the company has but to release news in 2025.

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4. Jap Platinum (TSXV:ELR)

Firm Profile

Weekly gain: 42.86 %
Market cap: C$34.42 million
Share price: C$0.20

Jap Platinum, often known as Eastplats, is a platinum group metallic (PGM) and chrome mining, development and exploration company working to advance property in South Africa.

Its most superior asset is the Crocodile River mine, positioned northwest of Johannesburg. The mine started working in 1987, however manufacturing was suspended within the early Nineteen Nineties resulting from falling PGM costs. Since then, the mine noticed some restricted manufacturing within the early 2000s earlier than as soon as again being suspended.

After important rehabilitation, chrome and PGM manufacturing from website tailings was restarted on the website in 2018 and 2020 respectively, and underground operations on the Zandfontein mine restarted in October 2023. In October of final 12 months, Eastplats started commissioning a PGM processing plant that may course of ore from Zandfontein.

A technical report from Might 2022 demonstrated a confirmed and possible useful resource of 1.72 million ounces of platinum, palladium, rhodium and gold, with an average grade of 3.68 g/t from 14.58 million metric tons of ore.

Shares in Eastplats gained this week, though the company has not launched news in 2025.

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5. Sage Potash (TSXV:SAGE)

Firm Profile

Weekly gain: 34.04 %
Market cap: C$14.02 million
Share price: C$0.315

Sage Potash is a potash exploration company at present working to advance its portfolio of mineral holdings in Utah’s Paradox Basin within the US.

Historic oil and gasoline exploration within the basin courting back a century found the potential for the potash beds, however they have been too deep for mining strategies on the time. Sage has since confirmed their presence by means of its own exploration.

In a revised technical report from February 2023, the company reported an inferred mineral useful resource estimate of up to 159.3 million metric tons of in-place sylvinite from the higher potash mattress and up to 120.2 million metric tons of sylvinite from the decrease potash mattress.

Sage didn’t release news this week. Nonetheless, positive aspects may very well be tied to tariff threats that might see a 25 % tariff utilized to Canadian imports, together with potash. Canada is the biggest provider of potash to the US.

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

​What number of firms are listed on the TSXV?

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

Collectively the TSX and TSXV host round 40 % of the world’s public mining firms.

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

There are a selection of totally different charges that firms should pay to checklist on the TSXV, and in accordance with the exchange, they’ll range based mostly on the transaction’s nature and complexity. The itemizing charge alone will almost certainly price between C$10,000 to C$70,000. Accounting and auditing charges might 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 could hit up to 12 %.

The exchange lists a handful of different charges and bills firms 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 firms are trading, reminiscent of sustaining charges and extra itemizing charges, plus the prices related to submitting common stories.

​How do you trade on the TSXV?

Traders can trade on the TSXV the best way they’d trade shares on any exchange. This implies they’ll use a stock broker or an particular person investment account to buy and promote shares of TSXV-listed firms 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 writer and don’t essentially replicate these of Nasdaq, Inc.