Welcome to the Investing Information Community’s weekly have a look at the best-performing Canadian mining shares on the TSX, TSXV and CSE, beginning with a round-up of Canadian and US information impacting the useful resource sector.
On Monday (January 19), Statistics Canada launched the buyer worth index (CPI) figures for December. The info confirmed an uptick in inflation to 2.4 p.c year-over-year, up from 2.2 p.c in November.
A lot of the rise was pushed by a 5 p.c enhance in grocery costs and an 8.5 p.c enhance in meals bought from eating places. StatsCan famous that the rise coincides with the GST/HST vacation that started on December 14, 2024, which primarily affected these two classes. The vacation ended on February 15, 2025.
Balancing out the rise had been declines in costs on the pump, with gasoline costs falling 13.8 p.c year-over-year, following a 7.8 p.c lower in November.
The reporting company additionally launched its annual CPI assessment on Monday. In that launch, StatsCan indicated that on an annual common foundation, CPI rose 2.1 p.c in 2025, after recording a 2.4 p.c enhance in 2024. The yr’s development fee additionally marked the smallest enhance since 2020. Nonetheless, over the previous 5 years, shopper costs have elevated by 19.9 p.c.
In 2025, vitality costs declined 5.7 p.c after a modest 0.6 p.c lower in 2024 because of the elimination of the carbon tax. However, grocery costs rose by 3.5 p.c in 2025, after a 2.2 p.c enhance in 2024.
Statistics Canada launched its November month-to-month mineral manufacturing survey on Tuesday (January 20). StatsCan famous that knowledge from September and October had been revised for this launch, with October’s figures for gold, silver, and copper manufacturing receiving downward revisions.
As for November’s numbers, gold manufacturing decreased to 18,086 kilograms in comparison with 18,342 kilograms in October. In the meantime, copper manufacturing rose to 39.7 million kilograms from 39.3 million kilograms, and silver manufacturing fell to 23,198 kilograms from 27,169 kilograms.
Gold shipments rose to 17,625 kilograms from 15,145 kilograms, and silver shipments grew to 27,799 kilograms from 26,207 kilograms. Copper shipments elevated to 45.87 million kilograms from 26.45 million kilograms.
This week additionally marked the newest assembly of the World Financial Discussion board in Davos, Switzerland. In a speech on the discussion board, Canadian Prime Minister Mark Carney made waves when he spoke of a rupture on this planet order and the significance for center powers to diversify their relationships amid the uncertainty that has arisen among the many world’s superpowers.
The speech was broadly hailed by world leaders, together with Mexico’s President Claudia Sheinbaum, Finnish President Alexander Stubb and California Governor Gavin Newsom, who mentioned, “I respect what Carney did as a result of he had braveness of convictions, he stood up, and I feel we have to get up in America and name this out with readability.”
Nonetheless, some US leaders had been much less complimentary, with US Commerce Secretary Howard Lutnik calling the speech “political noise.” It could even be among the many causes that US President Donald Trump rescinded his invitation for Carney to hitch his newly minted “Board of Peace” on Thursday (January 22).
For extra on what’s shifting markets this week, try our prime market information round-up.
Markets and commodities react
Canadian fairness markets had been blended this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 0.34 p.c over the week to shut Friday at 33,144.98, whereas the S&P/TSX Enterprise Composite Index (INDEXTSI:JX) fared higher, rising 5.53 p.c to 1,154.15. The CSE Composite Index (CSE:CSECOMP) went the opposite approach, dropping 0.39 p.c to shut at 187.36.
The gold worth continued to commerce at all-time highs this week, reaching US$4,989.94 on Friday afternoon. Total, it gained 7.96 p.c on the week to commerce at US$4,984.92 by Friday at 4:00 p.m. EST.
The silver worth carried out even higher, formally hitting triple digit silver when it broke above US$100 per ounce on Friday at new highs. It posted a weekly acquire of 11.19 p.c, closing Friday at US$102.72. Silver has gained almost 42 p.c because the begin of 2026 and 233 p.c from this similar time final yr.
In base metals, the Comex copper worth rose 1 p.c this week to US$5.98.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) rose 3.61 p.c to finish Friday at 584.13.
Prime Canadian mining shares this week
How did mining shares carry out towards this backdrop?
Check out this week’s 5 best-performing Canadian mining shares under.
Shares knowledge for this text was retrieved at 4:00 p.m. EST on Friday utilizing TradingView’s inventory screener. Solely corporations buying and selling on the TSX, TSXV and CSE with market caps higher than C$10 million are included. Mineral corporations inside the non-energy minerals, vitality minerals, course of trade and producer manufacturing sectors had been thought of.
1. Euro Manganese (TSXV:EMN)
Weekly acquire: 134.29 percentMarket cap: C$23.56 millionShare worth: C$0.41
Euro Manganese is a manganese improvement firm working to advance its Chvaletice waste recycling challenge. The operation is concentrated on extracting manganese from tailings which are a part of a decommissioned mine web site close to Prague, Czechia. As a part of the challenge’s scope, the corporate says it would perform remediation and reclamation work to convey the positioning into compliance with environmental laws.
A 2022 feasibility research for the Chvaletice challenge signifies that it’ll produce 48,000 metric tons of manganese per yr and is predicted to have a challenge lifetime of 25 years. Within the research, the corporate studies a post-tax internet current worth of US$1.3 billion with an inside fee of return of twenty-two p.c and a payback interval of 4 years.
Shares in Euro Manganese had been up this week, however the firm has not launched information since January 13, when it introduced that John Webster tendered his resignation from the corporate’s board of administrators.
Euro famous on Friday that it was unaware of any materials change in its operations that would have triggered the worth rise.
2. Kingfisher Metals (TSXV:KFR)
Weekly acquire: 106.35 percentMarket cap: C$38.24 millionShare worth: C$0.65
Kingfisher Metals is an exploration firm centered on its HWY 37 challenge positioned in British Columbia, Canada.
The property, positioned in BC’s Golden Triangle, covers 933 sq. kilometers and hosts a number of porphyry and epithermal copper and gold deposits, together with Hank and Williams, which had been recognized throughout historic exploration of the positioning.
On January 13, the corporate introduced extra outcomes from its 2025 exploration and drill program at HWY 37, releasing assays for 3 drill holes on the Williams deposit, two of which a few of Williams’ longest copper intercepts but. Kingfisher highlighted one gap, with grades of 0.47 p.c copper equal over 889.35 meters, beginning 3.65 meters from floor, which additionally included an interval of 1.16 p.c copper equal over 40 meters.
Then on Thursday (January 22), Kingfisher reported that it had acquired the ultimate outcomes from this system, this time within the type of a deep drill gap on the Hank epithermal gold-silver system. Whereas the opening intersected Hank’s typical mineralisation within the higher half of the opening, beginning at 534 meters it encountered a 425 meter interval grading 0.4 p.c copper equal.
The corporate mentioned this represented a blind discovery, with no earlier porphyry copper and gold mineralization being reported at Hank.
“The ultimate gap of the 2025 program validates our long-standing perception that the shallow Hank Au-Ag epithermal mineralization is pushed by a big porphyry Cu-Au system,” mentioned Kingfisher CEO Dustin Perry.
3. Core Important Metals (TSXV:CCMC)
Weekly acquire: 94.68 percentMarket cap: C$15.04 millionShare worth: C$1.83
Core Important Metals is an exploration firm engaged on its Timmins nickel challenge in Ontario, Canada. The corporate was beforehand generally known as Xander Assets however introduced in August that it was altering its identify to Core Important Metals.
The challenge holds a strategic place, with two properties totaling 393 claims positioned west alongside pattern from Canada Nickel Firm’s (TSXV:CNC,OTCQX:CNIKF) Crawford property and adjoining to Canada Nickel’s Reid discovery.
On Monday, Core Important Minerals issued a launch congratulating Canada Nickel on the success of Crawford’s improvement. It additionally famous Crawford’s inclusion for the second tranche of tasks from the Authorities of Canada’s Main Undertaking Workplace in November 2025, and the newer designation beneath Ontario’s One Undertaking, One Course of framework on January 13.
Moreover, the corporate introduced on January 15 that it had issued 1.24 million widespread shares to settle a C$400,000 exploration debt with the seller of a property possibility settlement for the CNC West property. It adopted this information the subsequent day when it introduced a two-for-one inventory break up on January 16.
4. GoldHaven Assets (CSE:GOH)
Weekly acquire: 94.44 percentMarket cap: C$10.3 millionShare worth: C$0.35
GoldHaven Useful resource is an exploration and improvement firm advancing tasks in British Columbia and Brazil.
Its most up-to-date focus has been on its Magno challenge in BC’s Cassiar mining district. The property consists of 53 mineral claims masking 36,814.16 hectares and borders mineral claims held by Cassiar Gold (TSXV:GLDC,OTCQX:CGLCF) and Coeur Mining (NYSE:CDE).
The positioning hosts silver, lead and gold mineralization at Magno North, with extra portions of tin, indium and gallium. Porphyry targets at Magno West have proven mineralization with copper and molybdenum.
For the reason that begin of the yr, the corporate has launched a trio of updates from Magno.
The primary got here on January 6, when it introduced that preliminary assays from floor exploration confirmed the presence of silver, lead, zinc, tungsten and demanding minerals throughout a number of zones on the property. The discharge highlighted grades of as much as 2,370 grams per metric ton silver, 19.25 p.c zinc, 6,550 elements per million (ppm) tungsten and 334 ppm indium.
The second launch got here on January 14, offering extra info on its tungsten outcomes, noting that exploration confirmed anomalous tungsten mineralization on the historic Kuhn and Lifeless Goat showings, and located a brand new tungsten zone at Vines Lake.
The latest launch got here on Thursday when GoldHaven reported that indium grades on the web site present it’s a “significant crucial mineral part of the Magno system.” These elevated grades had been discovered to be restricted to the Magno and D Zones, in addition to the Kuhn and Lifeless Goat showings.
5. Ascot Assets (TSX:AOT)
Weekly acquire: 91.21 percentMarket cap: C$38.24 millionShare worth: C$1.74
Ascot Assets is a Canadian gold exploration and improvement firm centered on the negotiating the restart of mining operations at its Premier gold challenge, and on its Pink Mountain gold challenge.
The positioning is positioned inside the Golden Triangle space of Northern British Columbia, and hosts the Premier, Silver Coin and Huge Missouri deposits, in addition to considered one of solely three mills within the area.
Manufacturing on the mine started in April 2024, however operations had been positioned on care and upkeep in September 2024. On the time, the corporate mentioned it had fallen not on time in creating the mine and didn’t have sufficient materials to feed the mill.
In an replace from April 2025, the corporate mentioned it was anticipating the mine would restart in early August at an preliminary fee of 1,250 metric tons per day. Nonetheless, on June 25, Ascot introduced that the mine wouldn’t restart as negotiations with mining contractor Procon Mining concerning the price of mining companies had stalled.
On October 23, the corporate introduced that the mine would stay on care and upkeep and that it had engaged Fiore Administration to help with restructuring, refinancing and enhancing the management crew at Ascot.
Since that point, the corporate has launched a fundraising effort, with the newest information on December 31, when it introduced it had closed the primary tranche of a non-public placement elevating C$809.1 million.
In that launch, President and CEO Robert McLeod acknowledged that additional detailed updates on Ascot’s plans, as nicely a proposed rebrand, can be coming within the weeks forward. “We consider the fast improvement of the high-grade, underground bulk-mineable Pink Mountain Undertaking is the important thing to the profitable commissioning and operation of a centralized mill to course of materials from the a number of deposits within the Golden Triangle.”
FAQs for Canadian mining shares
What’s the distinction between the TSX and TSXV?
The TSX, or Toronto Inventory Change, is utilized by senior corporations with bigger market caps, and the TSXV, or TSX Enterprise Change, is utilized by smaller-cap corporations. Corporations listed on the TSXV can graduate to the senior trade.
What number of mining corporations are listed on the TSX and TSXV?
As of Could 2025, there have been 1,565 corporations listed on the TSXV, 910 of which had been mining corporations. Comparatively, the TSX was residence to 1,899 corporations, with 181 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 checklist on the TSXV?
There are a selection of various charges that corporations should pay to checklist on the TSXV, and in accordance with the trade, they’ll fluctuate based mostly on the transaction’s nature and complexity. The itemizing price alone will most 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 authorized charges are anticipated to be over C$75,000 and an underwriters’ fee might hit as much as 12 p.c.
The trade lists a handful of different charges and bills corporations can count on, together with however not restricted to safety fee and switch company charges, investor relations prices and director and officer legal responsibility insurance coverage.
These are all only for the preliminary itemizing, in fact. There are ongoing bills as soon as corporations are buying and selling, comparable to sustaining charges and extra itemizing charges, plus the prices related to submitting common studies.
How do you commerce on the TSXV?
Buyers can commerce on the TSXV the way in which they might commerce shares on any trade. This implies they’ll use a inventory dealer or a person funding account to purchase and promote shares of TSXV-listed corporations in the course of the trade’s buying and selling hours.
Article by Dean Belder; FAQs by Lauren Kelly.
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Securities Disclosure: I, Dean Belder, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Lauren Kelly, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Homeland Nickel is a consumer of the Investing Information Community. This text isn’t paid-for content material.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
