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.
Statistics Canada launched its pure useful resource indicators report for the second quarter of 2025 on Thursday (September 25), which incorporates actual gross home product (GDP), export and import information for Canadian sources.
In accordance with the announcement, the true GDP for the sector decreased by 2.4 p.c throughout the quarter, following a 1.8 p.c rise within the first quarter, and outpaced the 0.4 p.c decline within the broader Canadian financial system.
Forestry noticed probably the most vital decline, with actual GDP falling by 4.9 p.c; nevertheless, declines had been felt all through the sector. Actual GDP of the power sector dropped 2.5 p.c, led by refined petroleum merchandise lowering 7.4 p.c and electrical energy lowering 3.5 p.c. Minerals and mining decreased 1.2 p.c, with main metallic mineral merchandise dropping probably the most within the class at 3.7 p.c.
Exports declined by 6.6 p.c, with forestry once more registering the most important lower at 15.5 p.c, adopted by power lowering 5.9 p.c and minerals and mining dropping 4 p.c. The reporting company famous that declines coincided with elevated tariffs on items, particularly metal and aluminum, getting into the USA.
In the meantime, imports elevated by 6.6 p.c throughout the quarter, following a 2.9 p.c rise within the first quarter, and had been primarily attributable to a 17.3 p.c improve in mineral and mining imports, which included a 35.4 p.c rise in metallic mineral merchandise.
In main mining information this week, Freeport-McMoRan (NYSE:FCX) introduced on Wednesday (September 24) that the closure of its Grasberg operations in Indonesia could be prolonged. The closure got here after 800,000 metric tons of liquid supplies entered its predominant Grasberg block cave on September 8, trapping seven staff. To this point, the our bodies of two staff have been recovered, and the remaining 5 staff are nonetheless lacking.
Operations at two underground mines that had been unaffected by the accident ought to restart mid-way by means of the fourth quarter, in accordance with the corporate, however operations on the Grasberg block cave is not going to return to full manufacturing till at the least 2027.
Grasberg is among the many largest copper and gold mines on this planet, contributing 1.7 billion kilos of copper and 1.4 million ounces of gold yearly.
The announcement triggered copper costs to surge by 5 p.c in buying and selling on Wednesday to US$4.84 per pound on the COMEX. In the meantime, shares in Freeport tumbled by 16.95 p.c to US$37.67 that day, and fell one other 6 p.c to US$35.46 on Thursday.
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 in constructive territory this week by the tip of buying and selling Thursday.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) set one other new report excessive this week, climbing above the 30,000 mark for the primary time on Tuesday earlier than retreating to shut Thursday at 29,731.98. The S&P/TSX Enterprise Composite Index (INDEXTSI:JX) carried out even higher, peaking at 929.64 Tuesday and ending the week at 920.18. For its half, the CSE Composite Index (CSE:CSECOMP) peaked on Wednesday at 168.38, however retreated to finish Thursday at 163.31.
The gold value continued to climb this week, setting one other new report, because it achieved an intraday excessive of US$3,788 per ounce on Tuesday. Whereas the worth retreated barely, it was nonetheless up 1.7 p.c on the week at US$3,749.21 by Thursday’s shut.
The silver value noticed extra vital beneficial properties, rising 8.14 p.c to set a year-to-date excessive of US$45.19 per ounce at 4 p.m. EST Thursday. The silver value is buying and selling at 14 12 months highs and has been closing in on its report US$47.91 set in March 2011.
Copper had sizable beneficial properties this week on the information of the closure of Freeport’s Grasberg mine mentioned above. The copper value was up 5 p.c on Wednesday, however shed some beneficial properties Thursday to finish the day with a weekly acquire of 4.12 p.c to US$4.80 per pound. The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) gained 1.54 p.c acquire to finish Thursday at 558.11.
Prime Canadian mining shares this week
How did mining shares carry out in opposition to this backdrop?
Check out this week’s 5 best-performing Canadian mining shares beneath.
Shares information for this text was retrieved at 4:00 p.m. EDT on Thursday utilizing TradingView’s inventory screener. Solely corporations buying and selling on the TSX, TSXV and CSE with market caps better than C$10 million are included. Mineral corporations inside the non-energy minerals, power minerals, course of trade and producer manufacturing sectors had been thought of.
1. Lithium Americas (TSX:LAC)
Weekly acquire: 126.93 percentMarket cap: C$2.02 billionShare value: C$9.94
Lithium Americas is a lithium improvement firm centered on advancing its flagship Thacker Move mission in Nevada, US, which is taken into account a important element of the US’s home lithium provide chain.
The mission is a 62/38 three way partnership between Lithium America and Normal Motors (NYSE:GM), with the latter investing US$625 million within the mission final 12 months for its stake. The businesses are presently working to advance Section 1 of the mission into manufacturing, focusing on a capability of 40,000 metric tons per 12 months of battery-quality lithium carbonate. First manufacturing is predicted in This fall 2027, and GM has the correct to purchase all Section 1 lithium manufacturing.
Shares within the firm surged this week following information stories on the standing of a US$2.26 billion mortgage from the US Division of Vitality (DOE). On Tuesday, Reuters reported that the White Home is looking for an fairness stake of as much as 10 p.c in Lithium Americas because it renegotiates the phrases of the mortgage. The corporate had deliberate to make its first draw from the mortgage this month, in accordance with Reuters’ sources.
On Wednesday, Lithium Americas famous its rising share value in a press launch concerning the state of affairs. The corporate acknowledged it was persevering with to work with the DOE and Normal Motors to achieve a mutually agreeable decision concerning the primary draw of the mortgage and potential amendments, noting discussions additionally included the subject of “corresponding consideration,” or honest compensation, for the lithium firm.
2. Scandium Canada (TSXV:SCD)
Weekly acquire: 75 percentMarket cap: C$20.09 millionShare value: C$0.07
Scandium Canada is a scandium exploration firm working to advance its Crater Lake scandium mission in Northern Québec, Canada. The property consists of 96 contiguous claims protecting an space of 47 sq. kilometers. Thus far, the corporate has recognized 5 main zones of curiosity at Crater Lake.
An up to date mineral useful resource estimate launched on Might 12 demonstrated an indicated useful resource of 16.3 million metric tons of ore at a median grade of 277.9 grams per metric ton (g/t) scandium oxide, plus an inferred useful resource of 20.9 million metric tons at 271.7 g/t. The MRE additionally included grades of different uncommon earths on the mission.
Positive factors in Scandium Canada’s share value started when buying and selling opened Tuesday, the day after Reuters reported on White Home plans to supply scandium oxide from Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), which produces scandium oxide from its facility in Québec.
The corporate’s shares continued rising all through the week. On Wednesday, Reuters reported that the Group of Seven nations is discussing instituting uncommon earth value flooring as a way to extend uncommon earth manufacturing of their nations to counter China’s dominance. The issues comply with the G7 leaders’ announcement of a important minerals motion plan in June, which goals to strengthen the Western provide of important minerals.
In firm information, on Thursday Scandium Canada introduced an replace on developments for its proprietary aluminum-scandium alloys, which it’s aiming to commercialize.
3. Sendero Assets (TSXV:SEND)
Weekly acquire: 64.58 percentMarket cap: C$14.74 millionShare value: C$0.79
Sendero Assets is a copper and gold exploration firm centered on its Peñas Negras copper-gold mission positioned alongside the border between Chile and Argentina within the Vicuña mining district.
Vicuña is house to a number of vital operations, together with the Josemaria and Filo del Sol copper-gold mines, that are 50/50 joint ventures between Lundin Mining (TSX:LUN) and BHP Group (ASX:BHP,NYSE:BHP,LSE:BHP).
Peñas Negras covers an space of 211 sq. kilometers in Argentina’s portion of the district and bears geological similarities to the aforementioned deposits, in accordance with Sendero.
Shares within the firm had been up this week, however the firm has not launched information since July 21, when it reported granting inventory choices to firm staff and consultants.
4. Tincorp Metals (TSXV:TIN)
Weekly acquire: 58.82 percentMarket cap: C$14.65 millionShare value: C$0.27
Tincorp Metals is a mineral exploration firm with a pair of tin belongings in Bolivia, and likewise owns a gold mission within the Yukon, Canada.
Its SF Tin mission covers a 2 sq. kilometer space within the Potosí Division of West-central Bolivia. The positioning hosts a historic open-pit mine and was beforehand explored by Rio Tinto within the Nineties. Tincorp’s 2022 exploration program encountered a highlighted intercept of 0.20 p.c tin, 0.94 p.c zinc, 0.17 p.c lead and 24.01 g/t silver over 182.6 meters.
The corporate’s Porvenir mission is an 11.25 sq. kilometer property in Western Bolivia that hosts historic open-pit and underground mining operations. Its exploration of the positioning in 2023 encountered a highlighted intercept with 0.65 p.c tin, 1.97 p.c zinc, 4 g/t silver and 0.10 p.c copper over 21.2 meters.
The newest information from Tincorp got here on September 17 when it introduced it had closed on a non-brokered personal placement for 3 million widespread shares for gross proceeds of C$375,000. The corporate stated it intends to make use of the online proceeds for working capital necessities and company functions.
5. Wealth Minerals (TSXV:WML)
Weekly acquire: 58.33 percentMarket cap: C$56.41 millionShare value: C$0.19
Wealth Minerals is a lithium exploration and improvement firm with a number of Chilean lithium brine belongings. A lot of its information in Q2 and Q3 has been about advancing its Kuska mission within the Salar de Ollagüe. The Kuska mission covers 10,500 hectares within the Antofagasta area close to the Bolivian border.
In Might, the corporate created the Kuska Minerals 95/5 three way partnership with the Quechua Indigenous Group of Ollagüe for the Kuska mission.
A February 2024 preliminary financial evaluation (PEA) for Kuska demonstrated an indicated useful resource of 139,000 metric tons of contained lithium from 8 million cubic meters of brine with a median grade of 175 milligrams per liter lithium. The report additionally demonstrated a post-tax web current worth of US$1.15 billion, with an inside charge of return of 28 p.c and a payback interval of 6.9 years.
In September 2024, the Chilean authorities chosen the Salar de Ollagüe to be among the many first group of six salars thought of for manufacturing licenses. Wealth utilized for a particular lithium operation contract (CEOL) for Kuska, however was denied attributable to not assembly the standards of 80 p.c possession of the realm designated by Chile, known as a polygon, that contained its concessions.
On Tuesday, the corporate reported that the Chilean authorities has reopened functions after simplifying the method for assigning a CEOL with revised necessities. Throughout session with the native Indigenous communities, the ministry agreed to exclude “the areas of biggest cultural curiosity to Indigenous communities and the populated areas that had been a part of the polygon.” Wealth Minerals is now verifying it meets all situations earlier than reapplying.
The next day, Wealth introduced that it had entered right into a letter settlement to amass the past-producing Andacollo Oro Gold mission in Chile. The mission has historic measured and indicated sources of two.02 million ounces of gold from 130 million metric tons with a grade of 0.48 g/t.
In accordance with the corporate, it believes the acquisition is the correct selection for shareholders because it expects the drivers of the present funding curiosity in gold, particularly fear about financial and financial insurance policies, to stay unchanged.
Moreover, in reference to the transaction, the corporate introduced it was opening a non-brokered personal placement for at least 41.67 million shares with the intention of elevating gross proceeds of C$5 million.
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 change.
What number of mining corporations are listed on the TSX and TSXV?
As of Might 2025, there have been 1,565 corporations listed on the TSXV, 910 of which had been mining corporations. Comparatively, the TSX was house 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 record on the TSXV?
There are a number of various charges that corporations should pay to record on the TSXV, and in accordance with the change, they will differ primarily based on the transaction’s nature and complexity. The itemizing payment alone will more than likely 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 change 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, after all. 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 stories.
How do you commerce on the TSXV?
Traders can commerce on the TSXV the way in which they might commerce shares on any change. This implies they will use a inventory dealer or a person funding account to purchase and promote shares of TSXV-listed corporations throughout the change’s buying and selling hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Do not forget to comply with us @INN_Resource for real-time updates!
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.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
