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.
Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Glencore (LSE:GLEN,OTCPL:GLCNF) stated they may not be pursuing a merger, with Rio Tinto noting that the mixture of the companies wouldn’t ship worth to its shareholders.
Glencore responded to Rio Tinto by saying that underneath the phrases of the proposal, the Rio Tinto govt group would retain each the chair and CEO roles, which might undervalue Glencore’s contribution to the mixed firm.
The deal would have created the world’s largest mining firm with a mixed market cap of US$260 billion. Whereas the collapse of the proposed merger is drawing headlines, it comes at an accelerated tempo for mergers and acquisitions within the trade, as majors search to replenish their undertaking pipelines and mid-cap producers look to develop their companies.
Amongst different notable mergers nonetheless on the books is Anglo American’s (LSE:AAL,OTCQX:NGLOY) merger with Canada-based Teck Sources (TSX:TECK.A,TECK.B,NYSE:TECK). That deal is at the moment working its method via regulatory approvals, with the latest replace that it’s heading towards antitrust clearance in Europe.
On Wednesday (February 11), Indonesia’s assets ministry ordered Eramet (EPA:ERA,OTCPL:ERMAF) and its three way partnership companions, Tsingshan Holding Group, to slash manufacturing on the world’s largest nickel mine.
Beneath the brand new work and finances plan, PT Weda Bay Nickel has been granted an preliminary quota of 12 million metric tons, down from the 42 million metric tons it was allowed in 2025.
Nickel has been elevated this 12 months, buying and selling as excessive as US$18,725 on February 2. Though costs have fallen since that top, the announcement gave nickel some momentum, pushing costs to US$17,720 per metric ton on the London Steel Change on Wednesday. Costs eased once more on Thursday (February 12), however stay properly above 2025 averages.
For extra on what’s shifting markets this week, take a look at our high market information round-up.
Markets and commodities react
Canadian fairness markets have been combined this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.88 % over the week to shut Friday (February 13) at 33,073.71, whereas the S&P/TSX Enterprise Composite Index (INDEXTSI:JX) shed 0.48 % to 991.99.
The CSE Composite Index (CSE:CSECOMP) dropped 2.7 % to 163.24
The gold worth was largely flat, dropping simply 0.07 % to shut at US$5,032.68 per ounce on Friday at 4:00 p.m. EST. The silver worth fared worse, closing the week down 8.43 % at US$76.92 on Friday.
In base metals, the Comex copper worth recorded a 2.35 % lower this week to US$5.83.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was down 0.13 % to finish Friday at 583.86.
High 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 firms buying and selling on the TSX, TSXV and CSE with market caps better than C$10 million are included. Mineral firms inside the non-energy minerals, vitality minerals, course of trade and producer manufacturing sectors have been thought of.
1. Trinity One Metals (TSXV:TOM)
Weekly acquire: 104.55 percentMarket cap: C$12.83 millionShare worth: C$0.45
Trinity One Metals is a silver exploration and growth firm with a portfolio of mineral initiatives, together with the just lately acquired Silver 1 undertaking in Ecuador.
The property consists of the Silver-1 mine concession, which covers an space of three,108 hectares and lies inside the similar mineral belt as Lundin Gold’s (TSX:LUG,OTCQX:LUGDF) Fruta Del Norte mine. Previous mining on the website occurred between 1989 and 1994 and included 3,600 meters of underground growth, together with a historic useful resource of 200,000 to 700,000 metric tons of ore averaging 400 to 800 grams per metric ton (g/t) silver and three g/t gold.
The corporate introduced the closing of the property acquisition on February 4 for a complete consideration of US$540,000. Within the launch, the corporate stated it’s going to work swiftly to verify the historic useful resource to trendy requirements.
The information was adopted on Tuesday (February 10), when the corporate introduced a C$3.3 million non-brokered non-public placement, which was upsized to C$5.3 million on Thursday. The corporate stated it’s going to use proceeds from the position to advance exploration initiatives throughout its portfolio.
2. Cordoba Minerals (TSXV:CDB)
Weekly acquire: 74.68 percentMarket cap: C$123.82 millionShare worth: C$1.38
Cordoba Minerals is an explorer whose flagship undertaking is Alacran in Colombia. The asset is a 50/50 three way partnership with JCHX Mining Administration (SHA:603979). The 20,000 hectare property hosts copper, gold and silver mineralization throughout 5 deposits: Alacran, Alacran North, Montiel East, Montiel West and Costa Azul.
A feasibility examine for the undertaking launched in February 2024 demonstrates an after-tax web current worth of US$360 million with an inner charge of return of 23.8 % and a payback interval of three years.
The useful resource estimate for the Alacran deposit and historic tailings reveals an indicated useful resource of 99.46 million metric tons of ore with a median grade of 0.41 % copper, 0.24 g/t gold and a pair of.65 g/t silver. Contained metallic totals 904.53 million kilos of copper, 765,400 ounces of gold and eight.47 million ounces of silver.
Following the completion of JCHX’s earn in for 50 % of the undertaking in July 2025, Cordoba stated it had entered right into a definitive settlement to promote its remaining 50 % curiosity in Alacran.
Nonetheless, on January 2, the corporate reported that not all circumstances for the sale had been met, and on Tuesday, introduced that it had entered into an amended settlement.
Beneath the brand new phrases, the closing cost was elevated to US$128 million from US$88 million, payable in a lump sum at closing. The discharge states that the majority of the money cost will probably be distributed to shareholders after settling liabilities and obligations, with the corporate retaining US$10 million for company functions.
3. Rio Silver (TSXV:RYO)
Weekly acquire: 52.38 percentMarket cap: C$23.74 millionShare worth: C$0.64
Rio Silver is an exploration firm advancing its Maria Norte undertaking in Peru.
The property has modified fingers a number of occasions within the 18 years previous to Rio’s acquisition in March 2025, however has seen little exploration throughout that point. Nonetheless, in a February 5 launch, the corporate notes that historic mining occurred on the website because of the presence of a reclaimed waste dump. The property covers the western portion of the Tangana West vein system, and though it has not but accomplished an financial evaluation for the property. Within the announcement, the corporate stated it plans to advance floor mapping and sampling within the third quarter of 2026.
All through January, the corporate made a number of bulletins relating to its exploration and growth timeline. On January 6, the corporate reported outcomes from technical work on the website, confirming the presence of silver mineralization with grades as much as 991 g/t in a 0.7-meter channel pattern.
The corporate additionally introduced on January 29 that it was launching a metallurgical program on the website, which it stated will help the corporate in figuring out the undertaking’s potential worth.
4. Barksdale Sources (TSXV:BRO)
Weekly acquire: 48.15 percentMarket cap: C$28.04 millionShare worth: C$0.2
Barksdale Sources is a copper explorer centered on advancing its Sunnyside asset in Arizona, US. The property covers roughly 21 sq. kilometers, south of Tucson, Arizona. It hosts an intrusive advanced that the agency believes to be an extension of the copper-zinc-lead-silver system discovered at South32’s (ASX:S32,OTCPL:SOUHY) Taylor deposit.
In 2025, the corporate achieved a number of milestones underneath its earn-in settlement and accomplished the preliminary 51 % in September following a C$1 million money cost. Previous to the cost in June, Barksdale stated it might work towards rising its curiosity within the property to 67.5 %.
On January 21, the corporate introduced plans to boost C$5 million to fund a Part 2 drill plan required to extend its possession stake within the Sunnyside undertaking.
On Wednesday, Barksdale introduced the opening of a further non-public placement to boost C$930,000. Funds raised from this spherical may even be used to fund exploration actions at Sunnyside.
5. Pirate Gold (TSXV:YARR)
Weekly acquire: 48 percentMarket cap: C$129.48 millionShare worth: C$0.37
Previously Sokoman Minerals, Pirate Gold is a discovery-oriented firm with a portfolio of gold initiatives and one of many largest land positions in Newfoundland and Labrador, Canada.
It additionally owns a 40 % stake within the Killick lithium undertaking, a 40/40/20 three way partnership with Benton Sources (TSXV:BEX,OTCPL:BNTRF) and Piedmont Lithium.
In October, the corporate mixed its Moosehead and Crippleback claims to kind the Treasure Island undertaking, which hosts the biggest mineral license and longest strike size alongside the Valentine Lake fault.
Together with new claims, Pirate Gold’s land holdings within the space cowl roughly 58,775 hectares and host a number of untested anomalies recognized via historic knowledge and exploration efforts by Pirate Gold.
On Friday, Pirate Gold introduced the initiation of project-scale surveys at Treasure Island, in addition to the development of a 50,000 meter drill program, with two rigs mobilized to the positioning.
Moreover, the corporate additionally stated it had acquired drill permits to function on the Crippleback Lake and Stony Lake areas, which might permit it to increase its exploration past the present footprint at Moosehead and take a look at different high-priority targets alongside the fault zone.
FAQs for Canadian mining shares
What’s the distinction between the TSX and TSXV?
The TSX, or Toronto Inventory Change, is utilized by senior firms with bigger market caps, and the TSXV, or TSX Enterprise Change, is utilized by smaller-cap firms. Firms listed on the TSXV can graduate to the senior trade.
What number of mining firms are listed on the TSX and TSXV?
As of December 2025, 898 mining firms and 71 oil and fuel firms are listed on the TSXV, combining for greater than 60 % of the 1,531 whole firms listed on the trade.
As for the TSX, it’s dwelling to 175 mining firms and 51 oil and fuel firms. The trade has 2,089 firms listed on it in whole.
Collectively, the TSX and TSXV host round 40 % of the world’s public mining firms.
How a lot does it value to checklist on the TSXV?
There are a selection of various charges that firms should pay to checklist on the TSXV, and in line with the trade, they will fluctuate based mostly on the transaction’s nature and complexity. The itemizing charge alone will most certainly value 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 could hit as much as 12 %.
The trade lists a handful of different charges and bills firms 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 firms are buying and selling, resembling sustaining charges and extra itemizing charges, plus the prices related to submitting common stories.
How do you commerce on the TSXV?
Buyers can commerce on the TSXV the best way they might commerce shares on any trade. This implies they will use a inventory dealer or a person funding account to purchase and promote shares of TSXV-listed firms through 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.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
