Welcome to the Investing News Network’s weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.
On Wednesday (June 10), the Bank of Canada announced it would hold its benchmark interest rate at 2.25 percent.
In its release, the central bank cited several ongoing factors, including weakness in the Canadian economy, uncertainty stemming from US trade policy, and disruptions to energy and supply chains due to the war in the Middle East involving.
It also noted that despite a slowdown in GDP during the first quarter, new data were fueling expectations that second-quarter GDP would be more positive.
However, even though the Governing Council held the rate, it said it was ready to respond if needed.
On Wednesday, the Government of Ontario announced an investment of almost C$8 million in 18 projects through the Critical Minerals Innovation Fund (CMIF).
The investments are intended to accelerate the development of Canadian technologies and strengthen domestic supply chains tied to critical minerals in the province.
Recipients of the funding include:
- C$500,000 to Vale (NYSE:VALE) Canada for its ClearZone robotic arm, intended for use in hazardous operations in underground mines.
- C$400,000 to Destiny Copper to scale up its low-energy process to convert byproduct materials into copper powder.
- C$262,500 to Rock Tech Lithium (TSXV:RCK,OTCQX:RCKTF) to validate its process of using crude tall oil, which is a by-product of paper production, as a flotation reagent for lithium processing.
On June 4, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) announced it had signed key transportation agreements with CN Rail and Canadian Pacific Kansas City to transport material from its Jansen potash mine in Saskatchewan to the Westshore Terminals in Vancouver, British Columbia.
The deal with two of North America’s largest rail carries establishes a reliable supply chain network ahead of the start of operations at Jansen. The first phase is expected to come online in mid-2027, and the second phase in 2031. Once both phases are complete, the mine will produce approximately 8 million metric tons of potash annually.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were negative this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell 0.48 percent over the week to close Friday (June 12) at 34,937.85, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) slid 5.11 percent to 959.23.
The CSE Composite Index (CSE:CSECOMP) dropped 3.56 percent to 175.38.
The gold price fell 5.93 percent to close at US$4,210.91 per ounce on Friday at 4:00 p.m. EDT. The silver price fared worse, closing the week down 8.15 percent at US$67.90 on Friday.
In base metals, the Comex copper price recorded a 0.83 percent decline this week to US$6.48.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) sank 5.73 percent to end Friday at 667.18.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Arras Minerals (TSXV:ARK)
Weekly gain: 68.54 percent
Market cap: C$146.78 million
Share price: C$1.50
Arras Minerals is a copper and gold exploration company working to develop the Elemes project in Kazakhstan.
The property consists of two exploration licenses covering 531.2 square kilometers in the Pavlodar region. Copper mineralization was originally discovered at the site in the 1950s during an exploration program conducted by the Soviets.
The company has been active on the property through the first half of 2026 and has released several rounds of assay results.
Most recently, on June 9 Arras released assays for two holes designed to explore shallow breccias and better understand the porphyry mineralization encountered in two previous holes.
The company reported that one intersected a 935.9 meter interval starting at surface with an average grade of 0.51 grams per metric ton (g/t) gold and 0.19 percent copper. This included an intersection of 55 meters at 3.27 g/t gold and 1.22 percent copper starting from a depth of 162.1 meters.
The results confirm the target hosts a porphyry system to depths of over 900 meters, and extended the strike length of the breccias to more than 600 meters, Arras reported.
“Intersecting more than 900 meters of porphyry-style mineralization from surface is a very significant result that has materially advanced our understanding of the scale and potential of this target,” Arras CEO Tim Barry said.
2. SPC Nickel (TSXV:SPC)
Weekly gain: 54.55 percent
Market cap: C$29.6 million
Share price: C$0.085
SPC Nickel is an exploration company advancing a pair of projects in Nunavut and Ontario, Canada.
Its Muskox property is a copper, nickel and platinum group metals (PGM) exploration project in Nunavut, consisting of 26 mining claims and two prospector permits covering a total land area of 49,600 hectares. Mineralization at the site was first identified in the 1950s.
The company is also working on its advanced-stage Lockerby East project near Sudbury, Ontario.
A March 2024 resource estimate demonstrates an indicated in-pit resource of 179.1 million pounds of nickel from 19.23 million metric tons with an average grade of 0.42 percent nickel and an out-of-pit resource of 45.7 million pounds of nickel from 3.24 million metric tons grading 0.64 percent from the West Graham target.
At the LKE deposit, the estimate shows an additional 17.2 million pounds of nickel from 665,000 metric tons grading 1.17 percent.
Shares in SPC posted gains this week. The company has not released news since May 13, when it announced it had closed a non-brokered private placement, raising gross proceeds of C$4.97 million. The majority of that will be used for exploration expenditures.
3. Lighthouse Gold (CSE:LGHT)
Weekly gain: 35 percent
Market cap: C$21.8 million
Share price: C$0.135
Lighthouse Gold is an exploration and development company focused on projects in Guyana.
On February 3, the company announced that it entered into a definitive option agreement to acquire the Aurora NW project in Guyana. The property consists of four prospecting permits covering a total area of 4,799 acres in the country’s Cuyuni-Mazaruni region, and is located 7 kilometers from Zijin Mining Group’s (HKEX:2899,SHA:601899,OTCPL:ZIJMF) Aurora gold mine.
Two weeks after the acquisition, Lighthouse announced that it was preparing for a Phase 1 exploration program designed to evaluate the gold potential. Some activities the program will include are the review and reinterpretation of historical data, geological mapping, rock and stream geochemical surveys, and sampling of priority targets.
The company’s most recent news came on April 21, when it reported that it had begun exploration of the property.
In the release, Lighthouse also announced that it had hired Reshud Mc Lennan as the company’s exploration manager. He previously worked with Reunion Gold (TSXV:RGD) during the discovery of the Oko West project, and with Greenheart Gold (TSXV:GHRT), with which he led exploration programs in Guyana.
4. Clean Air Metals (TSXV:AIR)
Weekly gain: 27.27 percent
Market cap: C$15.03 million
Share price: C$0.07
Clean Air Metals is a platinum group elements (PGE) exploration company focused on its Thunder Bay North critical minerals project in Ontario, Canada.
The site lies within a region that hosts several mining operations, including the Lac Des Iles mine, owned by Impala Canada, a subsidiary of Impala Platinum Holdings (OTCQX:IMPUF,JSE:IMP).
A November 2025 technical report estimated an indicated resource of 622,000 ounces of platinum and 652,000 ounces of palladium from 14.9 million metric tons of ore grading 1.3 g/t platinum and 1.36 g/t palladium, plus nickel and copper resources.
It also provided economic results demonstrating a financial case for development of the project with an after-tax net present value of US$157.5 million and an internal rate of return of 32 percent, plus a payback period of 2.5 years. The figures were estimated using a base case platinum price of US$1,425 per ounce and a palladium price of US$1,225 per ounce.
Most recently, on June 1, Clean Air Metals released its annual financial statement for the fiscal year ending January 31, 2026. In addition to summarizing activities from the year, the company also outlined its current activities at the Thunder Bay North project, including finalizing targets for the next phase of drilling and planning for a new metallurgical test program to confirm toll mill performance.
5. Chesapeake Gold (TSXV:CKG)
Weekly gain: 26.62 percent
Market cap: C$259.87 million
Share price: C$3.71
Chesapeake Gold is a precious metals exploration and development company working to advance the Metates and Lucy projects in Mexico.
Metates is the more advanced of the two projects and is located northeast of Mazatlan. A July 2021 preliminary economic assessment (PEA) for the project indicated a post tax net present value of US$930 million, with an internal rate of return of 55.9 percent and a payback period of 1.6 years based on a gold spot price of US$1,786 per ounce.
According to a 2023 mineral resource estimate, Metates contains a measured and indicated resource of 16.8 million ounces of gold and 423 million ounces of silver from 921.2 million metric tons of ore with average grades of 0.57 g/t gold and 14.3 g/t silver.
The company also owns the less advanced Lucy project in Sinaloa, Mexico. The property covers 483 hectares and hosts zinc- and gold-bearing skarn systems. A 10 hole, 900 meter exploration program in 2024 produced one highlighted sample grading 6.11 g/t gold over 24 meters from surface.
Shares in Chesapeake posted gains this week, but the company has not released news. A corporate presentation released this month highlighted the company’s upcoming activities, including the start of preparation for a prefeasibility study and environmental baseline work towards its application for Metates permitting.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of March 2026, 906 mining companies and 71 oil and gas companies are listed on the TSXV, combining for 64 percent of the 1,524 total companies listed on the exchange.
The TSX is home to 176 mining companies and 50 oil and gas companies. The exchange has 2,149 companies listed on it in total.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity.
As of April 2026, the listing fee alone will most likely cost between C$10,000 to C$70,000, and accounting and auditing fees could rack up between C$25,000 and C$100,000. Legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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