This week’s tech market round-up

The tech space was marked by heightened volatility this week, with sharp swings driven by concerns over inflated artificial intelligence (AI) valuations and mixed economic data.

Global markets gained early in the week, driven by optimism over a US-China trade truce, along with a US$38 billion AI cloud deal between OpenAI and Amazon (NASDAQ:AMZN).

However, gains were tempered following comments from the Global Financial Leaders’ Investment Summit in Hong Kong, where Goldman Sachs (NYSE:GS) CEO David Solomon warned of a likely 10 to 20 percent pullback in equities within the next 12 to 24 months. Other panelists at the event offered similar projections.

Futures tracking the S&P/TSX Composite Index (INDEXTSI:OSPTX) weakened ahead of the release of Canada’s federal budget, which promises C$925.6 million for sovereign compute capacity, quantum tech funding and support for open banking and stablecoins. The government aims to attract C$500 billion in private sector investment over five years.

US tech stocks sold off again on Wednesday (November 5) amid uncertainty over the Supreme Court’s tariff ruling and short positions by Michael Burry on NVIDIA (NASDAQ:NVDA) and Palantir Technologies (NASDAQ:PLTR).

A stronger-than-expected ADP report helped stabilize the tech sector midday, but October jobs data weighed on markets again Thursday (November 6), cooling risk appetite, especially for AI momentum stocks.

Wall Street’s main indexes extended losses to a second session on Friday (November 7) and posted weekly declines as the Volatility Index (INDEXCBOE:VIX) hit its highest level in a fortnight, just one week after the S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) notched their longest winning streak in four and seven years, respectively.

Traders were pricing in a 70.2 percent chance of a 25 basis point interest rate cut from the US Federal Reserve in December at the time of this writing, down from 90 percent last week.

3 tech stocks moving markets this week

1. Palantir Technologies (NASDAQ:PLTR)

Palantir reported a strong Q3 earnings beat with a year-on-year revenue increase of 63 percent to US$1.18 billion, exceeding analyst expectations of US$1.09 billion.

Earnings per share were also above forecasts, coming in at US$0.21 compared to expectations of US$0.17.

The company’s total contract value rose to US$2.76 billion, a record high, driven by a 121 percent rise in US commercial revenue and a 52 percent increase in US government revenue.

The company also raised its full-year 2025 revenue guidance to around US$4.4 billion, driven by continued strong AI demand and government contracts. On the earnings call, management expressed confidence in continued growth fueled by AI, emphasizing strategic partnerships with companies like NVIDIA, while acknowledging challenges in the European market and operational scaling.

However, Palantir’s share price dropped about 3 percent in after-hours trading. Analysts attributed the market reaction to concerns over the prolonged US government shutdown potentially impacting contracts, alongside a large bearish bet revealed by Michael Burry’s fund.

The company’s stock is down 14 percent for the week.

2. Amazon (NASDAQ:AMZN)

Shares of Amazon rallied on Monday morning after announcing a US$38 billion multi-year partnership with OpenAI to run its advanced AI workloads on Amazon Web Services (AWS) infrastructure, providing access to hundreds of thousands of NVIDIA GPUs and specialized AWS chips.

The deal significantly strengthens AWS’s position in the AI cloud market. Investors had a marked reaction to the news, driving Amazon’s shares price to a record high of US$US$254.

However, gains were partially erased during the broader tech sector pullback. Its stock ultimately closed the week down 4.28 percent.

3. NVIDIA (NASDAQ:NVDA)

Shares of NVIDIA have been dragged down this week due to valuation concerns and fears related to US export restrictions on advanced AI chips to China.

During a 60 Minutes interview with Norah O’Donnell on Sunday (November 2) evening that covered a range of topics, President Trump stated NVIDIA’s most advanced AI chips would be reserved exclusively for US companies. The market reacted by sending shares of NVIDIA (up or down?) on Monday morning.

Also on Monday, Microsoft provided an update on its US$15.2 billion planned investment in the UAE, which will include increasing its AI computing power in the UAE by four times to reach the equivalent of 60,400 NVIDIA A100 GPUs in compute power in the country.

NVIDIA shares, also boosted by Loop Capital raising its price target by US$100, rose by over four percent from Friday’s closing price in early trading.

However, a large bearish position against NVIDIA was disclosed from Burry’s fund on Wednesday, adding to downward pressure already on its shares amidst a tech stock sell-off.

During a Thursday press conference, White House Press Secretary Karoline Leavitt told reporters that Trump “was not interested in selling (the Blackwell chip) to China at this time”.

Meanwhile, during the Financial Times’ Future of AI Summit, NVIDIA CEO Jensen Huang said the West is being held back by “cynicism” and reportedly told the outlet, “China is going to win the AI race.”

Huang has previously warned that US restrictions could backfire by accelerating China’s domestic chip development, arguing the US should stay engaged with Chinese developers to maintain leadership. The company’s shares are down 9.53 percent for the week.

NVIDIA, Palantir and Amazon performance, November 3 to 7, 2025.

Chart via Google Finance.

Top tech news of the week

Tech ETF performance

Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of different sectors.

This week, the iShares Semiconductor ETF (NASDAQ:SOXX) declined by 4.81 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw a weekly loss of 5.2 percent.

The VanEck Semiconductor ETF (NASDAQ:SMH) decreased by 5.41 percent.

Tech news to watch next week

Next week, investors will hear earnings results from Cisco Systems (NASDAQ:CSCO), due to report its Q1FY26 earnings on November 12. The company is expected to deliver a year-on-year increase in earnings on higher revenues. Semiconductor equipment supplier, Applied Materials, is also set to report its Q4 earnings on November 13.

AMD will have its Financial Analyst Day on Tuesday (November 11), providing further strategic updates and outlook.

Analysts and investors will also be watching for any sign of an end to the 38-day government shutdown after Senate Minority Leader Chuck Schumer (D-NY) unveiled a plan to attach a one year extension to the expiring Obamacare subsidies and to create a bipartisan committee that could negotiate further on how to deal with the subsidies after the government reopened. Majority leader John Thune reportedly told CBS News that the Democratic proposal is a ‘nonstarter’.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$103,902, a 3.0 percent decrease in 24 hours. Bitcoin’s highest valuation as of Friday was US$103,421, while its lowest was US$99,931.52

Bitcoin price performance, November 7, 2025.

Chart via TradingView.

Bitcoin continues to extend its slide as it heads for another week of losses. The world’s largest cryptocurrency slipped more than 20 percent from its early October record high and confirming entry into bear-market territory.

The losses mark Bitcoin’s second consecutive week in the red and its fourth down week in the past five, reflecting the market’s struggle to recover from October’s “Red October” slump. Data showing a sharp rise in US layoffs in October, the highest in two decades, fueled expectations of further Federal Reserve rate cuts in December.

Despite this, President Trump reaffirmed his administration’s pro-crypto stance this week, calling for the US to become the “Bitcoin superpower” and touting regulatory measures to bolster the digital asset sector. However, his remarks stopped short of signaling direct government purchases of crypto.

Analysts say Bitcoin is now hovering near a crucial technical threshold around $97,000. Trader Ted Pillows noted that Bitcoin is “holding above the $100,000 level for now,” but warned that ‘until BTC closes a strong daily candle above the $106,000 level,’ investors must brace and expect new lows moving forward.

Ether (ETH) was priced at US$3,338.69, a 4.1 percent increase in 24 hours. Its lowest valuation of the day was US$3,229.48, and its highest was US$3,397.60.

Like Bitcoin, Ethereum extended its decline and is struggling for recovery as it it slipped below the US$3,300 mark. While bearish strength remains moderate, the fact that prices continued to drop even after a major liquidation event suggests that spot sellers may now be in control.

Altcoin price update

• Solana (SOL) was priced at US$157.08, down by 3.1 percent over the last 24 hours. Its highest valuation of the day was US$160.86, while its lowest was US$152.27

• XRP was trading for US$2.22, down by 4.8 percent over the last 24 hours. Its highest valuation of the day was US$2.30, while its lowest was US$2.17.

Crypto derivatives and market indicators

The cryptocurrency market showed mixed but cautious action.

Liquidations for contracts tied to Bitcoin totaled approximately US$48.39 million in the last four hours, with the overwhelming majority coming from long positions showing a clear sign of forced selling as leveraged positions were flushed. Ether followed the same pattern: about US$25.82 million of liquidations over the same window, again dominated by longs.

Futures open interest tells a similar story of modest unwind. Future open interest for Bitcoin edged down 0.03 percent to US$69.44 billion, while Ether declined 1.92 percent to US$38.19 billion, reflecting a slight pullback in leverage as the session closed.

Technically, Bitcoin’s RSI at 30.81 sits near oversold territory, signaling weak momentum and that the market may be vulnerable to continued downside or, alternatively, due for a short-term relief bounce if buyers step in.

Today’s crypto news to know

Crypto market loses nearly all 2025 gains after month-long decline

The cryptocurrency market has erased almost all of its 2025 value increase in just over a month, marking one of the steepest reversals since the last bear cycle.

According to data reported by Bloomberg, total market capitalization peaked near US$4.4 trillion on October 6 before sliding 20 percent, leaving the asset class up only about 2.5 percent for the year.

The decline began after roughly US$19 billion in leveraged positions were liquidated that sparked a wider selloff and weakening trader sentiment.

Bitcoin has fallen 8 percent this week alone, dropping below its 200-day moving average for the first time in three years. Altcoins have faced similarly sharp losses amid reduced liquidity and limited new inflows.

Japan’s financial regulator backs bank-led stablecoin pilot

Japan’s Financial Services Agency has confirmed it will support a project by the country’s three largest banks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group — to jointly issue stablecoins for cross-border payments.

In a Reuters report, finance Minister Satsuki Katayama said the FSA will oversee legal and operational compliance as the initiative moves into testing.

The banks intend to issue yen-pegged tokens under Japan’s revised Payment Services Act, which requires full asset backing and enhanced consumer safeguards.

The JPYC recently launched its first fully regulated yen-denominated stablecoin backed by domestic savings and government bonds.

UNDP to launch global blockchain training program for governments

The United Nations Development Programme is expanding its blockchain education initiatives to include government officials, aiming to accelerate digital infrastructure adoption in the public sector.

Robert Pasicko, who leads UNDP’s Alternative Finance Lab, said four countries will be selected for the initial rollout within weeks. The program builds on UNDP’s internal blockchain academy and will include both training and hands-on project support.

Research by UNDP identified over 300 potential government applications for blockchain technology, from transparent fund tracking to public-sector payments.

Twenty-five major blockchain organizations, including Polygon Labs, Stellar Foundation and the Ethereum Foundation, have discussed forming an advisory group under UNDP coordination.

Investor Insight

Bold Ventures Inc. is a Canadian mineral exploration company poised for discovery. The company is advancing a portfolio of precious, battery, and critical metals projects in Tier-1 jurisdictions across Ontario and Quebec. Through systematic exploration and targeted acquisitions, Bold is positioned to meet rising global demand for gold, copper, nickel and critical minerals essential to North America’s electrification plans.

Overview

Bold Ventures (TSXV:BOL) is a Canadian mineral exploration company advancing a diversified portfolio of gold, copper, nickel and critical mineral projects across Ontario and Quebec, both consistently ranking among the safest and most mining-friendly in the world.

Bold’s balanced approach to both precious and critical metals aligns with two powerful global themes: the enduring demand for gold and silver as stores of value, and the accelerating transition to electrification and clean energy requiring copper, nickel and chromium.

Bold’s assets are concentrated in three prolific mining districts of Northern Ontario – Thunder Bay West, Wawa West and the James Bay Lowlands (Ring of Fire) – each offering significant exploration upside and logistical advantages.

Thunder Bay West hosts Bold’s most advanced gold and copper properties – Burchell, Traxxin and Wilcorp – within the geologically rich Shebandowan Greenstone Belt, home to multiple active and past-producing mines.

Wawa West, anchored by the Farwell gold-copper project, sits within a historically productive gold camp with strong indications of both precious and base metal VMS-style mineralization.

The Ring of Fire, in the James Bay Lowlands, is Bold’s long-term critical-mineral growth platform. The company’s Koper Lake project includes a carried interest in the Black Horse Chromite Deposit — one of North America’s most significant undeveloped sources of chromium — as well as substantial nickel, copper and PGE potential in the surrounding claim blocks.

Complementing this Ontario portfolio, Bold added two high-quality exploration-stage assets in 2024–2025: the Springdale East gold project near Red Lake, Ontario, and the Joutel gold and base metal project in Quebec.

Underpinning this portfolio is a leadership team with decades of exploration experience and direct involvement in three world-class discoveries — Eagle River, Windfall Lake and the Ring of Fire deposits. This record of success, combined with a pipeline of highly prospective targets now moving toward the drill stage, positions Bold Ventures to deliver steady exploration progress and value creation across a range of commodity markets.

Company Highlights

• Bold Ventures explores for precious, battery and critical metals in Canada, with active exploration projects in the Thunder Bay West, Wawa West and James Bay Lowlands (Ring of Fire) regions.
• The company’s flagship Burchell gold-copper project has advanced through new discoveries, sampling and mechanical stripping programs completed in 2025.
• Bold holds a carried interest in the Black Horse Chromite deposit at Koper Lake, adjacent to Ring of Fire Metals’ Eagle’s Nest nickel-copper deposit – a key critical-minerals hub for Ontario.
• Recent exploration success at the Wilcorp property revealed a new style of gold-silver-copper mineralization, adding significant upside potential.
• The company also owns and continues to evaluate its Traxxin Gold, Farwell Gold-Copper, Springpole East Gold, and Joutel Gold-Base Metal projects.
• Bold’s management and technical teams have participated in three world-class discoveries – Eagle River, Windfall Lake and the Ring of Fire deposits – providing deep operational and geological expertise.

Key Projects

Burchell Gold and Battery Metals Project

The Burchell property (242 claims covering 4,607 ha) lies about 100 km west of Thunder Bay, contiguous with Gold X2 Mining Inc.’s Moss gold project hosting the 6-Moz Moss Lake deposit.

Project Highlights:

• Western Shebandowan Greenstone Belt: The Burchell project is located in the Western Shebandowan Greenstone Belt, a high-potential, active mineral belt containing copper, gold, silver, nickel, zinc, molybdenum and other minerals.
• Contiguous with Significant Gold Property: The Burchell property is contiguous with Goldshore Resources’ Moss gold project. The Moss Lake gold deposit lies within a major 25 km NE-trending structural corridor which also hosts the past-producing North Coldstream Mine and the East Coldstream gold deposit.
• Exploration permits were granted (Aug 2025) for line cutting, stripping, geophysical surveys and diamond drilling. Mechanical stripping and channel sampling of the 111 Zone and seven additional targets have been completed (Sept 2025). Drilling preparations are underway.
• 111 Zone Discovery: Sheared, silicified volcanics returned values up to 68 grams per ton (g/t) gold and 2.1 g/t gold over 0.5 m; anomalous zone 4.5 to 6.5 m wide and open along strike and depth.
• Soil Geochemistry: MMITM soil survey identified gold, copper and molybdenum anomalies coincident with a magnetic low along strike of the Moss Trend.
• New Showings: “Winter Gold” (952 parts per billion gold, 300 parts per million silver), “Moosehead Zone,” and other targets outline a 2.9 km discontinuous gold trend across the property.

Burchell Property Major Showings and Land Position

Traxxin Gold Project

The 100 percent owned Traxxin gold project is 130 km west of Thunder Bay and has 217 claims covering 4,043 hectares. The project has excellent existing infrastructure and is road-accessible, located between two major highways, cutting down on future development costs.

Project Highlights:

• Close Proximity to Significant Gold Deposit: The project is 40 km east of Agnico Eagle’s Hammond Reef deposit, which contains 5.6 Moz of gold at 0.71 g/t, including reserves, measured and indicated.
• Promising New and Historical Exploration Results: The 2021 drill hole campaign results indicated 3.6 g/t gold over 12.3 meters, including 6.13 g/t gold over 4.88 m.
• A joint venture with Lac des Mille Lacs First Nation (LDMLFN) continues to advance the project.
• Future plans include geophysical extension of the Main Zone northward and testing southern targets.

Farwell Gold-Copper Project

Located 55 km NW of Wawa, the 6,440-hectare Farwell project hosts gold-bearing quartz veins and base-metal VMS-style mineralization. Recent VTEM and magnetic surveys identified multiple targets for follow-up drilling. Geological and geophysical modelling was completed in 2025 to refine priority zones for testing in 2026.

Project Highlights:

• Promising Geological Formations: The claim group hosts gold-bearing quartz veins located within an iron formation that stretches along the western extensions of a major deformation zone. Additionally, there is base metal volcanogenic massive sulphide (VMS) style mineralization of copper, zinc, lead and silver. The property also features deformed ‘Timiskaming’ style conglomerates along the gold mineralizing trend (similar to Kirkland Lake, Geraldton).
• Exploration Highlights and Future Drill Targets: A VTEM survey has identified multiple anomalous areas for future drilling. Additional results and interpretation were incorporated into the existing database for future exploration and drill testing.
• Nearby existing infrastructure: Less than 2 km west of the Eagle River gold mines haulage road and is located approximately 6 km from the Eagle River Mill complex that also connects to major highways.

Wilcorp Gold Project

The Wilcorp property spans 264 ha with 18 staked and four patented claims. The project is located 17 km south of Hammond Reef and 32 km west of Traxxin.

Project Highlights:

• Historical Results: The Eagle prospect area has significant historical gold discoveries. Maps from 1946 indicate values up to 11.1 g/t gold over 4.1 m including 30.8 g/t gold over 0.8 m in core (unsubstantiated in the modern era). Recent values include up to 16.3 g/t gold in an area where 1990s drilling returned 1.8 g/t gold over 7.6 m.
• Sampling Results: In 2012, 62 grab samples ranged from <5 ppb gold up to 14,403 ppb gold (14.4 g/t gold), and in 2024, 39 grab samples ranged from <5 ppb gold up to 16,300 ppb gold (16.3 g/t gold).
• Geological Setting: The property is proximal to the Quetico Fault, a major east-west fault zone. Gold mineralization is hosted in shear zones in volcanic and dioritic rocks which are subparallel to the Quetico Fault.

Koper Lake Project (Ring of Fire)

The Koper Lake property (1,024 ha) is one of Bold’s long-term critical-metal assets, located within 300 m of Ring of Fire Metals’ Eagle’s Nest nickel-copper deposit.

Project Highlights:

• Multiple Commodity Streams: The Koper Lake project has significant potential for critical minerals, with potential to develop battery metals, chromite and precious metals for multiple revenue streams.
• Black Horse Chromite Deposit: NI 43-101 inferred resource of 85.9 Mt grading 34.5 percent Cr₂O₃ (at 20 percent cut-off). Bold owns a 10 percent carried interest through to production in chromite, and a 40 percent working interest in all other metals, with a right of first refusal on a 1 percent NSR.
• All Other Metals Ownership Interests: Bold 40 percent working interest, KWG 60 percent working interest; Bold has option to earn up to 80 percent working interest leaving KWG with a 20 percent working interest.

Ring of Fire Claims

The Ring of Fire asset is a future key project that will be given further attention as the Ring of Fire regional infrastructure and First Nation agreements are developed.

Project Highlights:

• The Ring of Fire Claims project is a grassroots exploration project that has significant potential targeting the battery metals nickel, copper and platinum group elements.
• Bold carried out a VTEM airborne survey in 2013 that located numerous geophysical anomalies that are prospective for battery metals.
• Further exploration is pending the development of access, infrastructure and First Nation agreements.

Springpole East Gold Project

The Springpole East gold project covers 4,180 hectares across 208 single-cell claims, located about 120 km east-northeast of Red Lake and 9 km east of First Mining Gold’s 4.9-million-ounce Springpole deposit. The property directly adjoins First Mining’s land package, placing Bold within the same gold-bearing structural corridor that hosts Springpole. Recent exploration by previous operators identified angular granitic boulders returning 191 to 1,270 ppb gold and mapped banded iron formations corresponding to strong magnetic anomalies in the northwest part of the property. Despite its highly prospective setting, the area remains underexplored, providing Bold with an opportunity for first-pass systematic fieldwork, including lake-sediment sampling and targeted prospecting planned for 2026.

Joutel Gold and Base Metal Project

The Joutel gold and base metal project comprises 41 mineral claims across 2,269 hectares in two claim groups, located about 140 km northwest of Val-d’Or and 6.5 km south-southeast of the former mining town of Joutel. The property lies within an established polymetallic belt that hosts the historic Joutel gold and base-metal mines and the nearby Explo-Zinc deposit. Bold first worked the area in 2012, conducting VTEM and magnetic surveys that outlined multiple untested anomalies. Historical drilling in the vicinity returned encouraging results, including 0.83 percent nickel over 3.7 m (1.27 percent nickel over 2.3 m sub-interval) and 0.51 g/t gold over 3.05 m, confirming the project’s nickel-gold-zinc polymetallic potential. Planned next steps include soil sampling and reconnaissance prospecting to refine Phase I drill targets in 2026.

Management Team

David Graham – Chief Executive Officer and Director

David Graham has been active in the mineral exploration industry for over 40 years. Between 1997 and 2004 he was co-founder, president and CEO of Normiska Corporation, an industrial minerals and materials company with four production facilities in Canada and the US.

Between 2006 and 2010 he was a director and vice-president of Noront Resources. During this time the company made major discoveries at Windfall Lake in Urban Twp., Quebec and the Ring of Fire in the James Bay Lowlands of Ontario. Graham has worked extensively in Canada as well as in the US, Scandinavia and Africa. His experience has frequently included working with First Nations and regulatory agencies on projects that ranged from a grassroots stage to advanced development.

Bruce MacLachlan – President and Chief Operating Officer

With over 40 years of experience in the exploration industry, Bruce MacLachlan is a proven exploration manager and has been a key member of a number of mineral discovery teams, including Noranda Exploration, Battle Mountain Gold, CanAlaska Uranium and Noront Resources. He was a prospector at Noranda Exploration and Battle Mountain Gold, exploration manager at CanAlaska Uranium and Noront Resources. He is a co-founder and president of Emerald Geological Services (EGS), a consulting company created in 2001.

Coleman Robertson – Vice-president of Exploration

Coleman Robertson is a professional geologist who has worked exploring for gold, base metals and rare earth elements. His experience includes a wide range of exploration activities from grassroots to discovery stage projects. Employed by EGS since 2017, Robertson is vice-president of exploration for EGS and has experience with multiple projects in multiple jurisdictions, including Bold’s gold and copper projects in Northwestern Ontario and EGS’s high grade Cu-Ag-Pb-Zn-Au-Co project in Nunavut.

Robert Suttie – Chief Financial Officer

Robert Suttie currently serves as CFO with over 40 years’ experience as a consultant raising capital for emerging companies. He has been a director/executive at several private/public corporations.

William Johnstone – Corporate Secretary and Legal Counsel

William Johnstone is the company’s corporate counsel and corporate secretary. Johnstone has been a partner at Gardiner Roberts LLP since February 2005, practicing in the areas of corporate and securities law for over 40 years.

Ian Bodie-Brown – Director

Ian Bodie-Brown is an industry consultant with over 35 years’ experience. He is chairman of Rio Silver (on the TSX Venture Exchange) and a professional geologist.

Steve Brunelle – Director

Steve Brunelle is a professional geologist with over 35 years’ experience and is the chairman of Rio Silver (on the TSX Venture Exchange).

Markets and commodities react

Canadian equity markets were down this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost just 0.15 percent over the week to close Friday at 29,912.19.

Meanwhile, the S&P/TSX Venture Composite Index (INDEXTSI:JX) had a much more challenging week, falliing 7.63 percent to 885.31. The CSE Composite Index (CSE:CSECOMP) also had a bad week, plunging 7.35 percent to close out the week at 163.51.

The gold price ended the week flat, closing at US$4,000.20 per ounce by 4:00 p.m. EST Friday. The silver price fell slightly, dropping 0.66 percent to US$48.35.

Meanwhile, in base metals, the copper price shed 2.72 percent to US$5.01 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 0.2 percent to end Friday at 553.62.

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. EST 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. Quarterback Resources (CSE:QB)

Weekly gain: 160 percent
Market cap: C$11.36 million
Share price: C$1.3

Quarterback Resources is an exploration company focused on exploring the Twin gold property in Northwest British Columbia, Canada.

The project is located in the Omineca Mining District near Fort St. James, and consists of 16 mineral claims covering 11,110 hectares. The site has a history of mineral exploration dating back to the 1970s, including 109 drill holes.

Quarterback holds an option to acquire a 100 percent stake in the property through an earn-in agreement in exchange for C$800,000 in cash payments and C$4.74 million in exploration expenditures over a six-year period.

According to a technical report released in November 2024, the company relogged three of the historic holes from the Takla-Rainbow zone, with one hole returning a grade of 2.26 parts per million (ppm) gold, 2.15 ppm silver and 0.19 percent copper over 22.52 meters.

Shares in Quarterback were up significantly this week. Its most recent news came on Wednesday (November 5) when it filed its monthly progress report on the Canadian Securities Exchange website. The company noted that it was proceeding with a Phase 1 exploration program, which is planned to include LIDAR and induced polarization surveys.

2. Mont Royal Resources (TSXV:MRZL)

Weekly gain: 62.5 percent
Market cap: C$47.55 million
Share price: C$0.26

Mont Royal Resources is an Australia-based exploration company focused on a trio of projects in Québec, Canada. The company began trading on the TSXV on November 5 following a merger with Canada-based Commerce Resources.

The merger combined Commerce’s Ashram rare earth and flourspar project and Eldor niobium projects, with Mont Royal’s existing Northern Lights gold-copper-lithium project, all of which are located in Quebec.

In the October 22 news release announcing the completion of the merger, it stated its core focus would be on the Ashram rare earth and flourspar project and that the deal provided a compelling opportunity to establish a new source of rare earths in North America.

Ashram, located near Nunavik, Quebec, has received more than AU$50 million in investment for exploration activities, development studies and resource definition.

According to the project page, a mineral resource estimate from April 2024 produced an indicated resource grading 1.89 percent total rare earth oxides (TREO) and 6.6 percent fluorspar from 73.2 million metric tons of ore.

Although the company did not release project news this week, two of its projects contain minerals that were added to the CMETC as part of the fall budget.

3. Royalties Inc. (CSE:RI)

​Weekly gain: 38.46 percent
Market cap: C$11.36 million
Share price: C$0.09

Royalties is focused on building cash flow through the acquisition of mineral and music royalty assets.

The company has a 100 percent interest in the Bilbao silver property in Zacatecas, Mexico, which hosts silver, zinc and lead deposits. As silver prices improve, the company is seeking to monetize the property.

In June, the company reported that its subsidiary, Minera Portree, won its lawsuit against Capstone Copper (TSX:CS,OTC Pink:CSCCF), asserting its ownership of a 2 percent net smelter return royalty on five mineral concessions at the Cozamin copper-silver mine in Zacatecas.

The protracted legal dispute began after Capstone re-assigned the royalty to itself through a 2019 contract without informing or paying Minera Portree.

Under the terms of the judgment, the 2 percent NSR will revert back to Minera Portree along with royalties for the exploitation of concessions between 2002 and 2019. The amounts for those royalties will be set at the execution phase. Capstone Gold is also ordered to pay royalties from the Portree 1 concession from August 2019 to present.

​While Capstone appealed the decision, Royalties announced on Thursday (November 6) that an appellate court had upheld the original June decision, deeming the appellant’s arguments inoperative and inadmissible.​

4. Africa Energy (TSXV:AFE)

​Weekly gain: 31.82 percent
Market cap: C$64.69 million
Share price: C$0.145

Africa Energy is a South Africa-focused oil and gas exploration and development company.

Its flagship asset is Block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.

It holds a 4.9 percent interest in the asset through its investment in Main Street 1549, a 49/51 joint venture with Arostyle Investments. The three other partners in the asset announced plans to withdraw from the Block 11B/12B joint venture in July 2024, and announced a definitive agreement for the new ownership structure of the Block 11B/12B asset in May of this year.

The restructuring would result in Africa Energy holding a 75 percent stake in the block, with Arostyle Investments holding the remaining 25 percent. This is contingent on the asset being granted the production rights, which requires approval of its environmental and social impact assessment.

Shares in Africa Energy were up this week. Its most recent news came on October 9, when it provided an operational update from Block 11B/12B. The company announced that it had been granted an extension to submit its environmental and social impact assessment until May 4, 2026.

5. Highland Critical Minerals (CSE:HLND)

Weekly gain: 26.87 percent
Market cap: C$79.73 million
Share price: C$4.25

Highland Critical Minerals is an exploration company focused on advancing its flagship Church lithium property in Ontario, Canada.

The project, located near Thunder Bay, Ontario, is situated within the Quetico region. A preliminary exploration program at the property conducted in August 2023 discovered five pegmatites hosting quartz, feldspar and muscovite and returned high lithium grades up to 3 percent lithium dioxide.

In addition to Church, Highland has been working to acquire other critical mineral properties, with the most recent announced on Friday. In the news release, the company said it had entered into a binding letter of intent to acquire mining claims covering 3,138.874 hectares in the Yathkyed Lake Greenstone Belt in Nunavut, Canada, expanding Highland’s critical mineral portfolio.

FAQs for Canadian mining stocks

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. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while 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.