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June 14, 2022
New Break Resources Ltd. has a gold-focused portfolio that illustrates the Company’s commitment to precious metals. New Break is currently in the process of going public, having submitted a preliminary prospectus to the Ontario Securities Commission in early May 2022 and expects to list on the Canadian Securities Exchange in the coming weeks. New Break currently has 39,030,750 shares outstanding.
New Break’s flagship Moray Project, is situated in the Abitibi greenstone belt on a splay off of the Cadillac-Larder Lake fault zone, with access to excellent infrastructure, located 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. (TSX:AGI; NYSE:AGI). In total, the Abitibi gold belt has produced over 190 million ounces of gold since 1901 and currently features over 20 gold deposits containing over 3 million ounces of gold in each deposit.
New Break’s flagship Moray Project, is situated in the Abitibi greenstone belt on a splay off of the Cadillac-Larder Lake fault zone, with access to excellent infrastructure, located 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. (TSX:AGI; NYSE:AGI). In total, the Abitibi gold belt has produced over 190 million ounces of gold since 1901 and currently features over 20 gold deposits containing over 3 million ounces of gold in each deposit.
Company Highlights
- New Break expects to soon be publicly traded on the Canadian Securities Exchange after filing a preliminary prospectus with the Ontario Securities Commission on May 6, 2022.
- The Company holds a 100% interest in multiple projects in two of the most prospective regions in Canada for gold exploration, the Abitibi in Ontario and Kivalliq Region in Nunavut.
- New Break has been awarded a CDN$200,000 grant from the Ontario Junior Exploration Program to help advance its fully permitted Moray Project, south of Timmins.
- Strong management and a highly skilled majority independent Board with backgrounds in finance, geology, capital markets, mergers and acquisitions and law, champion value creation, placing a premium on Environmental, Social and Corporate Governance.
- World class technical advisory group including Ashley Kirwan and Orix Geoscience Inc., Ken Reading, Gordon Morrison and Peter Hubacheck with Nunavut community and government relations represented by John Todd, politician, advisor to Agnico Eagle and friend to the Inuit.
This New Break Resources company profile is part of a paid investor education campaign.*
28 February
Top 5 Canadian Mining Stocks This Week: GPM Metals Leads With 37 Percent Gain
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 and US news impacting the resource sector.
Statistics Canada released its preliminary estimates for the 2024 annual mineral production survey on Wednesday (February 26).
The report showed that the US was the top trading partner for metal ores and non-metallic minerals over the last year. Canada’s resource sector shipped C$6.4 billion worth of commodities to the US in 2024. Meanwhile, imports into Canada totaled C$4.3 billion.
The top three export destinations for the Canadian mining sector were the US, which represented 23.9 percent of exports in 2024, followed closely by China with 20.3 percent and Japan with 8.9 percent.
At a value of C$4.2 billion, potash was the top mineral Canada exported to the US, representing 65.2 percent of metal and mineral exports. Diamonds and other non-metallic minerals were Canada’s next highest export to the US in this category, accounting for 13.1 percent of exports and having a trade value of C$844 million.
Overall, Canada shipped a total of C$54 billion worth of metals, non-metals and aggregates in 2024. The most valuable subcategory was gold, with Canada shipping 198,899 kilograms during 2024 worth an estimated C$16.89 billion. The second most valuable was potash, which saw 25.47 million metric tons shipped, adding C$8.68 billion to the Canadian economy.
Canada’s largest trading partner for minerals, the US, is causing considerable uncertainty in 2025 as the Trump administration continues to threaten sweeping 25 percent tariffs on all exports from Canada excluding energy, which would receive 10 percent tariffs.
The tariffs were originally set to go into effect in early February before being pushed back to the beginning of March, although US President Donald Trump did enact 25 percent tariffs on steel and aluminum imports in mid-February.
This past Wednesday, Trump indicated that the date for the sweeping tariffs had been pushed back to April 2, but walked it back in social media posts on Thursday (February 27), saying the tariffs would still go forward on March 4.
Since he assumed office on January 20, Trump’s foreign and domestic policies have sparked fears of a global trade war. Markets have struggled in recent weeks while the price of gold has soared to record highs as investors seek haven assets.
His economic moves towards Canada alongside comments calling Canada the 51st state and questioning its legitimacy as a nation have caused significant concern among Canadians, many of whom have begun boycotting US travel and products in favor of supporting Canadian companies.
Markets and commodities react
US equity markets were broadly down this week through the close of trading on Thursday, with CNN reporting markets are currently being driven by “Extreme Fear.” The S&P 500 (INDEXSP:INX) lost 4.13 percent over the four day period to end at 5,861.56, and the Nasdaq-100 (INDEXNASDAQ:NDX) fell 7.05 percent to 20,550.95 by Thursday. The Dow Jones Industrial Average (INDEXDJX:.DJI) saw the smallest drop, losing just 1.33 percent to 43.239.51.
In Canada, markets were also in decline. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.79 percent to close at 615.84 on Thursday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.61 percent loss to 25,128.24 and the CSE Composite Index (CSE:CSECOMP) dropped 3.73 percent to 127.53.
After hitting new all-time highs last week, the gold price slipped over the past four trading days losing 2.08 percent to US$2,876.00 per ounce at 5:00 p.m. EST Thursday. The silver price saw steeper declines, losing 5.04 percent during the period to US$31.25.
In base metals, the copper price spiked to almost US$4.75 late Tuesday (February 25) as Trump floated copper tariffs, but ended Thursday down on the week overall, closing the day at US$4.59 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) shed 3.16 percent to close at 560.29.
Top Canadian mining stocks this week
So how did mining stocks perform against this backdrop?
We break down this week’s five best-performing Canadian mining stocks below.
Data for this article was retrieved at 3:00 p.m. EST on Thursday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. GPM Metals (TSXV:GPM)
Weekly gain: 36.84 percent
Market cap: C$14.43 million
Share price: C$0.13
GPM Metals is a mineral exploration company working to advance its Walker Gossan zinc-lead project in the Northern Territory of Australia.
In June 2024, GPM announced that it concluded a sale and purchase agreement with a Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) subsidiary to wholly acquire the Walker Gossan project in Australia as well as two nearby exploration license applications. The terms of the deal replaced a previous farm-in agreement.
Rio Tinto’s subsidiary has the option to earn up to 49 percent interest back in the future on certain milestones. Additionally, it retains the right to be paid a further contingent amount equivalent to the future value of 1,000 metric tons of zinc and lead if GPM discovers a mineral resource greater than 20 million metric tons with combined zinc and lead grades above 8 percent.
In July 2024, GPM announced that it had finalized plans for an exploration program to be conducted in 2024 and 2025 that will follow up on previous work at the property, which identified a 2 kilometer by 1 kilometer gravity anomaly. Due to unexpected damage to the access route from storms, the program was delayed until the end of the wet season, April 2025, and will be overseen by new CEO John Timmons.
Shares in GPM Metals were up this week, although the company has not released any news in 2025.
2. DLP Resources (TSXV:DLP)
Weekly gain: 33.33 percent
Market cap: C$34.99 million
Share price: C$0.30
DLP Resources is a mineral exploration company focused on advancing its flagship Aurora copper-molybdenum project in Peru.
The 8,500 hectare site is located in the Central Andes. Exploration work has been performed at the site since the early 2000s, with DLP conducting drill programs in 2023 and 2024.
Shares in DLP saw gains this week following the release of a technical report for Aurora on Thursday that included a maiden mineral resource estimate with significant copper and molybdenum spread over two zones.
The inferred resource totals 1.05 billion metric tons of ore containing 4.65 billion pounds of copper, 1.1 billion pounds of molybdenum and 80 million ounces of silver. The resource has average grades of 0.2 percent copper, 0.05 percent molybdenum and 2.4 grams per metric ton silver.
The company said it is pleased with the size and results of the report and will continue drilling the site to upgrade the resource ahead of a preliminary economic assessment.
3. TriStar Gold (TSXV:TSG)
Weekly gain: 29.63 percent
Market cap: C$51.79 million
Share price: C$0.175
Tristar Gold is a gold exploration and development company focused on advancing its Castelo de Sonhos project in Pará State, Brazil.
According to a 2021 pre-feasibility study, the property consists of six concessions and has hosted historic small-scale artisanal mining over the past several decades. Between 2010 and 2021, Tristar drilled more than 67,000 meters in 611 holes.
The economics included in the study demonstrate that, at an annual 5 percent discount rate, the project has an after-tax net present value of US$321 million and internal rate of return of 28 percent with a payback period of 2.8 years. The base case was calculated using a gold price of US$1,550 per ounce.
The project was issued a preliminary license in August 2024 from the Para Secretariat for the Environment and Sustainability (SEMAS), a crucial environmental hurdle and the first of a three-stage process to allow project development.
The project experienced some delays in October as federal prosecutors recommended that the license be suspended pending the completion of additional archaeological studies and Indigenous Component Studies. In a follow-up announcement in December, Tristar indicated that the permit for the site would remain valid, with SEMAS providing a strong technical defense of the permitting process.
The company has not released further information on the proceedings and has spent early 2025 raising funds. The most recent news came on February 21, when it announced it had closed the final tranche of a non-brokered private placement for gross proceeds of C$1.08 million.
4. Star Diamond (TSX:DIAM)
Weekly gain: 28.57 percent
Market cap: C$27.79 million
Share price: C$0.045
Star Diamond is an exploration and development company working to advance its flagship Fort à la Corne diamond district in Saskatchewan, Canada.
The property is located 60 kilometers east of Prince Albert, Saskatchewan. Previously a joint venture with Rio Tinto, Star Diamond acquired Rio Tinto’s stake in the project in March 2024 in exchange for 119.32 million shares in Star Diamond, resulting in Rio Tinto holding a 19.9 percent ownership position in the diamond junior.
Fort à la Corne has seen extensive exploration of kimberlite deposits, including geophysical surveys, large-diameter drilling and micro- and macro-diamond analyses.
The Star-Orion South diamond project, the most advanced project area in Star Diamonds' portfolio, is located within the district.
In 2018, the company released a PEA for Star-Orion South, which reported a resource of 27.15 million carats of diamonds from 200.16 million metric tons with an average grade of 14 carats per 100 metric tons. The inferred resource is 5.18 million carats from 72.08 million metric tons, with an average grade of 7 carats per 100 metric tons.
At the time, the company estimated a post-tax NPV of C$2 billion, an IRR of 19 percent and a payback period of 3 years and 5 months.
On January 9, Star Diamond announced that a 70.7 million share block held by a former project partner had been sold, with 61.12 million shares purchased by an international investor interested in diamonds.
The company’s most recent news came on February 27, when it announced that it had closed the second tranche of its private placement for gross proceeds of C$230,000, adding to the C$335,000 from the first tranche it closed on February 18. The funds will be used as working capital. According to the announcement, Star Diamond is discussing funding for a pre-feasibility study with potential investors.
5. Canuc Resources (TSXV:CDA)
Weekly gain: 21.43 percent
Market cap: C$13.60 million
Share price: C$0.085
Canuc Resources is an exploration and development company focused on its flagship San Javier silver and gold project in Sonora, Mexico.
As part of its strategy, Canuc also owns the MidTex natural gas project, which consists of eight producing natural gas wells it uses to provide steady, long-term cash flow.
Its San Javier project consists of 28 contiguous claims covering 1,052.9 hectares, with the most recent set of claims acquired in July 2024. The company has completed limited exploration work at the site, the most recent being a mapping and sampling program in January 2024.
The most recent news from Canuc came on February 13 when it announced it had entered into a definitive arrangement agreement to acquire Macdonald Mines Exploration (TSXV:BMK,OTC Pink:MCDMF). Multiple conditions must be met before it is finalized, including several approvals and Canuc completing a C$500,000 private placement.
If completed, the deal will see Canuc acquire Macdonald and its flagship SPJ project located 40 kilometers northeast of the Sudbury mining camp in Ontario, Canada. The site covers 19,710 hectares and hosts mineralization of copper, gold, cobalt, nickel and rare earth elements.
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 companies are listed on the TSXV?
As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.
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. 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.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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07 March
MXR: Extension of Takeover Offer Period
06 March
Rick Rule: Where I See 10+ Bagger Potential, Plus Gold Price, Stocks and M&A
Rick Rule sees people making mistakes, and he's preparing to reap the benefits.
"I'm looking to deploy reasonable amounts of money into something that I feel as a speculator over five years could be a 10 bagger or a 20 bagger. And there's five or six of those out there right now, so I'm pretty excited," said the proprietor of Rule Investment Media.
Watch the interview above for more from Rule on those topics and others.
You can also click here to sign up for the Rule Symposium, set to run from July 7 to 11, 2025, in Boca Raton, Florida. Our full Prospectors & Developers Association of Canada convention playlist is here.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Affiliate Disclosure: The Investing News Network may earn commission from qualifying purchases or actions made through the links or advertisements on this page.
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06 March
Adrian Day: Gold Stock Valuations at 40 Year Lows, Don't Need Much to Fly
Speaking to the Investing News Network, Adrian Day, president of Adrian Day Asset Management, discussed gold's key underlying price drivers, also sharing his thoughts on emerging factors that could impact the metal, including the Mar-a-Lago Accord.
In terms of gold stocks, Day believes their potential continues to strengthen.
Watch the interview above for more of Day's thoughts on gold, as well as gold stocks.
You can also click here to view the Investing News Network's Prospectors & Developers Association of Canada convention playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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06 March
Horizon Minerals Pours First Gold at Phillips Find, Strengthening WA Production Pipeline
Horizon Minerals (ASX:HRZ) has successfully poured its first gold from the Phillips Find project in Western Australia, marking a key milestone for the company, The West Australian has reported.
The ore, mined from Phillips Find, located near Kalgoorlie, was processed at FMR Investments' Greenfields mill under a toll milling agreement. The company plans to process 200,000 tonnes of ore over four months, expecting to yield nearly 15,000 ounces of gold.
The Phillips Find project, approved in August 2024, is being developed in partnership with BML Ventures, with mining at the Newhaven and Newminster pits progressing on schedule, according to the news report. This achievement follows Horizon’s recent gold pour at its Boorara project, positioning it as Australia’s newest gold producer in 2025. The company aims to establish a sustainable gold production pipeline, with projects like Penny’s Find and Cannon nearing final investment decisions.
Horizon’s progress comes amid strong gold prices, which have risen over 11 percent this year to around US$2,925 (AU$4,605) per ounce. With a mineral resource of 1.8 million ounces across its projects, the company is focused on expansion and increasing shareholder value. The West Australian reported these developments reinforce Horizon’s strategy to enhance cash flow and build long-term production capacity.Click here for the full Report
This article includes content from Horizon Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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