Top 5 Canadian Mining Stocks This Week: Honey Badger Silver Shines with 63 Percent Gain

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.22 percent over the week to close Friday (May 1) at 32,891.18, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent to 994.44.

The CSE Composite Index (CSE:CSECOMP) gained 0.57 percent to 183.85.

The gold price dropped 1.95 percent to close at US$4,610.95 per ounce on Friday at 4:00 p.m. EDT. The silver price fared better, closing the week down just 0.05 percent at US$75.41 on Friday.

In base metals, the Comex copper price recorded a 1.01 percent decrease this week to US$5.97.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 4 percent to end Friday at 760.34.

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. Honey Badger Silver (TSXV:TUF)

Weekly gain: 63.08 percent
Market cap: C$71.22 million
Share price: C$0.53

Honey Badger Silver is an exploration company working to advance a portfolio of silver projects in Canada’s north. It also holds 10,000 ounces of physical silver, generating an annual yield.

Shares in the company soared this week after it announced on Monday that it had closed its acquisition of Canadian Zinc Corporation, giving it full ownership of the Prairie Creek silver project in the Northwest Territories.

Honey Badger acquired the company on a debt-free basis in exchange for a combination of C$10 million and 12.5 million units, each consisting of one share and one warrant.

“Closing the PC Silver Project acquisition marks a defining moment for Honey Badger,” Executive Chairman Chad Williams said. “We have secured 100 percent control of one of the highest-grade, fully permitted silver assets in the world, with a clear path to production in a tier-one jurisdiction.”

According to the project page, the asset has a historic measured and indicated resource of 240 million silver equivalent ounces, with an additional inferred resource of 167 million silver equivalent ounces.

Additionally, the site hosts underground development and milling facilities.

2. New Zealand Energy (TSX:NZ)

Weekly gain: 51.35 percent
Market cap: C$20.72 million
Share price: C$0.56

New Zealand Energy is an oil and gas producer focusing on projects in New Zealand’s Taranaki basin.

According to the company’s December 2024 oil and gas reserves summary, it holds proven and probable reserves of 1.15 million barrels of oil equivalent across a range of producing, non-producing and undeveloped projects. Its flagship Tariki gas storage project is a 50 percent joint venture with L&M Energy.

Its latest project update came on March 30, when it announced that initial production from the Ngaere-2 well achieved an initial flush production of 2,500 barrels of oil per day before stabilizing in the 300 barrel per day range. The company had resumed production from its Waihapa H1 well after a workover earlier that month. The wells are located near its 50 percent owned Waihapa production facility.

On Friday, the company announced a delay in filing annual disclosure documents, due to factors including changes to its senior management and external auditor delaying its oil and gas reserves evaluation. It expects to file the documents by June 1. In the interim, a management cease trade order will be in place.

3. First Atlantic Nickel (TSXV:FAN)

Weekly gain: 45.28 percent
Market cap: C$124.85 million
Share price: C$0.77

First Atlantic Nickel and Cobalt is a critical mineral exploration and development company advancing its Pipestone XL project in Newfoundland and Labrador, Canada.

The nickel and cobalt property spans the breadth of the 30 kilometer Pipestone ophiolite complex and hosts multiple zones with nickel, iron and cobalt mineralization. To date, the company has identified several primary targets, including the RPM zone, Alloy Max, Super Gulp and Chrome Pond.

On Monday, the company announced it was changing its name from First Atlantic Nickel to First Atlantic Nickel and Cobalt to better reflect the natural occurrence of cobalt within the awaruite deposits that underpin its Pipestone XL project.

The announcement also said it would attend the SAFE Summit in Washington, DC, which covers a range of topics including discussions on critical mineral supply chain policies.

Then on Wednesday, First Atlantic announced that it had brought on Dr. Douglas Wicks as a strategic advisor. Wicks has spent more than 25 years in leadership roles within the US government that focused on industrial minerals and advanced materials.

He was also a program director at the US Department of Energy’s Advanced Research Projects Agency-Energy. One of the two programs he led, MINER, funded research into recovering minerals such as nickel and cobalt from mineral systems in the same class as the Pipestone XL project.

4. Trident Resources (TSXV:ROCK)

Weekly gain: 45 percent
Market cap: C$157.95 million
Share price: C$4.06

Trident Resources, formerly Eros Resources, is a gold and copper exploration company focused on expanding its portfolio of projects in the La Ronge gold belt of Saskatchewan, Canada.

A three-way merger in early 2025 between Eros Resources, MAS Gold and Rockridge Resources allowed the companies to consolidate a portfolio of assets in Saskatchewan, including the Contact Lake and Greywacke Lack gold projects in the La Ronge gold belt as well as the Knife Lake copper project.

The company is advancing its flagship Contact Lake gold project, a 22,790 hectare property that hosts four primary deposits: Contact Lake, Preview SW, Preview North and North Lake.

Its 25,845 hectare Greywacke Lake gold project hosts several mineralized targets that lie along the 7 kilometer Wacke Trend, including Closure Lake, Lyons and Hoover Gold.

In recent weeks, the company has acquired properties to expand its holdings in the area. First, on April 21, it announced the purchase of seven mineral dispositions covering 4,711 hectares, including targets on trend with its La Ronge properties.

Then, the next day, Trident announced that it had closed a purchase agreement for an additional 19 mineral dispositions covering 3,586 hectares on trend at Contact Lake.

The most recent news came on Wednesday when the company provided results from five holes of its 2026 winter drill program at Contact Lake. One hole intersected an average grade of 15.11 grams per metric ton (g/t) gold over 51.83 meters, which included two very high-grade intervals of 1055 g/t over 0.5 meters and 256 g/t over 0.55 meters.

5. EDM Resources (TSXV:EDM)

Weekly gain: 35.94 percent
Market cap: C$25.57 million
Share price: C$0.435

EDM Resources is a zinc exploration and development company focused on the restart of operations at its Scotia mine located near Halifax in Nova Scotia, Canada.

The site, which is currently on care and maintenance, also hosts a mill and other significant mining infrastructure. Operations began in 1979, with the mill processing zinc and lead from the underground mine.

Since then, the property has changed hands several times and was briefly converted into a gold processing facility in the 1980s. In the late 1990s, it was determined that open-pit mining was feasible at the site, and surface mining was conducted briefly between 2007 and 2008 before low metals prices forced the mine's closure.

EDM acquired the property in 2011, and by 2019, new management at the company consolidated prior work and began developing a plan to restart operations.

A 2021 prefeasibility study demonstrated an economic case for the mine, with an after-tax net present value of US$128 million using an 8 percent discount rate, an internal rate of return of 65 percent and a payback period of 1.3 years.

The most recent release from EDM came on April 8, when it released its Q1 2026 update. In the release, the company reported that it had provided a C$1.16 million performance bond in support of its Fisheries Act Authorization, and its application with the Department of Fisheries was complete and entering a 90 day review period.

EDM also said it had commenced a two phase gold exploration program at the Scotia mine, and expected to complete work on its updated mineral resource estimate during second quarter of 2026.

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.

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.