Top 5 Canadian Mining Stocks This Week: Q-Gold Resources Spikes 103 Percent

Markets and commodities react

Canadian equity markets were positive this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.96 percent over the week to close Friday (April 10) at 34,695.76, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 4.29 percent to 992.22.

The CSE Composite Index (CSE:CSECOMP) gained 3.37 percent to 169.51.

The gold price was flat this week, rising just 0.01 percent to close at US$4,757.58 per ounce on Friday at 4:00 p.m. EDT. The silver price fared a bit better, closing the week up 1.73 percent at US$76.48 on Friday.

In base metals, the Comex copper price rose 4.38 percent this week to US$5.87 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was down 4.6 percent to end Friday at 704.68.

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. Q-Gold Resources (TSXV:QGR)

Weekly gain: 103.51 percent
Market cap: C$41.15 million
Share price: C$0.29

Q-Gold Resources is a gold explorer focused on its Quartz Mountain project in Oregon, US.

The company acquired the project in April 2025, when it entered into a definitive agreement with Alamos Gold (TSX:AGI,NYSE:AGI) to acquire the property.

On Wednesday, Q-Gold's share price doubled after it released the maiden preliminary economic assessment for Quartz Mountain, which evaluated it as a two phase mining operation with a 14 year mine life and average annual production of 135,400 ounces.

The PEA reported a post-tax net present value of US$1.7 billion, an internal rate of return of 55.2 percent and a payback period of 1.8 years at a base-case gold price of US$3,265 per ounce.

The included mineral resource estimate for Quartz Mountain showed an indicated resource of 79.79 million metric tons of ore containing 2.01 million ounces of gold grading 0.78 grams per metric ton (g/t) and 2.9 million ounces of silver grading 1.13 g/t.

The project’s total inferred resource is 25.63 million metric tons containing 494,000 ounces of gold grading 0.6 g/t and 543,000 ounces of silver grading 0.66 g/t.

2. G2 Goldfields (TSXV:GTWO)

Weekly gain: 94.66 percent
Market cap: C$2.78 billion
Share price: C$11.29

G2 Goldfields is a gold explorer and developer working to advance projects in Guyana. The company’s founders were previously involved in the discovery, financing and development of Aurora, Guyana's largest gold mine. Zijin Mining (OTC Pink:ZIJMF,SHA:601899) acquired Guyana Goldfields, the owner of Aurora, in 2020.

G2’s flagship Oko-Ghanie gold project is located in Guyana’s Cuyuni mining district.

The company released a PEA for the project in December 2025, indicating a post-tax net present value of US$2.56 billion, an internal rate of return of 39 percent and a payback period of 2.6 years at a base-case gold price of US$3,000 per ounce.

The PEA’s updated mineral resource estimate showed an indicated contained gold resource of 1.62 million ounces from 15.57 million metric tons of ore at an average grade of 3.24 g/t, and an additional inferred resource of 1.91 million ounces of gold from 17.97 million metric tons grading 3.31 g/t.

Shares soared on Thursday after the company announced it entered into a definitive agreement to be acquired by G Mining Ventures (TSX:GMIN,OTCQX:GMINF). Once closed, the acquisition will consolidate G2’s Oko-Ghanie project and G Mining’s neighboring Oko West project.

The companies called the merger “synergistic,” as the combined properties will create a district-scale mining operation that, once complete, could produce an average of 500,000 ounces per year over the life of the mine with significant savings compared to the individual mine plans due to shared infrastructure.

Additionally, because the G Mining project is fully permitted, it is expected that development of G2’s property would be accelerated.

G2’s team will turn their focus to G3 SpinCo, a new entity that will own G2’s Peter’s Mine, Tiger Creek and Aremu West projects, all located in the broader Oko district.

3. Sherritt International (TSX:S)

Weekly gain: 45.45 percent
Market cap: C$158.81 million
Share price: C$0.32

Sherritt International is a vertically integrated producer of nickel, cobalt and ammonium sulfate fertilizer, with operations in Cuba, and Alberta, Canada.

The company has a 50/50 joint venture with the Cuban state-run General Nickel Company. Together, they run the Moa lateritic mine and processing facility in Cuba.

Output from the operation is refined at their processing plant in Fort Saskatchewan into nickel and cobalt. In its FY2025 report, Sherritt reported attributable annual production of 12,620 metric tons of nickel and 1,364 metric tons of cobalt.

Sherritt uses the remaining mixture to create ammonium sulfate fertilizer as part of its wholly owned fertilizer business, producing 227,766 metric tons of fertilizer during the year.

However, on February 17, the company announced it planned to temporarily halt mining and processing operations in Cuba due to fuel supply constraints in the country, and was uncertain when operations would resume. The company said it will carry out planned maintenance during that time.

Oil supplies reaching Cuba were impacted following the capture of Venezuelan President Nicolas Maduro by US forces on January 3. The US began a subsequent blockade on oil exports to Cuba in February, most of which comes from Venezuela and Mexico.

On Tuesday, Sherritt announced it closed a non-brokered private placement for total proceeds of C$43.5 million. The company intends to use the funds for general corporate purposes and to support operations and strategic initiatives.

4. Rockland Resources (CSE:RKL)

Weekly gain: 45 percent
Market cap: C$16.36 million
Share price: C$0.29

Rockland Resources is a gold exploration company working to advance its Cole Gold Mines project in Ontario, Canada.

The project, located in Northwest Ontario’s Red Lake mining camp, hosted historic mine workings between 1926 and 1938. Multiple target areas have been identified at the property, defined by a combination of historic and modern exploration.

On Thursday (April 9) the company announced it had completed an expanded drill program at Cole. Rockland drilled 19 holes across 5,300 meters in what the company called the “most comprehensive modern exploration program” ever performed at the project.

The program was originally planned for 3,000 meters but Rockland expanded it in part to follow up visible gold at the new GSL zone. The company said that exploration had confirmed gold mineralization at multiple depths that are consistent with the broader Red Lake area.

Assays for the program are pending, Rockland said it will provide details when they become available.

Then, on Friday, the company announced it was opening a non-brokered private placement of 4.1 million units to raise proceeds of C$900,000, which it intends to use to fund activities at Cole and for general working capital.

5. Barranco Gold Mining (CSE:BAR)

Weekly gain: 40.35 percent
Market cap: C$35.19 million
Share price: C$1.60

Barranco Gold is an exploration company with exploration projects in British Columbia and Ontario, Canada.

Its King gold-copper project consists of eight mineral claims west of Kelowna, BC, in the Nicola Mining Division. Historic exploration of the property for copper and gold dates back to the 1960s, with more recent gold exploration conducted at properties to the west and south. Last September, the company outlined plans for Phase 2 exploration at the King project.

Additionally, Barranco acquired 16 mineral claims in Northwest Ontario's Reserve Island area last August. In December, the company announced plans for a mineral sampling program at its Ontario claims consisting of 100 samples over two historic areas. The program is expected to begin in early spring 2026, according to the release.

The company released a monthly progress report for the CSE on April 4, stating it has been “working on exploration plans and timing for its two projects.” Its share price has been on an upward trend since late March.

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.