Canadian mining stocks have been on fire this week 🔥 Let's see who made a fortune.

Speaking of which, the Canadian stock market has seen an emo loss this week, with the TSX index rising by 4.84%, and the ChiNext JX even more dramatically rising by 10.57%. Gold rose by 3.5% to 4218 dollars, and silver has gone even crazier, hitting a new high of 56.37 dollars. Copper prices have also been active, increasing by 3.74% to 5.27 dollars per pound.

The strongest performer is Mountain Province Diamonds (MPVD), which surged 114% this week! This company sold over 400,000 carats of diamonds from the Gahcho Kué diamond mine (in partnership with Anglo American) in Q3, generating revenue of CAD 29.2 million. Although production was down 12% compared to the same period last year (due to unstable quality), Q4 will see the company entering high-quality ore layers, and the market outlook is optimistic.

SPC Nickel has doubled (+100%), conducting nickel-copper-platinum group metal exploration in Nunavut and Ontario. In the recently announced samples, 39 exceeded 2% quality and 19 exceeded 5%. That's not all, as 21 platinum group metal samples also exceeded 5 grams per ton.

Bear Creek Mining rose 65.38%, operating the Mercedes gold-silver mine in Mexico, producing 6,219 ounces of gold and 18,866 ounces of silver in Q3. During the same period, Karnalyte Resources also rose 65.38%, with their latest feasibility study for the Saskatchewan potash project showing a post-tax NPV of CAD 2.04 billion, an internal rate of return of 12.5%, and a mine life of 70 years. India's GFSC also signed a procurement agreement for the first phase of 350,000 tons per year.

AJN Resources increased by 80.95%, working on a gold project in Ethiopia, and has just raised 3 million CAD to continue feasibility studies.

This wave is mainly driven by the rise in precious metals and the positive impact of policy. The Canadian government and Alberta have just signed an agreement to build a pipeline to export oil to the northern coast of BC. Although there are many controversies, mining concept stocks have clearly benefited.

Data source: TradingView, as of Friday 16:00 EST, only considering assets with a market capitalization over 10 million CAD.