1. NVIDIA CEO meets with Trump

The White House will reverse plans to put additional export restrictions on NVIDIA’s (NASDAQ:NVDA) cutting-edge H20 chips, according to NPR. Anonymous sources say CEO Jensen Huang spoke to the president at a dinner in Mar-a-Lago last week, committing to increase its investment in the US artificial intelligence (AI) data center buildout.

After the dinner, the administration opted to pause a months-long plan to place additional export restrictions on NVIDIA’s H20 chips, the most advanced chips US-based enterprises can sell to China under the current laws.

The plan had been in the works since lawmakers began lobbying the administration to limit China’s access to cutting-edge technology following the release of DeepSeek’s AI chatbot, R1.

“If NPR’s reporting is accurate, this news is a significant positive for NVIDIA, as well as a more modest tailwind for other portions of the server supply chain,” Wedbush Securities analyst Matt Bryson said in a client note on Thursday.

After the Trump administration’s tariff announcement last week, Reuters reported that Chinese companies, including Alibaba Group Holding (NYSE:BABA), ByteDance and Tencent Holdings (OTC Pink:TCE:HY,HKEX:0770), had placed roughly US$16 billion in orders for NVIDIA’s H20 chips.

2. Apple customers fear price increases

Customers filed into Apple stores across the US over the weekend, fretting that the iPhone maker may be forced to raise prices on its products in the face of rising manufacturing costs stemming from the ongoing US-China trade war.

The tech giant is heavily reliant on Asian assembly lines, and experts widely agree that a return of tech manufacturing to the US is a complex and time-consuming process, making it an unlikely immediate solution for a company whose products are high in demand and require rapid production and distribution. The company is planning a series of new product releases for 2025, with the release of the iPhone 17 slated for September.

In the short term, Apple appears to be turning to India as an alternative to mitigate the impact of the tariffs. The company reportedly loaded flights from India with iPhones before the tariffs went into effect, allegedly lobbying Chennai International Airport authorities to cut down customs from 30 hours to six hours to speed up the airlift.

So far, Apple hasn’t made any official announcements on potential price adjustments.

The company managed to secure an exemption when Trump imposed tariffs in his first presidential term, but it’s unclear if the president will be swayed to grant a waiver again.

3. Pichai reaffirms Google’s AI strategy

Amid stock market turbulence and a downturn in the tech sector, Google CEO Sundar Pichai reiterated the company’s commitment to substantial investment in developing its AI infrastructure and product line, reaffirming its plans to allocate a significant budget of US$75 billion towards capital expenditures.

The update came as the company convened at its Cloud Next conference, held this week in Las Vegas, Nevada. During the event, Google unveiled a suite of new AI services.

Among the many developments shared with attendees, Google Cloud and Samsung (KRX:005935) announced a strengthened partnership aimed at integrating Google Cloud’s advanced generative AI technology into Samsung’s Ballie, an innovative home AI companion robot slated to hit US and South Korean markets this summer.

This collaboration signifies the growing convergence of AI capabilities and home robotics, paving the way for a new era of intelligent and interactive home companions.

Samsung hasn’t announced pricing for Ballie, but tariffs could inflate costs. The 90 day pause and productive trade talks with South Korea, where Samsung has manufacturing locations, offer a glimmer of hope for consumers.

4. New autonomous driving and EV entrants

The landscape of electric vehicles (EVs) continues to evolve despite a shifting political backdrop.

This week saw reports that Zoox, Amazon’s robotaxi subsidiary, has begun testing its autonomous taxi services in Los Angeles, signaling the company’s confidence in its self-driving technology.

Meanwhile, TechCrunch reported that Slate Auto, a Michigan-based EV start-up with ties to Amazon, is going ahead with plans to begin production of an entry-level US$25,000 electric pickup truck as soon as next year.

The company has reportedly raised at least US$111 million and hired hundreds of employees from Ford (NASDAQ:FORD), General Motors (NYSE:GM), Stellantis (NYSE:STLA) and Harley-Davidson (NYSE:HOG).

According to the report, the company plans to supplement the truck’s small margins by selling aftermarket vehicle accessories and apparel. Slate hopes to begin production in Indiana by late 2026.

Adding to an influx of new EV players, Taiwanese manufacturing company Foxconn Technology (TPE:2354) announced its intention to bring two new battery EVs to the US market, with one slated to hit the markets in late 2025.

In the realm of driverless technology, Nissan Motor (TSE:7201) said Thursday that it will integrate self-driving technology developed by the UK’s Wayve in its ProPilot assisted driving feature starting next year.

These developments follow a Washington Post report earlier this week that found Americans’ interest in EVs is waning in the face of the Trump administration’s effort to pull back spending on EV infrastructure, including canceling a Biden-era initiative to build EV charging stations across the country and potentially repealing EV tax credits.

5. OpenAI considers hardware acquisition, counter-sues Musk

A Monday report from the Information suggests that OpenAI is in talks to acquire io Products, a hardware startup co-founded by the company’s CEO, Sam Altman, and former Apple design chief, Jony Ive.

According to the report, the startup has been collaborating with Ive’s design studio, LoveFrom, on the development of a new hardware device that would act as an interface between users and voice-enabled AI assistants.

While the two companies are reportedly exploring partnerships that don’t involve an acquisition, the potential deal could value io Products at up to US$500 million, according to the report.

In other developments, OpenAI countersued Tesla (NASDAQ:TSLA) CEO Elon Musk on Wednesday, citing ongoing harassment since the startup began transitioning toward a for-profit structure in 2023.

“Through press attacks, malicious campaigns broadcast to Musk’s more than 200 million followers on the social media platform he controls, a pretextual demand for corporate records, harassing legal claims, and a sham bid for OpenAI’s assets, Musk has tried every tool available to harm OpenAI,” the company wrote in a court filing.

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day’s range has seen a low of US$81,675.28 and a high of U$83,968.58.

Bitcoin performance, April 11, 2025.

Chart via TradingView.

Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.

Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.

Altcoin price update

• Solana (SOL) is currently valued at US$120.57, up 8.4 percent over the past 24 hours. SOL experienced a low of US$118.23 and a high of US$121.52 on Friday.

• XRP is trading at US$2.05, reflecting a 4.2 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.99 and a high of US$2.06.

• Sui (SUI) is priced at US$2.22, showing an increaseof 6.5 percent over the past 24 hours. It achieved a daily low of US$2.17 and a high of US$2.24.

• Cardano (ADA) is trading at US$0.6279, reflecting a 4.9 percent increase over the past 24 hours. Its lowest price on Friday was US$0.6175, with a high of US$0.6313.

Crypto news to know

Trump overturns IRS DeFi rule

US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.

The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.

With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.

In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.

SEC issues guidance on crypto securities disclosures

Intending to build on the US Securities and Exchange Commission’s (SEC) Crypto Task Force, the commission’s Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.

The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.

Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.

The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.

The SEC also asked whether the protocol is open-source or not.

It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.

Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”

New York moves to let state agencies accept crypto payments

New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.

A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.

The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.

More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.

Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.

SEC and Ripple seek abeyance in legal proceedings

The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.

The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.

“An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.

In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.

BlackRock reports digital asset inflows

BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).

Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.

1. Discovery Silver (TSX:DSV)

Year-to-date gain: 185.92 percent
Market cap: C$848.98 million
Share price: C$2.03

Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.

Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.

A 2024 feasibility study for the project outlined proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.

The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.

Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).

The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.

Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.

Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.

According to Discovery in its full year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.

2. Almaden Minerals (TSX:AMM)

Year-to-date gain: 136.36 percent
Market cap: C$16.47 million
Share price: C$0.13

Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.

A July 2018 mineral resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.

In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.

Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.

In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.

In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.

Shares in Almaden reached a year-to-date high of C$0.135 on February 24.

3. Avino Silver & Gold Mines (TSX:ASM)

Year-to-date gain: 98.43 percent
Market cap: C$373.48 million
Share price: C$2.52

Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.

The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.

In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.

In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.

The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.

Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.

Avino’s share price marked a year-to-date high of C$2.80 on March 27.

4. Highlander Silver (CSE:HSLV)

Year-to-date gain: 90 percent
Market cap: C$160.17 million
Share price: C$1.90

Highlander Silver is an exploration and development company advancing projects in South America.

Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.

The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.

In July 2024, the company announced it was commencing field activities at the project but has not provided results from the program.

In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.

Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.

Shares in Highlander reached a year-to-date high of C$1.96 on March 31.

5. Santacruz Silver Mining (TSXV:SCZ)

Year-to-date gain: 85.45 percent
Market cap: C$192.16 million
Share price: C$0.51

Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico.

Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.

In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.

In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.

Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.

How did we get here? A timeline of the trade war escalation

What began with campaign promises to revamp America’s trade relationships rapidly evolved into a tit-for-tat trade war with key US allies and competitors alike. Here’s a look at what happened.

• February 10 to 13: The US broadens its tariff scope. Steel and aluminum duties are increased, and Trump unveils a “reciprocal tariff” policy, signaling that countries with higher import taxes on American goods will face equivalent treatment.

• February 25 to March 1: Trump continues the escalation, ordering probes into tariffs on critical materials like copper and lumber under national security justifications.

• April 9 to 10: Hours after the higher reciprocal tariffs are triggered, the Trump administration announces a 90 day suspension for most of them — except for China. Trump ratchets China’s tariff burden up to 125 percent (or 145 percent with fentanyl-linked levies). China retaliates with an 84 percent tariff on US goods. Canada and the EU follow suit with their own targeted tariffs, though the EU pauses immediate retaliation, signaling openness to negotiation.

Bracing for impact

Despite the mutual saber-rattling, both the US and China have left the door open to dialogue — albeit on vastly different terms. China’s Foreign Ministry urged the US to demonstrate “an attitude of equality, respect, and mutual benefit.” US Treasury Secretary Scott Bessent struck a defiant tone, dismissing China’s retaliatory measures as ineffective.

“They have the most imbalanced economy in the history of the modern world,” he told Fox Business. “They’re the surplus country. Their exports to the US are five times our exports to China. So, they can raise their tariffs. But so what?”

Yet economists and international trade experts warn the stakes are high — not just for the two economic giants, but for the world. According to WTO forecasts, the fallout could slash global trade volumes by hundreds of billions of dollars.

“Our assessments, informed by the latest developments, highlight the substantial risks associated with further escalation,” said WTO Director-General Ngozi Okonjo-Iweala in an April 9 statement.

Markets and commodities react

The markets were in chaos this week, continuing last week’s selloffs at the start of the week but rallying after Trump announced a pause on tariffs on Wednesday. While the majority of market indexes ended the week in the green, they were still down significantly from the start of April.

In Canada, the S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.74 percent during the week to close at 23,587.80 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) soared 11.49 percent to 615.80 and the CSE Composite Index (CSE:CSECOMP) rose 4.07 percent to 109.68.

US equity markets were highly volatile this week, but posted significant gains by close on Friday, with the S&P 500 (INDEXSP:INX) adding 8.27 percent to close at 5,363.35, the Nasdaq 100 (INDEXNASDAQ:NDX) gaining 11.44 percent to 18,690.05. However, the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 7.41 percent to 38,314.85.

The combined effects of tariffs, equity market volatility, and instability in US Treasury bonds pushed the US dollar index (DXY) to three-year lows this week, hovering around the 100-point mark at the end of the day on Friday.

The sinking dollar helped push commodities higher, sending the gold price to a new high of US$3,244.30 per ounce on Friday. It pulled back slightly from the high to close the week up 6.49 percent at US$3,235.70. The silver price posted even stronger gains, rising 9 percent during the period to US$32.22.

In base metals, the COMEX copper price surged 9.81 percent over the week to US$4.59 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) gained 0.94 percent to close at 525.15.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

Here’s a look at this week’s five best-performing Canadian mining stocks below.

Stock 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 capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Tethys Petroleum (TSXV:TPL)

Weekly gain: 122.22 percent
Market cap: C$183.77 million
Share price: C$1.60

Tethys Petroleum is an oil and gas exploration and production company focused on advancing operations in Kazakhstan.

The company holds a portfolio of production contracts in the North Ustyurt basin north of the Aral Sea. The properties consist of the Kyzyloi production contract, the Akkulka and the Kul-Bas exploration licenses and production contracts.

In its Q3 2024 update released on November 26, the company indicated it produced 259,513 barrels of oil and 22.14 million cubic meters of natural gas through the first nine months of 2024.

Its oil production represented a 75 percent fall off from its 2023 production totals and owed to the ending of exploration contracts and pilot production in October 2023. It noted that test oil production from some wells was restarted and produced during Q2 and Q3 2024.

Shares in Tethys rose this past week, but it has not released news since February 3 when it provided a corporate update.

In the release, the company stated it had withdrawn its application to transition its contract for the Kul Bas field to a production contract. The company determined that it would achieve higher revenue by selling through current channels under a testing production contract rather than a full production contract.

It also mentioned that it had entered into an agreement with NatGaz to be a buyer of Tethys. Under the terms of the deal, NatGaz began accepting gas from Tethys on February 17, and the agreement is expected to generate over US$700,000 per month in revenue.

2. Onyx Gold (TSXV:ONYX)

Weekly gain: 90.91 percent
Market cap: C$20.2 million
Share price: C$0.42

Onyx gold is an exploration company advancing its Munro-Croesus project, located near Timmins in Ontario, Canada. The company has increased the size of the land package by 200 percent between 2020 and 2024, and the project now covers an area of 95 square kilometers.

Munro-Croesus hosts the historic Croesus mine, which produced 14,859 ounces of gold between 1915 and 1936 with an average grade of 95.3 grams per metric ton (g/t). Onyx is the first company to explore the property since the mine closed.

Shares in Onyx surged this week after it released drill results from the project on Thursday. In the release the company highlighted a broad mineralized assay from a newly identified gold zone, with an average grade of 3.4 g/t gold over 69.6 meters, including an intersection of 38.5 g/t gold over 3 meters.

Onyx also said it had signed an option agreement to acquire a 100 percent interest in a 21 hectare land package contiguous with the property’s Argus North zone.

3. Angus Gold (TSXV:GUS)

Weekly gain: 68.89 percent
Market cap: C$45.25 million
Share price: C$0.76

Angus Gold is a gold exploration company focused on its Golden Sky project in Northern Ontario, Canada.

The project covers an area of 261 square kilometers and includes the Dorset Gold Zone, which has near-surface mineralization. According to a 2020 technical report, the zone contains an indicated historic mineral resource estimate of 40,000 ounces of gold from 780,000 metric tons of ore with an average grade of 1.42 g/t, along with an additional inferred resource of 180,000 ounces from 4.76 million metric tons of ore with a grade of 1.19 g/t.

Angus shares posted gains this week after it announced on Monday that it had entered into a definitive agreement in which Wesdome Gold Mines (TSX:WDO,OTCQX:WDOFF) will acquire all of the issued and outstanding common shares of Angus. Wesdome currently owns a 10.4 percent stake in Angus or 14.9 percent on a partially diluted basis.

Under the terms of the agreement, each Angus share will be exchanged for an aggregate value of C$0.77, representing a 59 percent premium over its 20-day volume weighted average as of April 4.

The transaction will consolidate the Golden Sky project with Wesdome’s Eagle River project into a 400 square kilometer contiguous land package.

4. Lara Exploration (TSXV:LRA)

Weekly gain: 63.64 percent
Market cap: C$72.67 million
Share price: C$1.80

Lara Exploration is a copper miner, explorer and royalty generator focused on South America.

For 2024, its primary asset has been the Planalto copper project in the Carajas Mineral Province in Pará, Brazil. The property comprises five mineral tenements covering a total area of 3,867 hectares. More than 23,000 meters of drilling have been conducted, and three primary deposits — Homestead, Cupuzeiro and Planalto — have been identified.

The most recent news from the project came on October 17, when Lara filed the technical report for its maiden resource estimate, which outlines a total indicated resource of 252,800 MT of copper from 47.7 million MT of ore with an average grade of 0.53 percent copper. The report also outlines an inferred resource for Planalto of 548,900 MT of copper from 154 million MT of ore with an average grade of 0.36 percent copper.

Lara also owns a 5 percent net profit interest, along with a 2 percent net smelter return royalty, in the Celesta copper mine in Brazil. Its partners are private companies Tessarema Resources and North Extração de Minério.

On November 12, Lara announced that operations had restarted at the mine after it had been placed on care and maintenance while Tessarema worked to reinstate permits to the property. In the release, Lara said that mining and ore processing from stockpiles began in October and is expected to ramp up gradually over the coming months.

Shares in Lara rose this past week, but the company has not released updates from the project in 2025.

5. Fortune Bay (TSXV:FOR)

Weekly gain: 52.5 percent
Market cap: C$28.24 million
Share price: C$0.61

Fortune Bay is a gold and uranium exploration company that is working to advance its Murmac uranium project in Saskatchewan, Canada.

The project is located within the Athabasca basin and consists of 17 mineral claims over an area of 10,363 hectares. Historic exploration at the site has identified a near-surface prospect with a 30-kilometer strike length. Work in the 1980s discovered numerous occurrences with greater than 1 percent uranium oxide.

Since 2023, exploration at Murmac has been funded by an option agreement with Aero Energy (TSXV:AERO,OTC Pink:AAUGF), which has the opportunity to acquire a 70 percent interest in the project by providing C$6 million in exploration expenditures over a period of three and a half years.

On February 20, Fortune Bay announced winter drill targets at Murmac. The company said the targets were supported by the completion of a radon-in-water survey at Howland lake, which identified three anomalies that overlie electromagnetic conductors and represent graphite-rich host rocks.

The company announced on March 19 that it began the drill program, which is expected to include up to six holes over about 900 meters.

Fortune’s most recent news came on Monday when it increased a non-brokered private placement to raise gross proceeds of up to C$3 million. The company said the funds raised would go towards advancing its projects and general corporate purposes.

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.

Recent instances of extreme fear

Understanding past instances of extreme fear can provide insights into current market conditions. The last two notable times the index hit extreme fear were August 5, 2024, and December 19, 2024.

1. August 5, 2024: Global selloff and economic uncertainty

On August 5, 2024, markets saw a sharp decline following weak tech earnings and US employment data, accelerated by an unexpected interest rate hike by the Bank of Japan that resulted in investors trying to unwind yen carry trades.

This caused a ripple effect across global markets:

• The S&P 500 fell over 4 percent amid investor concerns about an economic slowdown.
• The International Monetary Fund warned that the volatility could be a precursor to prolonged instability.

2. December 19, 2024: Federal Reserve’s hawkish stance

Investor fears resurfaced in mid-December 2024, when the US Federal Reserve signaled that interest rates would likely remain elevated longer than expected. The announcement sent shockwaves through the markets:

• The US dollar surged to a two year high, weighing heavily on emerging markets.
• Cryptocurrencies took a hit, with Bitcoin dropping over 15 percent in a week.

How do other fear-based indexes compare?

While CNN’s Fear and Greed Index is a popular barometer of market sentiment, it isn’t the only fear-based indicator worth watching. Here’s how other major sentiment gauges compare:

Crypto Fear & Greed Index

The Crypto Fear & Greed Index tracks investor sentiment in the cryptocurrency market. Crypto markets are particularly sensitive to risk-off sentiment, making this index an important measure for digital asset investors.

The Crypto Fear & Greed Index has also dropped into extreme fear, with a score of 15 on March 4. This decline coincided with continued geopolitical tensions, including Trump’s announcement of 25 percent tariffs on Canada and Mexico.

Doomsday Clock

Though not a financial index, the Doomsday Clock, updated annually by the Bulletin of Atomic Scientists, reflects global existential risks, including nuclear tensions, climate change and geopolitical instability.

As of January 28, 2025, the clock was at 89 seconds to midnight, signaling heightened global uncertainty, which can influence investor sentiment in risk assets like equities and cryptocurrencies.

What extreme fear means for investors

The plunge of CNN’s Fear and Greed Index into Extreme Fear territory signals widespread investor anxiety. But is this a warning of further declines, or a contrarian buy signal?

Historically, moments of extreme fear have often preceded strong market rebounds, as panicked selling creates opportunities for value investors. However, not all instances lead to immediate recoveries; some mark the beginning of prolonged downturns, and it can be difficult to tell which scenario is ahead.

Key considerations for investors:

• Economic data: Keep an eye on employment reports, inflation data and GDP growth figures.
• Fed policy: Interest rate decisions will continue to be a key driver of market sentiment.
• Corporate earnings: Weak earnings reports could exacerbate investor fears, while strong results may signal resilience.
• Geopolitical developments: Trade tensions, global conflicts and macroeconomic policies can shift market sentiment quickly.

While fear-based indicators provide valuable insights, investors should use them alongside fundamental and technical analysis to make informed decisions. Whether this moment marks a temporary panic or the start of a broader downturn remains to be seen, but one thing is clear: investors should be prepared for volatility in the weeks or months ahead.