Mining Sector Dominates TSX Venture 50 As Gold Bull Market Continues

1. NexGold Mining Corp. and Sierra Madre Gold and Silver Ltd. are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$3,000 and US$6,000.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Argenta Silver Corp., Nexgold Mining Corp., Sierra Madre Gold and Silver, and Silver 47 Exploration Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

If this year's TSX Venture 50 list is any indication, the mining sector in Canada is coming back in a big way.

The list, as reported by Melissa Pistilli of Investing News Network on February 20, indicates a growing positive sentiment towards the mining sector. It ranks the top performers from over 1,600 companies listed on the TSX Venture Exchange, is based on criteria including one-year share price appreciation, market cap growth, and Canadian consolidated trading value. Notably, due to a tie in the ranking system, this year includes 51 companies instead of the usual 50.

The companies on this year's list have collectively achieved an average share price appreciation of 431%, a substantial increase from last year's 207%, and have raised CA$1.5 billion in new capital. The market value growth for these companies has been remarkable, reaching 775% and resulting in CA$17.9 billion in market cap creation. This marks the largest annual gain since the inception of the TSX Venture 50 list in 2006, more than doubling the 333% average from 2025.

Despite global economic uncertainties, the outstanding performance of these companies highlights strong investor confidence in Canadian capital markets. Robert Peterman, chief commercial officer at TSX & Global Capital Formation, commented on the significance of this year's list, stating, "The Venture 50 list this year really does reflect the global interest in mining and this entrance into a commodity super cycle."

Leading the TSX Venture 50 rankings this year is Santacruz Silver Mining Ltd., followed by Ucore Rare Metals Inc., Millennial Potash Corp., 1911 Gold Corp., and TDG Gold Corp. However, share appreciation, which measures the growth of a company's perceived value without the influence of share issuance, is considered a more significant metric. By this measure, Prospector Metals Corp. leads with a staggering 1,130% increase in share value year-over-year, while Santacruz Silver Mining Ltd., the top company by overall ranking, saw its shares grow by 1,103%.

This article is part of a series spotlighting the members of the TSX Venture 50 list, focusing on those ranked 35 to 50 for share appreciation last year.

Thor Explorations Ltd. — 297% Share Price Increase

Thor Explorations Ltd. (THX:TSX.V; THXPF:OTCMKTS; THX:LSE) ranked 38th overall after experiencing significant growth with a 297% appreciation in share price and a 302% increase in market capitalization.

The company is actively involved in the acquisition, exploration, development, and production of mineral properties across several key locations in Africa including Nigeria, Senegal, Cote d'Ivoire, and Burkina Faso.

Thor Explorations is fully invested in several promising projects. It holds complete ownership of the Segilola Gold Project situated in Osun State, Nigeria. Additionally, the company possesses a 100% economic interest in the Douta Gold Project located in southeastern Senegal, and full ownership of the Guitry Gold Project in Cote d'Ivoire. These strategic investments underscore Thor Explorations' commitment to expanding its footprint and enhancing its portfolio in the mineral exploration domain.

According to a January 26 release, the company announced the results of its Pre‑Feasibility Study (PFS), an updated Mineral Resource Estimate (MRE) and a maiden Mineral Reserve prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects for the 100% owned Douta Gold Project in Senegal.

Key highlights from the PFS include a pre-tax project NPV5% of US$908 million and an IRR of 73% at a long-term gold price assumption of US$3,500/ounce, the company said. After taxes, calculated using statutory Senegalese tax rates and excluding potential fiscal incentives, the project NPV5% stands at US$633 million with an IRR of 61%. The project anticipates strong early cash flow, projecting gold production of 411,000 ounces in the first four years at an all-in sustaining cost of US$1,493/oz, generating substantial net cashflow post capital repayment with a payback period of 11 months from the start of processing.

The project also demonstrates significant leverage to higher gold prices, according to Thor. At recent spot prices of approximately US$4,250/oz, the pre-tax NPV5% could increase to US$1.43 billion with an IRR of 102% and a reduced payback period of nine months. Over a 12.6-year operational period, the project is expected to produce 1 million ounces of gold from 37 million tonnes of mill feed, averaging 1.03 grams per tonne gold (g/t Au).

Thor Explorations views the Douta project as a straightforward, value-accretive development that will sustain the company’s status as a mid-tier producer while reducing its risk profile, according to an updated research note by Hannam & Partners Analyst Jonathan Guy on January 27. Key near-term catalysts include achieving production targets at Segilola, advancing development at Douta, and obtaining exploration results from projects in Segilola, Douta, and the Ivory Coast, he said.

The Douta project holds a mineral reserve of 1.2 million ounces and a total resource of 1.97 million ounces, based on extensive drilling, Guy wrote.

The Environmental and Social Impact Assessment (ESIA) for the project was approved in January, and Thor is now working to finalize a mining convention with the government of Senegal and commence ordering long-lead items in the first half of 2026. Exploration efforts are ongoing, with 40,000 meters planned for 2026, targeting potential extensions of the oxide phase and exploring new areas within the Douta West and Bousankhoba permit areas.

Thor ended 2025 with US$137 million in cash and plans to fund the Douta project through its cash reserves, free cash flow from Segilola, and other non-dilutive measures, without resorting to debt financing, the analyst said. The company's valuation, incorporating the exploration assets and adjusted for general and administrative expenses and net cash, leads to a risked NAV of CA$1.90 per share, representing an 8% upside from the current share price.

According to an AI analysis of the stock by StockInvest.us on March 12, "The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at CA$1.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.60% during the next three months and, with a 90% probability hold a price between CA$1.80 and CA$2.38 at the end of this three-month period.

Read more about the company in its investor presentation.

Guanajuato Silver Co. Ltd. — 294% Share Price Increase

Guanajuato Silver Co. Ltd. (GSVR:TSX.V; GSVRF:OTCQX) holds the 10th rank in the mining sector and demonstrated remarkable growth with a 294% increase in share price and a 453% expansion in market capitalization.

As a dynamic precious metals producer, the company is focused on revitalizing previously operational silver and gold mines located in central Mexico. Guanajuato Silver operates out of the Bolanitos Mine, El Cubo Mine, Valenciana Mines Complex, and the San Ignacio Mine, all situated within the historically rich mining region of Guanajuato, which boasts a 480-year history of mining, TSX noted.

In addition to its operations in Guanajuato, the company also extracts silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With a total of five active mines and four processing facilities under its management, Guanajuato Silver has rapidly ascended as one of the leading silver producers in Mexico, showcasing significant growth and operational success in the mining industry.

"Earning a spot in the TSX Venture 50 list is the result of a combination of better operating discipline at our Mexican mining operations, significant silver price appreciation, and enhanced market recognition for our company," said Chairman and Chief Executive Officer James Anderson. "In 2025, we remained the leading volume trader on the TSX-Venture. Also, we have continued this success into 2026 with the recent purchase of the Bolanitos gold and silver mine, further expanding our presence in the famous Guanajuato silver mining district. As one of the very few primary silver producers on the TSX Venture, Guanajuato Silver is poised for even greater growth as we continue to build value for our shareholders."

Guanajuato recently announced a new Mineral Resource Estimate for its wholly-owned Valenciana Mines Complex (VMC) in Guanajuato, Mexico, according to a February 5 release. This updated 2025 VMC Mineral Resource Estimate significantly expands upon the historical data previously reported in the 2023 VMC Report.

Anderson said the update marks a significant milestone for the company, highlighting the robustness and continuity of the Veta Madre mineral system at Valenciana. He emphasized that this new estimate not only underscores the project's long-term viability but also cements VMC's status as a pivotal asset for the company's future.

Key highlights from the 2025 VMC Mineral Resource Estimate include a substantial 630% increase in inferred mineral resources, now totaling 20.3 million silver-equivalent ounces (AgEq), despite ongoing mining operations. This translates to 2.27 million tonnes at grades of 142.2 g/t silver and 1.55 g/t gold, encompassing 10.4 million ounces (Moz) of silver and 113,000 ounces of gold. The volume of inferred mineral resource tonnes has seen a remarkable 927% increase compared to the previous estimates.

Additionally, the indicated mineral resources have grown by 18%, reflecting refined classification criteria and confidence levels, although no measured mineral resources are defined in the current estimate. The 2025 VMC MRE also highlights the significant potential for further resource expansion and the possibility of upgrading existing inferred resources as exploration efforts proceed.

"We view this as an encouraging update," wrote Red Cloud Analyst Taylor Combaluzier in an updated research note on February 6. "The massive growth in MRE despite ongoing mining activities outlines potential for future resource growth and should support production going forward. In our view, GSVR is setting itself up for a successful 2026 with a significant production boost expected from the recently acquired Bolanitos Au-Ag mine (fifth producing mine), a record 75,000-meter drill program to further upgrade and expand resources, and improved efficiencies on the back of recent capex investments in the mining fleet and processing plants."

Red Cloud does not have a rating or target price on the stock. "Continued improvement in production and efficiency should help re-rate the stock," Combaluzier said.

According to the AI analysis on StockInvest.us, "Guanajuato Silver Company Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development."

The company's investor presentation has more information about the company and its share structure.

Thesis Gold & Silver Inc. — 284% Share Price Increase

Thesis Gold & Silver Inc. (TAU:TSXV; THSGF:OTCQX; A3EP87:WKN) experienced significant growth with a 284% increase in share price and a 411% rise in market capitalization. It was ranked 24th overall.

The company is dedicated to developing its wholly-owned Lawyers-Ranch Gold-Silver Project, situated in the Toodoggone Mining District of British Columbia. The project's robust potential was highlighted in the 2025 Prefeasibility Study, which projected a 54.4% after-tax Internal Rate of Return (IRR) and an after-tax Net Present Value (NPV) at a 5% discount rate of CA$2.37 billion, based on gold and silver prices of US$2,900/oz and US$35/oz, respectively.

Thesis Gold has initiated the Environmental Assessment Process and plans to commence a Feasibility Study in 2026 to further develop and de-risk the project. These strategic steps are part of the company’s broader effort to position the Lawyers-Ranch Project as a leading endeavor in the global precious metals sector.

On February 25, Thesis announced the successful completion of a private placement of common shares with AngloGold Ashanti, which has acquired 13,858,883 common shares, representing 5% of the Company's issued and outstanding shares, at a price of CA$2.79 per share, resulting in gross proceeds of CA$38,666,284. The funds raised will support working capital and general corporate purposes, including ongoing technical studies at the Lawyers-Ranch gold-silver Project, Thesis said.

In conjunction with this strategic investment, Thesis and AngloGold Ashanti have entered into an investor rights agreement dated February 26 that grants AngloGold Ashanti certain financing and participation rights to maintain its shareholding interest, along with rights to appoint members to a technical committee and other customary investor rights.

Additionally, pursuant to a previous investor rights agreement with Centerra Gold Inc. dated April 28, 2025, Centerra exercised its right to participate in this private placement to preserve its proportional ownership in the company, the release said. Centerra subscribed for an additional 2,059,730 common shares at the same price of CA$2.79 per share, contributing an additional CA$5,746,647 in gross proceeds, thereby maintaining its ownership at 9.9% of the outstanding common shares.

This funding is seen positively as it not only brings a Tier I miner onto TAU’s register but also strengthens the company’s balance sheet, according to Analyst Jonathan Guy in a February 20 updated research report for Hannam & Partners. This financial boost is timely as TAU completes its feasibility study and continues exploration, particularly in the Ranch area of the project.

The Lawyers-Ranch project is advanced and expected to re-rate as further exploration is conducted, the feasibility study is finalized by 2027, and environmental assessment decisions are anticipated by 2029, Guy said. The firm's current valuation of TAU stands at CA$5.45 per share.

"TAU has renamed itself Thesis Gold and Silver reflecting the fact that Lawyers-Ranch will produce 3.5 Moz/year of silver over the mine life and 4.3 Moz during years one through five with silver accounting for 23% of revenues, making it one of the largest silver producers in North America," Guy said.

StockInvest.us' AI analysis of the stock concluded, "Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Thesis Gold (& Silver) Inc. stock to perform well in the short-term."

Read the company's investor presentation for more.

Southern Silver Exploration Corp. — 284% Share Price Increase

Southern Silver Exploration Corp. (SSV:TSX.V; SSVFF:OTCQB; SEG1:FSE) ranked 28th overall and also had a 284% increase in share price. In addition, its market cap went up by 401%.

The company is dedicated to the discovery and development of world-class mineral deposits, focusing primarily on its wholly-owned Cerro Las Minitas silver-lead-zinc project. This project is strategically located in Mexico’s renowned Faja de Plata, an area celebrated for hosting several world-class mineral deposits including Penasquito, Los Gatos, San Martin, Naica, and Pitarrilla.

To advance the Cerro Las Minitas project towards becoming a top-tier, high-grade, silver-lead-zinc mine, Southern Silver has curated a team comprising experts with extensive experience in technical, operational, and transactional aspects of mining. This strategic focus and expert backing underscore the company’s commitment to enhancing its project's value and solidifying its position in the mining industry.

In a release on February 9, the company released additional assay results from its ongoing drilling activities, which continue to expand the mineralization at the Puro Corazon claim. The company has reported significant findings of high-grade and silver-enriched polymetallic mineralization, including notable intervals from drill holes 25CLM-210 and 25CLM-212. These results include a 5.8-meter interval with 173g/t silver, 1.5% copper, 1.8% lead, and 17.3% zinc, and a 10.8-meter interval with 121g/t silver, 0.3% copper, 5.1% lead, and 3.9% zinc, which includes a 3.1-meter interval with even higher grades.

The drilling has effectively extended the mineralization to greater depths and towards the southern edge of the claim, building on the high-grade replacement lens initially identified in earlier drill holes. Previous results from this drilling campaign have shown similarly impressive grades, with intervals from other holes like 25CLM-203, 25CLM-205, and 25CLM-206 also reporting high silver equivalent grades.

To date, 21 out of the planned 22 core holes have been completed, with the final hole currently in progress. The results from 14 drill holes have been reported so far, and Southern Silver said it anticipates further assays, including those from underground sampling of the historic Puro Corazon workings, in the upcoming weeks. This continued exploration underscores the potential depth and richness of the mineralization at the Puro Corazon target, affirming Southern Silver's strategic exploration efforts in the area.

"We are encouraged by another batch of good drill results that should continue to help draw investor eyeballs to Southern Silver, which is still trading at a discount to peers on an EV/oz AgEq and P/NAV basis," wrote Red Cloud's Combaluzier in an updated note on the company on February 10. This disconnect is despite its large resource base in a prime Mexican mining jurisdiction and being right next to a main highway and infrastructure."

Combaluzier continued, "We believe further positive drill results, resource expansion, and project de-risking work could continue to help re-rate the stock. We expect the inclusion of Puro Corazon’s mineralization and existing infrastructure in future CLM economic studies to be synergistic and value enhancing."

Red Cloud rated the stock a Buy with a CA$1.30 per share target price, a 63% return at the time the note was written.

"The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity," StockInvest.us said about the stock. "If the lower trend floor at $0.626 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.19% during the next three months and, with a 90% probability hold a price between CA$0.640 and CA$1.02 at the end of this three-month period.

The company's investor presentation has more information.

Volatus Aerospace Inc. — 279% Share Price Increase

Volatus Aerospace Inc. (FLT:TSX.V; TAKOF:OTCQX; ABB:FSE) ranked 16th overall and experienced significant growth with a 279% increase in share price and a 441% rise in market capitalization.

As a global provider of integrated aerial solutions, Volatus Aerospace caters to both commercial and defense sectors, utilizing an array of piloted and remotely piloted aircraft systems (RPAS). The company operates across various industries such as oil and gas, utilities, healthcare, and public safety. Volatus is committed to improving operational efficiency, safety, and resilience by implementing scalable and practical aerial technologies in real-world applications.

On March 11, Volatus announced a significant contract with a leading offshore wind power company to develop and commercialize heavy-lift offshore drone delivery operations. This initiative will support cargo transfers between offshore vessels and wind turbine nacelles in international waters, highlighting the expanding role of uncrewed aerial logistics in complex maritime environments.

The program aims to facilitate safe, reliable, and consistent aerial delivery of tools, components, and critical payloads weighing up to 220 pounds directly from vessels to offshore wind turbine nacelles. This remotely managed operational model is designed to minimize dependence on traditional manual lifts and vessel-to-structure transfers, thereby enhancing maintenance and servicing efficiency in offshore wind settings.

Under this contract, Volatus will oversee full operational support encompassing mission planning, regulatory compliance, technical integration, and flight operations. All cargo drone flights will be centrally controlled from Volatus' Operations Control Center (OCC), ensuring centralized command, real-time situational awareness, and strict adherence to aviation and safety protocols for each mission. This agreement underscores Volatus' commitment to transitioning advanced offshore drone operations into commercially viable services.

Notably, the contract represents the initial phase of a commercial logistics deployment, transitioning beyond a proof-of-concept stage, thereby significantly expanding Volatus' addressable market and introducing the company to a vast new energy infrastructure market, according to a research report by Analyst Rob Goff for Ventum Capital Markets on March 11.

In assessing the market size, Volatus considered major global windfarm operators such as Orsted, which operates over 1,900 wind turbines with a generating capacity of 10.2 GW, and Vattenfall, which manages more than 1,400 wind turbines with a total installed capacity of approximately 6.7 GW. This exploration underscores the substantial potential for Volatus in the renewable energy sector.

The market has recognized the sustained growth in military demand, as evidenced by the performance of Volatus' peers. For instance, Ondas Holdings has seen one and three-month returns of 7% and 9%, respectively. In comparison, Volatus shares have surged by 55% and 34% over the same periods. Despite this growth, there remains a valuation gap between Volatus and its peers, which is expected to narrow following recent Canadian Government policy announcements.

Overall, the contract with the offshore wind operator not only broadens Volatus's market opportunities but also positions the company well within the growing renewable energy and defense sectors, supporting its long-term valuation prospects as it aims to secure larger contracts and recalibrate its financial forecasts and price targets, Goff said.

He maintained his Buy rating with a CA$0.95 per share target price.

The AI analysis on StockInvest.us notes that FLT "holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture, we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold candidate.

Read more about the company in its investor presentation.

Blackrock Silver Corp. — 273% Share Price Increase

Blackrock Silver Corp. (BRC:TSX.V; BKRRF:OTCQX), holding the 25th rank overall, grew significantly with a 273% increase in share price and a 353% rise in market capitalization. The company is actively progressing its premier Tonopah West silver-gold project in Nevada, steering it towards development.

"2025 was a transformative year for Blackrock, and we are grateful to the TSX Venture Exchange for recognizing the shareholder value we have created," President and Chief Executive Officer Andrew Pollard said. "We enter 2026 with strong momentum, supported by a robust treasury, an updated Preliminary Economic Assessment on track for delivery this quarter, and key permitting initiatives advancing at our flagship Nevada project. With silver now designated as a strategic and critical mineral in the United States, Tonopah West stands out as one of the few high-grade, domestic mineral projects progressing towards development."

Earlier this month, the company initiated two significant resource expansion drill campaigns at its Tonopah West project in Nevada, along the Walker Lane trend. The company has launched a fully funded 17,000-meter, two-phased expansion program, which includes a 9,100-meter Eastern expansion across 20 holes and an 8,000-meter Northwest expansion across 10 holes.

The total drilling scope encompasses 17,100 meters across 30 drill sites, with RC pre-collars penetrating non-mineralized cover rock followed by core tails that target vein zones, the company said. Blackrock's phase 2 hydrology program is nearing completion, with five piezometer wells installed to assess water within the proposed decline and test mining area, aiding in the permitting process for exploration decline, test mining, and bulk sample extraction scheduled for the second half of 2027.

Pollard expressed enthusiasm about the progress, stating, "With our updated mineral resource estimate and preliminary economic assessment on Tonopah West on track for delivery by the end of March 2026, we are excited to get the drills back to continue to test the extents of silver and gold mineralization at our deposit with a fully funded 17,000-meter, two-phased expansion program now officially underway."

He highlighted the strategic use of recent seismic data to guide the Northwest expansion program, particularly the 800-meter stepout, and noted the continued success of the Eastern expansion program in following up on the fruitful 2025 campaign.

"We continue to believe that Blackrock is a prime takeout candidate given its large, high-grade resource in a world-class mining jurisdiction," wrote Red Cloud's Combaluzier in an updated note on March 9. "We view Tonopah West as one of the best junior-owned primary silver projects at the moment. Blackrock Silver is one of our silver top picks."

The analyst continued, "We maintain our BUY rating and increase our target price to C$2.40/share (was C$1.70/share)."

Research Capital Corp.'s Stuart McDougall raised his firm's target price after the release.

"Given our favorable expectations, we are now incorporating a 50% upside factor in our exploration outlook and switching to a discounted cash flow model for the core area to reflect its considerable leverage to prevailing metal prices," the analyst wrote. "At our long-term price projections of US$50/oz Ag and US$4,000/oz Au, our model generates an after-tax NPV5% of US$860 million for 100% of the resource, assuming a 75-25 debt-to-equity split for upfront development costs and a 2031 production start-up. At current prices, that jumps to US$2 billion. Our target price is now CA$3.25/share, and we reiterate our SPECULATIVE BUY."

According to the AI review by StockInvest.us, "Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Blackrock Silver Corp. stock to perform well in the short-term."

The company's investor presentation gives more information.

Amex Exploration Inc. — 264% Share Price Increase

Amex Exploration Inc. (AMX:TSX.V; AMXEF:OTCQX; MX0:FRA) was No. 32 overall and experienced a notable 264% increase in share price and a 328% growth in market capitalization. The company has achieved significant success at its wholly-owned Perron Gold Project, situated approximately 110 kilometers north of Rouyn-Noranda, Quebec. This project has yielded substantial high-grade gold discoveries and copper-rich volcanogenic massive sulphide (VMS) zones.

The Perron Gold Project boasts excellent infrastructure, enhancing its operational efficiency. It is easily accessible via a year-round road and is conveniently located just 30 minutes from an airport. Additionally, the project is approximately 6.5 kilometers from the Town of Normétal and is near several mills owned by major gold producers, positioning it advantageously for future development and logistics.

In a March 12 release, Amex announced significant advancements in its Perron Project, including the acquisition of a water treatment plant from ASDR and the initiation of an Environmental Impact Assessment (EIA) by Norda Stelo, aimed at securing operational permits by 2028. These steps mark critical progress in the project's development stages.

The water treatment plant, procured from ASDR, a company based in Abitibi, will initially be utilized in the bulk sample program and is designed to be repurposed for the custom milling phase during Phase 1 of the project, the company said. This strategic reuse aligns with AMEX's commitment to optimizing investments and ensuring effective water management from the project's outset. The choice of ASDR underscores AMEX's dedication to collaborating with established regional partners and employing technical solutions that adhere to the environmental and regulatory standards of the Perron Project.

Concurrently, Norda Stelo has been tasked with conducting the EIA for Phase 1 of the project, Amex noted. This assessment is crucial for the regulatory process required to obtain the necessary permits for the envisioned custom milling operations set for 2028. The EIA will integrate environmental, social, economic, and land-use considerations, thoroughly documenting baseline conditions, assessing potential impacts, and identifying mitigation strategies to ensure the project's responsible development.

"We are proud to partner with ASDR, an Abitibi-based leader, to ensure our water management is proactive and compliant from day one," President and Chief Executive Officer Victor Cantore said. "This investment in high-quality infrastructure for our bulk sample program is designed for long-term use in our future milling operations, showcasing our disciplined approach to capital expenditure. Simultaneously, initiating the EIA with Norda Stelo formalizes our commitment to a transparent, rigorous permitting process as we target 2027 for Bulk Sample operations and 2028 for the start of Phase 1 operations."

According to a March 11 AI analysis of the stock by StockInvest.us, "On the last trading day, Amex Exploration Inc. saw its stock price increase by 2.11%, moving from CA$4.26 to CA$4.35. This marks the third consecutive day of gains for the stock, and it will be interesting to observe whether it continues on this upward trajectory or experiences a slight pause in the coming days. During the trading session, the stock experienced a notable fluctuation of 3.81%, ranging from a low of CA$4.20 to a high of CA$4.36. Despite rising on six of the last ten days, the stock is still down by -4.4% over this period.

The trading volume increased along with the price, which is generally a positive technical indicator, the site said. Specifically, there was a trading volume of 86,000 shares, which is 30,000 more shares than the previous day.

Currently, the stock is positioned in the lower part of a broad and weakly rising short-term trend. This positioning could potentially offer a favorable buying opportunity, StockInvest.us said. However, if the stock breaks below the lower trend floor at $4.26, it could suggest a deceleration in the upward trend and might even signal a possible shift in the trend direction.

Looking ahead, the stock is projected to rise by 5.91% over the next three months, with a 90% likelihood of the price ranging between $4.51 and $5.62 by the end of this period, the analysis said.

Read the company's investor presentation for more.

Sierra Madre Gold and Silver Ltd. — 264% Share Price Increase

Sierra Madre Gold and Silver Ltd. (SM:TSX.V; SMDRF:OTCQX) ranked 43rd overall and demonstrated significant growth with a 264% increase in share price and a 342% rise in market capitalization.

The company is dedicated to the development and exploration of precious metals, primarily focusing on the Guitarra mine located in the Temascaltepec mining district of Mexico.

The Guitarra mine, a key asset for Sierra Madre, is a permitted underground mine that includes a processing facility that was operational until mid-2018 and successfully restarted commercial production in January 2025. In December 2025, the company also announced the acquisition of the past-producing Del Toro silver mine from First Majestic Silver.

Sierra Madre Gold and Silver Ltd. continues to advance its mining and exploration activities, aiming to enhance value and expand its operations within these significant Mexican mining districts.

In February 2026, the company provided an update on its ambitious two-stage expansion plan for the La Guitarra silver-gold mine complex. The first stage aims to boost production from the current 500 tonnes per day to between 750 and 800 tonnes per day. This initial phase involves upgrades to the processing plant, improvements in tailings handling, and the acquisition of new equipment, all of which are currently in progress.

Upon completion of the first stage, Sierra Madre plans to further increase the processing capacity to between 1,200 and 1,500 tonnes per day by the third quarter of 2027. Greg Liller, the Chief Operating Officer and Executive Chairman, expressed optimism about the benefits of the expansion, noting that it is expected to enhance throughput and operational efficiencies, including the underground deposition of some tailings and improved equipment availability. He highlighted the installation of the ball mill and thickener as the next significant milestones, the company said.

The existing crushing circuit includes a primary jaw crusher, a two-tier vibrating screen plant, and a three-foot short head cone crusher. The addition of a new three-foot standard head crusher is anticipated to raise the crushing capacity to the targeted 750 to 800 tonnes per day. Construction for this began in December 2025, and initial testing of the circuit is currently underway.

The foundation earthworks for the thickener, designed to handle 750 to 800 tonnes per day, are nearly complete, with the tank, mixing rake, electrical components, and support structures fabrication well advanced. The project is on track for completion by the end of the second quarter, according to the company.

To support these production increases, Sierra Madre has invested in new equipment, including two new scoop trams, one used scoop, and the rebuilding of two existing scoops. The company has also added a second StopeMate long hole drill and rebuilt a second Jumbo drill. For haulage and materials movement, four new haulage trucks and a second front-end loader have been purchased, bolstering the operational capabilities of the mine.

In a recent commentary from The Silver Advisor, Ted Butler highlighted significant progress in Sierra Madre's expansion efforts at its La Guitarra project. He noted that the company is on track with its two-stage expansion plan, which aims to boost processing rates by 50% to between 750 and 800 tonnes per day by the second quarter. Operational updates include the installation of a new 3-foot standard head cone crusher and the commencement of construction on an upgraded crushing circuit in December, with initial testing already in progress. Additionally, the foundation for a new thickener capable of handling 750 to 800 tonnes per day is nearly complete, and the company has enhanced its grinding capacity with a refurbished ball mill.

Furthermore, Sierra Madre has expanded its underground fleet, acquiring new equipment including two scoop trams. In a separate report dated February 2, Oliver O'Donnell of VSA Capital reaffirmed a Buy rating on Sierra Madre Gold and Silver Ltd. and increased the target price to CA$3.00 per share. This upgrade followed Sierra Madre's successful CA$57.5 million fundraising and the conditional acquisition of the Del Toro silver mine in Zacatecas, Mexico, for up to US$60 million. This acquisition is expected to diversify Sierra Madre's asset base and replicate its value creation strategy from La Guitarra.

VSA Capital has significantly raised its forecasts, expecting EBITDA to surge to US$62 million in 2026, an eleven-fold increase from the previous year, with silver price assumptions for 2026 revised upwards to US$95 per ounce from US$56.

Read Sierra Madre's investor presentation for more.

Orosur Mining Inc. — 242% Share Price Increase

Orosur Mining Inc. (OMI:TSX.V) ranked 49th but had a 242% increase in share price and a 467% rise in market capitalization. The company, which concentrates its efforts in South America, is dedicated to the discovery and development of high-quality precious and base metal deposits in mining-friendly jurisdictions, TSX said. Orosur's principal endeavor is its flagship Anzá project, an advanced gold project strategically located in the prolific Mid-Cauca belt, a region renowned for hosting most of Colombia’s major gold projects.

On February 10, Orosur announced the successful completion of a maiden Mineral Resource estimate (MRE) for the Pepas deposit located at Anzá. Anzá encompasses approximately 330km² of granted exploration titles and applications. Orosur fully owns these through its two wholly-owned subsidiary companies in Colombia, Minera Anzá and Minera Monte Aguila.

The Pepas gold deposit, positioned in the northern part of the Anzá project area, was initially discovered by the company's former joint venture partners in early 2022. However, it was not developed further at that time. Orosur regained full ownership of the Anzá project in November 2024 and promptly initiated drilling at Pepas, yielding positive outcomes. This led to a strategic shift in June 2025, focusing exclusively on drilling at Pepas to expedite the estimation of a Mineral Resource.

"The company's decision to focus its efforts on moving the Pepas deposit toward an MRE has been justified with this result," Chief Executive Officer Brad George said. "We will now immediately move Pepas into the economic study and permitting stage, while at the same time expanding our exploration effort to begin testing e other prospects within the Anzá project."

According to a Feb. 11 research note by Red Cloud's Combaluzier on the news, "While total contained ounces came in below our estimate of ~386k oz Au, grades are higher (vs our estimate of 4.47 g/t), and the ounces are of higher quality than we expected. Having over 90% of the resource in the indicated category should help the company move Pepas towards an economic study. Orosur has quickly advanced Pepas to the MRE stage since fully acquiring the project in November 2024. We continue to believe that high grades, near-surface mineralization, and supportive Au prices make Pepas a compelling near-term production opportunity."

Combaluzier maintained the firm's Buy rating with a target of CA$0.70 per share, a 57% return when he wrote the note.

Notably, 92% of this resource is in the Indicated category, and mineralization begins at the surface, wrote Turner Pope Investments Analyst Barry Gibb in a February 10 note. The company is now poised to develop a mining plan based on these results, which will serve as a foundational step towards achieving regulatory compliance and securing the necessary permits in Colombia through the development of a Programa de Trabajo y Orbras (PTO), he wrote. This permitting process is expected to span several months.

While the resource estimate closely aligns with TPI’s initial production forecast of 238,000 ounces over a 12-year life-of-mine, the gold grade reported is nearly 22% higher than initially projected, Gibb said. Adjusting TPI’s model to reflect this higher grade, while maintaining metallurgical recovery at 87% and processing efficiency at 96.9%, the deposit is expected to enjoy a low All-in Sustaining Cost (AISC) of US$1,281 per ounce. Moreover, considering the recent surge in gold prices, with an average price assumption of US$4,400 per ounce over the production period (up from the previous US$3,300 per ounce), the deposit now boasts a Net Present Value (NPV) at a 10% discount rate of US$189 million and an impressive Internal Rate of Return (IRR) of 162%.

The firm did not issue a conventional rating or price target.

For more information, click here to read the company's investor presentation.

Gatekeeper Systems Inc. — 225% Share Price Increase

Gatekeeper Systems Inc. (GSI:TSXV; GKPRF:OTCMKTS) holds the 44th rank overall and demonstrated notable growth with a 225% increase in share price and a 282% rise in market capitalization. The company is at the forefront of vehicle video safety solutions, primarily serving the school bus and public transit markets. Gatekeeper utilizes advanced intelligent video and data analytics to enhance the safety of transportation environments for children, passengers, and drivers across various transportation modes.

The company's offerings include AI-assisted video analytics, incident management tools, and secure evidence workflows, TSX said. These technologies are integral to supporting comprehensive safety programs and ensuring operational accountability. By focusing on software development and system architecture, Gatekeeper is able to provide customized solutions that directly address the specific needs of transportation operators. This focus is supported by strategic manufacturing partnerships, which allow the company to concentrate its efforts on innovation and tailoring its technology to meet the real-world challenges faced by its clients.

Gatekeeper recently announced securing a contract with Coach & Equipment Bus Sales Inc. to supply mobile data collectors, rear vision systems, video display mirrors, and other video devices for installation on over 55 new paratransit vehicles, according to a March 5 release. The contract is valued at about CA$343,000, mirroring a similar deal with the same OEM bus manufacturer from the previous year valued at around US$666,000.

Paratransit vehicles are designed to cater to individuals with disabilities who cannot fully utilize regular accessible fixed-route bus services. In these vehicles, video technology plays a crucial role in enhancing safety and security for passengers during transit, the company said. Gatekeeper’s rear vision system, known for its rugged design, provides clear visibility behind the vehicle even in total darkness. This system, in conjunction with Gatekeeper’s video display mirror, offers bus drivers an easy-to-use rear view, significantly improving the overall safety of the transportation service.

Last year wasn't the first time the company made money for traders. Simply Wall St noted it has made big jumps before.

"We think that it's fair to say that the possibility of finding fantastic multi-year winners is what motivates many investors," the site said on October 22, 2025. "Not every pick can be a winner, but when you pick the right stock, you can win big. Take, for example, the Gatekeeper Systems Inc. share price, which skyrocketed 948% over three years. On top of that, the share price is up 94% in about a quarter. Anyone who held for that rewarding ride would probably be keen to talk about it."

Over the past three years, Gatekeeper Systems Inc. has shown significant growth in its market performance, the site said. Despite not being profitable in the last 12 months, the company has seen its revenue increase by an impressive 19% annually over this period. This substantial revenue growth is often seen as a precursor to future profits, which can attract investors looking for high growth potential.

Over the last year, Gatekeeper Systems has delivered a total shareholder return of 323%, a notable improvement compared to its five-year total shareholder return of 26% per year. This recent uptick suggests that the company's market performance might be catching up with its business growth, offering a more optimistic outlook for those invested in its journey, the article noted.

Read Gatekeeper's investor presentation to find out more.

Argenta Silver Corp. — 208% Share Price Increase

Argenta Silver Corp. (AGAG:TSX.V; AGAGF:OTCQX; T1K:FSE) ranked 30th overall and showed significant growth with a 208% increase in share price and a 371% rise in market capitalization.

As a silver exploration company, Argenta Silver is dedicated to advancing projects that are pivotal to the global energy transition, TSX said. The company's mission is to generate sustainable, long-term value for its shareholders through the acquisition and development of high-potential silver assets located in mining-friendly jurisdictions throughout Latin America.

Argenta Silver said it is committed to responsible mining practices and is strategically positioned to capitalize on the increasing demand for silver, which is essential for renewable energy solutions and various emerging technologies. This focus not only aligns with environmental and economic goals but also positions Argenta Silver as a key player in the sector, ready to meet the growing needs for critical metals in a transitioning global energy landscape.

In February, the company shared promising results from the second set of assays from its 2025 to 2026 Summer Exploration Program at the El Quevar Project in Salta Province, Argentina. The company reported that these results have successfully identified multiple high-grade silver intervals extending beyond the Yaxtche Deposit, demonstrating significant mineralized continuity over a 100-meter northwest extension and a 170-meter southeast extension.

Further findings were reported from the Mani Copan target, located approximately 500 meters south of Yaxtche, where additional high-grade drill and surface sample results were obtained. Moreover, a gold-copper mineralized zone was confirmed in a follow-up drill hole at the Carmen target, the company said.

Specifically, step-out drilling at the Yaxtche Deposit yielded several notable silver intervals. Hole QVD 426 revealed 517 g/t Ag over 20 meters, including peaks of 1,300 g/t Ag over 5 meters and 5,060 g/t Ag over 1 meter, marking a 50-meter expansion to the northwest. Hole QVD 428 intersected 1,039 g/t Ag over 5 meters, extending the mineralization by 100 meters to the northwest. Additionally, Hole QVD 432 found 639 g/t Ag over 6 meters, pushing the mineralized zone 170 meters to the southeast.

At Mani Copan, significant silver grades were recorded with Hole QVD 431 intersecting 135 g/t Ag over 7.5 meters and 255 g/t Ag over 2 meters, and Hole QVD 433 yielding 4,982 g/t Ag over 7 meters, including 6,850 g/t Ag over 4 meters. Surface rock sampling in this area also returned high-grade silver assays, with values reaching up to 2,493 g/t Ag.

The Carmen target also showed promising results with Hole QVD 427A confirming a gold-copper zone, including 0.29 g/t Au over 22.9 meters and higher-grade intercepts such as 0.66 g/t Au and 0.73% Cu over 1 meter.

Joaquin Marias, President and CEO of Argenta Silver, expressed optimism about these developments, stating, "The latest step outs are very encouraging and extend the footprint of the main deposit by 170 meters to the southeast and 100 meters to the northwest with high-grade continuity, reinforcing that the deposit remains open in multiple directions." He also highlighted the significant findings at Carmen and the continued delivery of high-grade silver results at Mani Copan.

"We view the step-outs at the Yaxtché deposit positively, as they help give us confidence that the deposit could be expanded," wrote Red Clouds' Combaluzier in a February 24 research note. "Our base case assumption is that the existing ~50M oz AgEq resource could be doubled. That said, we continue to believe rigorous metallurgical testing is required to address substandard historical work and de-risk the Yaxtché deposit. Additionally, our thesis for the company also revolves around the discovery of a potential major Au and/or Cu rich deposit at El Quevar (we assume 50-100M oz AgEq in discoveries over time in our valuation). In our view, the discovery of a potential Au-Cu system at the Carmen target bodes well on this front."

Combaluzier maintained his firm's Buy rating with a CA$1.70 per share target price on the company.

Read its investor presentation to find out more.

Standard Lithium Ltd. — 192% Share Price Increase

Standard Lithium Ltd. (SLI:TSX.V; SLI:NYSE American) ranked 35 and saw a notable 192% increase in share price and a 304% growth in market capitalization.

As a leading near-commercial lithium development company, Standard Lithium is dedicated to the sustainable development of a substantial portfolio of large, high-grade lithium-brine properties in the United States, TSX said. The company's primary focus is on its flagship projects situated within the Smackover Formation, recognized as a world-class lithium brine asset, spanning Arkansas and Texas.

In collaboration with the global energy giant Equinor, Standard Lithium is progressing the SWA Project, a greenfield initiative located in southern Arkansas. Additionally, the company is actively developing a significant lithium brine resource in East Texas. This includes the Franklin Project, which boasts the highest known lithium brine grade in North America, positioning Standard Lithium at the forefront of the lithium development industry in the region.

On March 9, Trafigura, a leading player in the global commodities market, announced a significant binding take-or-pay offtake agreement with Smackover Lithium, a joint venture between Standard Lithium Ltd. and Equinor, facilitated through subsidiaries of Equinor ASA. This agreement pertains to the supply of battery-grade lithium carbonate from the South West Arkansas Project (SWA Project). Under the terms of the agreement, Trafigura has committed to purchasing 8,000 metric tonnes of lithium carbonate annually over a decade, totaling 80,000 tonnes, with deliveries set to commence at the start of commercial production.

The SWA Project, which is aiming for an initial production rate of 22,500 tonnes per annum of battery-quality lithium carbonate, presents potential for further expansion, the release noted. Smackover Lithium is expected to reach a Final Investment Decision for the SWA Project within 2026, with the first production anticipated by 2028. This offtake agreement is a strategic move to bolster domestic lithium production and enhance the US supply chain security for this critical mineral, which is vital for battery manufacturing and technological advancements.

The SWA Project plans to utilize direct lithium extraction technology to process lithium from brine resources found in the Smackover Formation in southern Arkansas.

Gonzalo De Olazaval, Head of Metals and Minerals at Trafigura, expressed satisfaction with this partnership, noting, "We are pleased to have signed this offtake agreement with Smackover Lithium, further strengthening our North American critical minerals footprint. The SWA Project is expected to provide a reliable source of battery-grade lithium carbonate produced in the United States, enhancing domestic supply chains. We look forward to collaborating with Smackover Lithium on this strategic project and to delivering this material to customers across North America and globally."

"A buy signal was issued from a pivot bottom point on Thursday, March 05, 2026, and so far it has risen 3.50%," the StockInvest.us analysis of the stock said. "Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the three month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development."

The stock is currently exhibiting sell signals according to its short and long-term moving averages, suggesting a bearish outlook for the stock, the site said. The sell signal is reinforced by the positioning of the long-term average above the short-term average, indicating a negative trend. Should there be an upward correction, the stock may encounter resistance at the price levels of CA$5.96 and CA$6.18. Surpassing these levels could potentially trigger buy signals.

For more information about the company, read its investor presentation.

Quantum eMotion Corp. — 181% Share Price Increase

Quantum eMotion Corp. (QNC:TSX.V), ranked 34th overall has shown impressive growth with a 181% increase in share price and a 269% rise in market capitalization. The company is focused on meeting the increasing demand for cost-effective hardware and software security solutions for connected devices, TSX said.

The company has established itself as a leader in the field of cybersecurity, both classical and quantum, through its innovative Quantum Random Number Generator. This patented technology leverages the inherent unpredictability of quantum mechanics to offer superior security, aiming to safeguard high-value assets and critical systems more effectively.

Quantum eMotion announced on February 27 that it has agreed to acquire SKV Technology Inc., a California-based cybersecurity company. This acquisition involves purchasing 100% of the issued and outstanding shares of SKV, thereby obtaining the SecureKey™ platform, which was developed and commercialized by Jet Lab Technologies Inc. and held by SKV.

This strategic move is set to enhance Quantum eMotion's secure software and cryptographic enforcement strategy by integrating the SecureKey™ platform with its QRNG-powered Sentry-Q orchestration layer, creating a comprehensive, quantum-resilient cybersecurity architecture that spans cloud, network, endpoint, and chip.

The Sentry-Q platform by Quantum eMotion generates QRNG-based entropy and master keys, orchestrates secure point-to-point encrypted communication, and defines critical security policies such as authentication, key rotation, and revocation. On the other hand, the SecureKey™ platform is a high-assurance cryptographic software designed to deliver robust security protections akin to hardware-grade security across various environments including cloud, network, and embedded systems. It implements Sentry-Q secure channels directly on devices, protects keys through hardened software controls integrated with hardware boundaries, and establishes secure tunnels at the edge of network devices, the company said.

The company said the integration of Sentry-Q and SecureKey aims to provide end-to-end quantum-safe security from cloud to chip, enforce policy-driven peer-to-peer communication at the device boundary, facilitate rapid post-quantum cryptography migration through orchestration and firmware-level acceleration, and find immediate application across various sectors including AI data centers, energy systems, defense, industrial IoT, blockchain, and critical infrastructure.

"Sentry-Q orchestrates quantum-grade entropy and security policy at the cloud layer," Quantum eMotion Chief Executive Officer Dr. Francis Bellido said. "SecureKey enforces that trust at the execution boundary through hardened cryptographic software integrated with hardware environments. Together, Sentry-Q + SecureKey deliver full-stack quantum-resilient security — from QRNG-generated entropy to endpoint enforcement — dramatically reducing key exposure risks while accelerating post-quantum migration.”

This acquisition marks a significant step in strengthening company's position in the cybersecurity landscape, promising enhanced security solutions in an era of increasing cyber threats, Quantum eMotion said.

According to a report by Maham Fatima for Insider Monkey that was published on Finviz on March 6, Quantum eMotion "is one of the stocks that should double in three years." The company has recently made a significant move by acquiring the technology assets of SKV, marking a pivotal transition for Quantum eMotion from merely providing quantum entropy solutions to becoming a comprehensive cybersecurity architect.

By merging its Sentry-Q orchestration layer with SecureKey’s enforcement software, Quantum eMotion now offers a quantum-resilient security stack that covers the entire digital ecosystem, from cloud services and networks to endpoints and chips, Fatima wrote. A key feature of this acquisition is the innovative, patent-pending, memory-less cryptographic architecture that addresses the primary vulnerability in modern cybersecurity: stolen credentials. This Zero-Exposure Keys technology eliminates persistent key storage and extraction, thus providing hardware-grade security within a software framework that can be easily deployed.

This integrated solution is particularly timely as various industries are under increasing pressure to transition to post-quantum cryptography, the report noted. It offers NIST-validated encryption and firmware-level acceleration, making it immediately suitable for use in AI data centers, defense sectors, and critical infrastructure.

Read the company's investor presentation for more.

Luca Mining Corp. — 176% Share Price Increase

Luca Mining Corp. (LUCA:TSX.V) holds the 38th rank overall and had a 176% increase in share price and a 274% rise in market capitalization.

Luca operates two wholly-owned assets in Mexico, concentrating on the extraction of gold, silver, and base metals, TSX said. The company is committed to enhancing long-term shareholder value through disciplined operations that emphasize optimization, expansion, and exploration.

Luca Mining is dedicated to sustainable mining practices, ensuring that its operations not only yield financial returns but also result in positive environmental and community outcomes. This approach underlines the company's commitment to responsible resource management and community engagement, positioning it as a conscientious player in the global mining industry.

On March 5, the company reported new assay results from its 2026 drilling program at the Tahuehueto gold-silver mine in Durango, Mexico. The initial drilling has successfully intersected high-grade gold mineralization in breccia zones located immediately below the current mine workings. These findings confirm the continuity of breccia-hosted mineralization within the Creston vein system and underscore the potential for near-mine resource expansion.

Key highlights from the drilling include significant intercepts from surface drill holes, such as 7.6 meters of 16.08 g/t AuEq in hole DDH26-SU-01 and 5.4 meters of 16 g/t AuEq in hole DDH26-SU-03. These results not only demonstrate strong continuity of mineralization approximately 30 meters below Level 23 but also exceed the grades currently being mined and are conveniently located within development distance of existing underground infrastructure.

The successful assay results have validated the geological model for Tahuehueto and are expected to inform near-term mine planning, potentially adding high-grade resources close to existing mine infrastructure, the company said. To date, the drilling program has completed 28 underground holes totaling 6,750 meters and 19 surface holes totaling 3,650 meters, targeting both the Creston Vein and Santiago areas.

Encouraged by these robust drilling outcomes, Luca’s board of directors has approved a 40% increase to the Tahuehueto 2026 drill budget.

Shad Marquitz of Excelsior Prosperity has noted that the season, which runs from late November's U.S. Thanksgiving through the December holidays, is already underway. With gold, silver, and copper prices hovering near record highs, Marquitz believes that significant tax loss selling in mining stocks is unlikely this season. He points out that most precious and base metals producers are trading near their 52-week highs and have maintained positive performance throughout 2025, leaving minimal losses to report in this sector.

In a Streetwise Reports story highlighting experts' top tax-loss selling season picks in December, Shad Marquitz of Excelsior Prosperity noted that the company underperformed compared to its peers in the latter half of the year. Despite recent improvements in their stock prices, he still considers the company to be "undervalued and in the penalty box with investors," suggesting that it may present an opportunity for investors.

The AI analysis by StockInvest.us noted that "given the current short-term trend, the stock is expected to rise 27.87% during the next three months and, with a 90% probability hold a price between CA$2.14 and CA$2.89 at the end of this three-month period."

There is a buy signal from the three-month Moving Average Convergence Divergence (MACD), suggesting some potential upward movement. However, the stock also displays sell signals from both short-term and long-term moving averages, indicating a more negative outlook overall. Additionally, the long-term average positioned above the short-term average generates a general sell signal, further supporting a bearish forecast, StockInvest.us said.

The stock faces resistance at the price levels of CA$1.75 and CA$1.88; and surpassing these levels could trigger new buy signals, the site noted.

Read more about Luca Mining in its investor presentation.

Vizsla Royalties Corp. — 175% Share Price Increase

Vizsla Royalties Corp. (VROY:TSX.V) ranked 50 overall. It experienced substantial growth with a 175% increase in share price and a 440% rise in market capitalization.

The company, which specializes in precious metals, primarily operates as a royalty company, TSX said. Its key asset is a net smelter returns royalty on the flagship Panuco Project, which is managed by Vizsla Silver and is situated in western Mexico. This strategic focus on royalties allows Vizsla Royalties Corp. to capitalize on the valuable metal extraction efforts of Vizsla Silver, positioning it for continued growth in the mining industry.

In December, the company announced its advancement to the OTCQX Best Market under the ticker symbol VROYF, while continuing to trade on the TSX Venture Exchange under the symbol VROY. CEO Michael Pettingell said moving to the exchange represented a significant milestone for the company, highlighting the growth of its asset base and the effectiveness of its team in achieving investment and capital markets success.

Pettingell noted that this upgrade enhances the company's visibility, increases trading liquidity, and facilitates easier access for U.S.-based investors to engage with Vizsla Royalties. The company remains committed to generating long-term value for its shareholders by continuing to strengthen its royalty portfolio and expanding its presence in the capital markets.

The transition to the OTCQX Market is a crucial step for companies aiming to offer transparent trading for their U.S. investors. Companies listed on a qualified international exchange benefit from streamlined market standards that allow them to use their home market reporting to make their information accessible in the U.S. To qualify for OTCQX, companies must meet stringent financial standards, adhere to best practice corporate governance, and demonstrate compliance with applicable securities laws.

According to the AI analysis by StockInvest.us, the stock is currently positioned in the upper part of a broad and declining short-term trend, which typically suggests a good selling opportunity for short-term traders as a reversion to the lower part of the trend is anticipated.

However, a breakout above the top trend line at CA$3.43 could signal a deceleration in the rate of decline and potentially the beginning of a trend reversal.

Additionally, Vizsla Royalties Corp. has received a buy signal from the three-month Moving Average Convergence Divergence (MACD), although there are also negative signals that could impact short-term performance, the site said.

For more information, read the company's investor presentation.

NexGold Mining Corp. — 155% Share Price Increase

NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) ranked 42nd overall and experienced significant growth with a 155% increase in share price and a 330% rise in market capitalization.

The company is actively engaged in the exploration and development of gold, boasting two key projects: the Goldboro Gold Project in Nova Scotia and the Goliath Gold Complex in Ontario.

The company has strategically maneuvered through transactions that have effectively reduced its reliance on a single asset, cleared significant third-party debt, and enhanced its cash reserves, TSX said. These strategic moves are aimed at propelling its principal projects towards financing and construction phases. With critical permits already secured for the Goldboro project and ongoing progress at the Goliath Complex, along with additional assets in Canada and Alaska, NeXGold is emerging as one of Canada’s most promising and advanced gold developers.

NexGold on February 25 provided an update on its extensive diamond drilling program at the Goliath Gold Complex, which encompasses the Goliath, Goldlund, and Miller Deposits. As part of a planned 25,000-meter drilling effort, the current focus is on the Goldlund Deposit, aiming to infill and potentially expand the open pit mineral resources, as detailed in a February 25 release.

The update highlighted results from 1,883 meters of diamond drilling across five drill holes, specifically targeting areas within or near the base of the open pit Mineral Resource at the Goldlund Deposit, primarily within the current Inferred category in Zone 4. Kevin Bullock, President and CEO of NexGold, expressed that these results reinforce the continuity and robustness of gold mineralization at deeper levels of the planned open pit and underscore the potential for further resource expansion.

The geological setting of the Goldlund Deposit is characterized by quartz stockwork veining within sub-vertical granodiorite sills and wide intervals of mineralized intermediate-mafic volcanic rocks intersected by multiple porphyry and granodiorite intrusions, particularly noted in Zone 4, the company said. These drilling results not only confirm the grade continuity within Zone 4 but also contribute valuable data for refining the geological model and enhancing the confidence in future Mineral Resource estimates. NexGold continues to explore deeper levels of the open pit mineral resource and remains optimistic about the continuity of high-grade mineralization suitable for underground mining. The ongoing exploration and drilling are expected to provide further opportunities for resource expansion in the future.

In his January 23 newsletter, Stewart Thomson highlighted NexGold Mining Corp., describing it as "another hot CDNX stock."

He predicted that the company would "walk the mid-tier talk," noting that "management looks good, and the jurisdiction (Canada) does too. So does the chart," and declared, "Blastoff is here! Note the strong buy signal on the Stochastics oscillator (14,7,7 series) at the bottom of the chart."

Ron Stewart of Red Cloud Securities recently provided an optimistic outlook for NexGold, predicting significant advancements for the company in the coming year. In a research report dated January 27, Stewart highlighted that NexGold is poised to update its mineral resource, complete a feasibility study, secure necessary financing, and make a final investment decision for its Goldboro gold project within the year. He expressed confidence in the project, stating, "Goldboro will be the first cab off the rank, with Goliath to follow."

Red Cloud maintained a Buy rating on NexGold, setting a target price of CA$4.30 per share, which reflects valuations for the Goldboro, Goliath, and Niblack projects. At the time of the report, NexGold was trading at approximately CA$1.78 per share.

Stewart also noted NexGold's achievements in 2025, which included securing all federal and provincial permits for the Goldboro project, completing significant infill drilling, and conducting extensive drilling at the Goliath project. Furthermore, NexGold successfully managed its finances by repaying a US$12 million debt facility, repurchasing a net smelter returns royalty, selling a 2.9% royalty for US$24 million, and closing a substantial bought-deal equity financing of CA$112.5 million.

The financial model for Goldboro developed by Red Cloud anticipates the production of 1,200,000 ounces over an 11.3-year mine life, with an after-tax net present value discounted at 5% of CA$854 million and an impressive internal rate of return of 52.7%.

Stewart's report also highlighted a strong buy signal on the Stochastics oscillator (14,7,7 series) at the bottom of the chart, indicating a positive momentum for NexGold's stock, which he described enthusiastically as "Blastoff is here!"

Read more about the company in its investor presentation.

Silver47 Exploration Corp. — 96% Share Price Increase

Silver47 Exploration Corp. (AGA:TSX.V; AAGAF:OTCQB)d was No. 50 overall and demonstrated substantial growth with a 96% increase in share price and a remarkable 578% rise in market capitalization.

The company is on a mission to establish itself as America’s next leading high-grade silver producer, leveraging a portfolio of advanced projects located in Alaska, Nevada, and New Mexico, TSX noted. These projects are characterized by robust resources, exceptional grades, and potential for further expansion, positioning Silver47 at the forefront of U.S. silver development.

Silver47 boasts a significant combined resource, totaling 236 Moz of silver equivalent (AgEq) at an average grade of 334 g/t AgEq inferred, and an additional 10 Moz at 333 g/t AgEq indicated. These resources are situated in some of the most prolific mining jurisdictions in the United States, providing a solid foundation for the company's growth ambitions.

With substantial capitalization, Silver47 is poised to undertake significant drilling programs across all three of its core assets in 2026. The company's ambitious goal is to explore and potentially expand its silver equivalent resources to reach 1 billion ounces in the United States, further solidifying its position as a key player in the silver mining industry.

On March 2, the company announced its upcoming drilling program at the Hughes Project near Tonopah, Nevada, which is situated in the highly prospective eastern extension of the Tonopah Mining district, Nevada’s second-largest historic silver producer.

The program is set to aggressively target the Ruby, Sapphire, and Emerald discoveries, which are located 1.3 to over 4 kilometers east of the historic district's edge, with a minimum of 7,000 meters of drilling planned.

"Since we first drilled the Ruby target in 2020, our technical team has believed this is one of the best high-grade silver-gold discovery opportunities in Nevada," CEO Galen McNamara said. "The holes drilled to date in the eastern extension have shown significant mineralization at Ruby, and those results will directly guide our upcoming program as we continue hunting for the main structure east of the district."

He also highlighted that this drilling is part of a robust 2026 drilling pipeline, which includes the ongoing Mogollon winter program and the upcoming Red Mountain program set to start in June.

"Ruby remains the technical and economic centerpiece," noted E.R. Velasco in sponsored content for TheDeepDive.ca on March 2. "The strongest cited intercept is 1,450 g/t silver equivalent over 3 meters, including 8.41 g/t gold and 813 g/t silver. That result came from a new vein and a 1.5-kilometer step-out east of the historic Tonopah district edge, and the company says the intercept remains open."

The company's investor presentation has more.