Alice Queen (AQX:AU) has announced Alice Queen raises $1M via issue of Convertible Notes
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Fast-food restaurants are losing breakfast customers to convenience stores.
Morning meal traffic to fast-food chains rose 1% in the three months ended in July, while visits to food-forward convenience stores climbed 9% in the same period, according to market research firm Circana.
“Over the long run, convenience stores have taken share, really at foodservice overall, but the morning meal has been their strong suit,” David Portalatin, Circana senior vice president and foodservice industry advisor, told CNBC, noting the trend has largely been driven by what the group calls “food-forward convenience stores.”
For decades, McDonald’s and its rivals have tried to lure consumers away from home to eat their early morning offerings, betting that convenience and unique items will win over diners.
While fast-food chains have made some inroads, 87% of what consumers eat and drink in the morning comes from their own refrigerators or pantries, according to Portalatin. That leaves plenty of opportunity for fast-food chains — and anyone else who wants a slice of the breakfast pie.
Before the pandemic, fast-food chains started seeing a new rival for their breakfast customers: convenience stores. Regional chains like Wawa in the Northeast and Casey’s General Store in the Midwest were expanding their reach and investing in their foodservice options, taking pages from the fast-food companies’ own playbooks.
For a time, lockdowns and the shift to hybrid work reversed those market share gains. But in the three months ended in July, food-forward convenience stores once again gained the upper hand in the battle to serve consumers breakfast, according to Portalatin.
Circana separates food-forward convenience stores like Buc-ee’s and Sheetz from the broader industry, although more chains may soon fit under that umbrella. 7-Eleven, the biggest convenience, or c-store, in the U.S., is planning to invest more in its prepared foods business, inspired by the success of its Japanese business. C-store chain RaceTrac on Wednesday announced that it’s buying Potbelly for about $566 million, although it’s unclear what its plans for the sandwich chain include beyond expanding its footprint.
In recent years, more diners have been watching their budgets, conscious of rising menu prices and a tight job market.
Year-over-year morning traffic to fast-food chains has fallen every quarter for the last three years, according to data from Revenue Management Solutions, which advises restaurants on how to increase sales and profits. In the second quarter, fast-food breakfast visits fell 8.7%.
To see the struggles, look no further than McDonald’s, which dominates the quick-service breakfast category.
″The breakfast daypart is the most economically sensitive daypart, because it’s the easiest daypart of a stressed consumer to either skip breakfast or choose to eat breakfast at home,” McDonald’s CEO Chris Kempczinski said on the company’s earnings call in late July. “And we, as well as the rest of the industry, are seeing that the breakfast daypart is absolutely the weakest daypart in the day.”
McDonald’s morning visits accounted for 33.5% of its traffic in the first half of 2019 but fell to 29.9% in the first half of 2025, according to Placer.ai data. To try to drum up traffic, the chain has included breakfast items in its new Extra Value Meals, including a deal for a Sausage McMuffin with Egg with a hash brown and a small coffee for $5.
To reverse breakfast’s slide, fast-food chains are taking hints from their competition. After years of convenience stores looking to fast-food chains for ideas on how to grow prepared food sales, from installing ordering kiosks to new menu items, the dynamic has flipped.
″[Quick-service restaurants] are looking at late-night sales and early morning sales, and they are directly looking at convenience stores and saying, ‘What is working? How can we bring that to our stores?’” National Association of Convenience Stores spokesperson Jeff Lenard told CNBC.
Prepared foods have offered a lifeline for convenience stores as demand for gasoline, tobacco and lottery tickets has fallen over time. The industry’s overall foodservice sales reached $121 billion in 2024, according to data from the NACS.
Most customers visit the gas pump during the morning and evening rush hours, on their way to and from work, presenting the perfect opportunity for c-stores to sell them breakfast or dinner. This year, 72% of consumers surveyed by InTouch Insight said they saw c-stores as a real alternative to fast-food chains, up from 56% a year ago and 45% two years ago.
Broadly, the c-stores that have focused on fresh food have been winning over more customers.
For example, Wawa has seen its customer base grow by 11.5% since 2022, while fast-food chains McDonald’s, Burger King and Wendy’s have seen their combined customer base shrink 3.5% in the same time, according to data from Indagari, a transaction data analytics firm.
The majority of 1,170 respondents to an InTouch Insight survey for CNBC said that they have purchased made-to-order breakfast from a c-store in the morning in the past three months. Forty-eight percent of respondents said that when they choose breakfast from a convenience store, they are replacing a visit that they might otherwise make to a fast-food restaurant like McDonald’s or Dunkin’.
Buying coffee and breakfast from a c-store likely won’t be cheaper than making it at home. But consumers perceive it as “good bang for their buck,” according to Sarah Beckett, vice president of sales and marketing for InTouch Insight.
Plus, c-store customers get a wider breadth of options. In addition to coffee, gas stations sell energy drinks, protein shakes and yogurt smoothies. And customers can pick up a granola bar or banana to accompany their breakfast sandwich. Fast-food chains lack that kind of variety.
But above all, what matters to consumers is the food itself.
“While [a] convenience store broadly does have some tailwind from being a lower price point, the ultimate differentiator, and what’s really going to set apart the winners from losers, is that quality aspect of it,” Circana’s Portalatin said.
Brady Caviness, a 33-year-old account executive at Bailiwick who lives in Minneapolis, told CNBC that he indulges in a breakfast pizza from Casey’s General Store when he’s traveling. If he’s back home, where there isn’t a Casey’s nearby, he’ll stop by McDonald’s, Dunkin’ or Starbucks if he’s in the mood to buy his breakfast.
The Iowa-based chain is the country’s third-largest c-store chain and claims to be the fifth-largest pizza concept based on its number of locations. Casey’s reported same-store sales growth of 5.6% for its prepared food and dispensed beverages for the three months ended July 31.
Like Taco Bell’s Mexican Pizza, Casey’s breakfast pizza, topped with cheese, scrambled eggs and a choice of bacon, sausage or vegetables, has grown a cult following since its launch in 2001.
“I think Casey’s is kind of a unique thing,” Caviness said. “My whole life, I’ve had the Egg McMuffins.”
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Barrick Mining (TSX:ABX,NYSE:B) has agreed to sell its Hemlo gold mine in Ontario, Canada, for up to US$1.09 billion, continuing the company’s shift away from non-core assets.
The company announced on Thursday (September 11) that Carcetti Capital (TSXV:CART.H), which will be renamed Hemlo Mining, will acquire the mine under terms that include US$875 million in cash, US$50 million in Hemlo Mining shares and as much as US$165 million in contingent payments tied to future gold prices and production.
Barrick President and Chief Executive Mark Bristow said the sale is part of the company’s ongoing capital allocation approach, noting that proceeds will help bolster the firm’s balance sheet and fund returns to shareholders.
“The sale of Hemlo at an attractive valuation marks the close of Barrick’s long and successful chapter at the mine and underscores our disciplined focus on building value through our Tier One gold and copper portfolio,” Bristow said.
Hemlo, located near Marathon, Ontario, has produced more than 25 million ounces of gold over three decades of continuous operation. The mine transitioned from open-pit to underground operations in 2020.
The incoming Hemlo Mining board will include Robert Quartermain, founder of Pretium Resources and former CEO of SSR Mining (NASDAQ:SSRM,TSX:SSRM). He played a key role in the original discovery of Hemlo while at Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK). The company will be led by incoming CEO Jason Kosec, and supported by a consortium that includes Wheaton Precious Metals (TSX:WPM,NYSE:WPM) and Orion Mine Finance.
To finance the acquisition, Hemlo Mining has secured a US$1 billion package comprised of US$400 million in gold streaming from Wheaton, US$415 million in equity and US$200 million in debt.
Wheaton will also take up to US$50 million of the equity raise.
“Hemlo offers a unique opportunity to add immediate, accretive gold ounces from a politically stable jurisdiction, backed by a long history of production and a capable operating team,” said Wheaton CEO Randy Smallwood.
Under the streaming agreement, Wheaton will purchase 13.5 percent of Hemlo’s payable gold until 181,000 ounces are delivered, after which the rate will fall to 9 percent for another 157,330 ounces, and then to 6 percent for the remainder of the mine’s life. Wheaton’s attributable production is expected to average around 20,000 ounces annually for the first decade and more than 17,000 ounces annually over the life of mine, which is forecast to extend for at least 14 years.
For Barrick, the sale continues a multi-year effort to trim smaller, less profitable operations in favor of large, long-life assets that meet its “tier one” criteria. Earlier this year, the company also divested its stakes in Donlin and Alturas, bringing expected gross proceeds from non-core asset sales in 2025 to more than US$2 billion.
While Barrick has emphasized that Canada remains an important exploration jurisdiction, the Hemlo arrangement effectively ends its role as a mine operator in its home country.
Reports of a potential sale had circulated since mid-2024, spurring rumors that Barrick was in advanced talks with Discovery Silver (TSX:DSV,OTCQX:DSVSF) to divest Hemlo; those discussions ultimately did not result in a deal.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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(TheNewswire)
Vancouver, British Columbia TheNewswire – September 15th, 2025 Prismo Metals Inc. (the ‘ Company ‘ ) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to report that its exploration team has identified porphyry style mineralization at its Silver King project located outside the town of Superior in Arizona. Given the proximity of the nearby Resolution Copper deposit (a joint venture between Rio Tinto and BHP), the team is excited about the potential of this same style of mineralization identified at surface within the eastern portion of our claim.
‘ This region is world-class for porphyry systems and base and precious metals, and we believe there is significant untapped potential. Our recent field work at the Silver King mine was successful in identifying several exploration targets apart from the historic silver mine deposit including polymetallic veins, manto replacements and a strongly altered intrusion with stockwork quartz-pyrite veining. Identifying this porphyry style mineralization on the claim block is a very positive development ,’ said Dr. Craig Gibson , Chief Exploration Officer.
Figure 1 . Map showing Silver King project and nearby mineral deposits.
The Silver King deposit is located three kilometers from the Resolution Copper deposit and the high-grade Magma mine, a former copper and silver producer, located 0.6 to 1.5 kilometers to the southwest Mineralization at Silver King is hosted by the same rock sequence that hosts those two deposits but is exposed at surface and is not covered by the thick sequence of unmineralized volcanic rocks that covers Resolution Copper. From 1911 to 1996 the Magma mine was developed on veins and replacement deposits in the Paleozoic and Precambrian strata and intrusive rocks, producing approximately 27.6 million short tons of ore averaging about 4.9% copper with important quantities of zinc, gold (689K oz) and silver (34.3M oz) (Briggs, 2015), eventually leading to the discovery of the nearby Resolution copper deposit (Fig. 1).
M ineralization similar to that at the Magma mine is exposed in several historic mine workings with abundant oxide copper minerals, mainly malachite, which were developed along a northeast dipping limestone horizon near the contact with a quartz diorite intrusion and quartzite along the same structural and stratigraphic trend of the Magma mine. The largest occurrence, at the Black Diamond mine in the eastern portion of the claim block, was developed on a large outcrop of abundant specular hematite and malachite replacing a limestone bed (Fig. 2) .
Additionally, an erosional window in a regional quartz diorite has exposed a felsic intrusion to the east of the Silver King workings that was identified in historical records and now confirmed by Prismo geologists. This felsic intrusion, previously described as a breccia pipe, is characterized by very strong stockwork quartz-pyrite veining in a quartz-sericite altered host rock. This target contains anomalous metal values in soil samples analyzed with the XRF. According to historical reports it has high salinity fluid inclusions typical of a porphyry system, providing evidence for porphyry mineralization on the Silver King claim package.
Figure 2 . Geologic and land map of the Silver King project showing newly described veins in magenta (Ag-Pb-Zn) and green (Cu-Ag) and replacement mineralization in red. The strongly altered intrusion with stock work quartz-pyrite veining is indicated by the crosshatch.
‘Much of the focus of the exploration program to date consisted of a property wide survey of historic mines and prospects surrounding the Silver King workings, ‘ said Gordon Aldcorn, President of Prismo .
‘ The exploration work has resulted in the identification of several mineralized occurrences on the property, including veins in the vicinity of the Silver King mine, and replacement and skarn mineralization in limestone units of the sedimentary sequence near the contact.’
Part of the initial exploration program consisted of a reconnaissance survey of the geology and mineral occurrences as well as a geochemical and alteration mineral survey around the surface expression of the Silver King deposit and a second separate target to the east.
The geochemical survey used a handheld XRF instrument to measure soil samples, and showed discrete anomalies for Cu, Ag, and Sb around the historic glory hole, with the copper geochemistry also associated with the ENE striking Cu bearing vein mentioned previously (Fig. 3). Twenty-nine samples have been submitted to the lab, with an additional fifteen samples from the Ripsey mine.
This initial phase of Prismo exploration on the Silver King project is already generating a better understanding of potential with new structures not fully uncovered in historical mining approaches. This work also helps qualify our upcoming drill program which is currently in the permitting stage and is anticipated to be advanced shortly.
Figure 3 . Soil geochemistry maps for Cu, Ag, and Sb from the Silver King mine. Contours are from values measured in soils by a handheld XRF in the field, with ranges for Cu at 5,619 ppm to 12.5 ppm, Ag at 186 ppm to 1.3 ppm, and Sb at 300 ppm to 3.9 ppm.
Click Image To View Full Size
As previously reported in Primo’s news release of August 28, 2025, the Company geologists identified two previously undescribed veins in the area surrounding the historic glory hole developed on the original exposure of high-grade silver at the Silver King deposit. Visual inspection and analysis with a handheld XRF show two distinct veins, one with abundant silver lead and zinc and the other with copper and silver values.
Figure 4 . Location of the Company’s projects within the Arizona Copper Belt
Qualified Person
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans. References to mineralization at the Magma Mine and Resolution Copper deposit is not necessarily indicative of mineralization on the Silver King property.
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(2) Briggs, D., 2015, Superior, Arizona: An old mining camp with many lives, Ariz. Geol Survey Contributed Report CR-15-D, 13p.
About the Silver King and Ripsey Mines
Discovered in 1875, the Silver King mine was one of Arizona’s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world’s largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . The unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.
The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990’s. Limited sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.
About Prismo Metals Inc.
Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
Phone: (416) 361-0737
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Gordon Aldcorn , President gordon.aldcorn@prismometals.com
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘ intends’ or ‘ anticipates ‘, or variations of such words and phrases or statements that certain actions, events or results ‘ may’, ‘ could’, ‘ should’, ‘ would’ or ‘ occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Gold’s record-setting price run continued this week, with yet another new all-time high in the books. Silver also fared well, breaking US$42 per ounce.
According to Bloomberg, gold has now also surpassed its inflation-adjusted all-time high of US$850 per ounce, which it set more than 45 years ago on January 21, 1980. The news outlet notes that at the time the US was dealing with currency issues, inflation and recession concerns.
These are problems that sound all too familiar today. This week brought the release of the latest US consumer price index (CPI) data, which shows a 0.4 percent month-on-month increase for the all-items index — that’s ahead of estimates and the most since the start of 2025.
Meanwhile, core CPI, which excludes the food and energy categories, was up 0.3 percent from July. On an annual basis, core CPI was up 3.1 percent, while overall CPI rose 2.9 percent.
US producer price index (PPI) data also came out this week.
The index, which measures costs at a wholesale level, showed an unexpected 0.1 percent month-on-month decrease for August; the result was the same for core PPI.
Attention is now shifting to the US Federal Reserve’s next meeting, which is set to run from September 16 to 17. For weeks now the central bank has been widely expected to cut interest rates, and experts believe this week’s CPI and PPI numbers support that idea.
“Today’s CPI may appear to offset yesterday’s PPI, but it wasn’t hot enough to distract the Fed from the softening jobs picture. That translates into a rate cut next week — and, likely, more to come’ — Ellen Zentner, Morgan Stanley Wealth Management
CME Group’s (NASDAQ:CME) FedWatch tool now shows odds of 93.9 percent for a 25 basis point cut, while the likelihood of a 50 basis point reduction stands at 6.1 percent.
Bullet briefing — Mining majors in mega M&A, Newmont to exit TSX
Anglo, Teck to merge in US$53 billion deal
Anglo American (LSE:AAL,OTCQX:AAUKF) and Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) announced that they plan to merge in a US$53 billion transaction.
The new entity, which the companies say will be one of the world’s largest copper producers, will have assets in Canada, the US, Latin America and Southern Africa.
Its primary listing will be in London, but its headquarters will be in Canada — a commitment that Teck CEO Jonathan Price told BNN Bloomberg will be ‘perpetual.’ In a bid to safeguard its critical minerals sector, Canada said last year that it will only greenlight foreign takeovers of large critical minerals miners in ‘exceptional circumstances.’
The companies expect annual pre-tax synergies of about US$800 million by the end of the fourth year following the completion of the arrangement.
Experts say the zero-premium, all-share tie up is the second largest mining deal ever, and the biggest in more than a decade. It comes not long after other high-profile M&A attempts involving both companies — Teck rejected a bid from (LSE:GLEN,OTC Pink:GLCNF) in 2023, and Anglo turned down an offer from BHP (ASX:BHP,NYSE:BHP,LSE:BHP) last year.
Newmont to delist from TSX
While the Anglo-Teck deal puts Canada front and center, major miner Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) is backing away from the northern nation. The company said it has applied to voluntarily delist its shares from the TSX amid low volumes.
Newmont also said the move will help boost administrative efficiency and reduce expenses. The firm has faced increasing costs since acquiring Newcrest Mining in 2023, and sources familiar with the matter recently told Bloomberg that it’s looking to lower costs by around 20 percent.
Newmont will retain its primary listing in New York, as well as listings in Australia and Papua New Guinea. Its TSX delisting is expected to be effective on September 24.
Barrick to sell Hemlo for US$1.09 billion
Also making a move away from Canada this week was Barrick Mining (TSX:ABX,NYSE:B), which has agreed to sell its Hemlo gold mine to Carcetti Capital (TSXV:CART.H) for US$1.09 billion.
Located in Ontario, Hemlo has operated for 30 years, producing over 21 million ounces of gold during that time. The sale comes as Barrick divests non-core assets and pivots toward copper.
The company put Hemlo up for sale earlier this year, and in July was rumored to be selling the operation to Discovery Silver (TSX:DSV,OTCQX:DSVSF); that deal ultimately didn’t pan out.
Carcetti will be renamed Hemlo Mining once the transaction closes, and is expected to uplist from the TSX Venture Exchange’s NEX Board. Its backers include Robert Quartermain, who is known for leading SSR Mining (TSX:SSRM,NASDAQ:SSRM) and Pretium Resources.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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On Thursday (September 11), Canadian Prime Minister Mark Carney revealed the first tranche of projects selected by the newly created Major Projects Office.
The goal of the office is to accelerate timelines for projects deemed to be in the national interest, which include infrastructure, natural resources and technology. The office is being led by Dawn Farrell, who previously served as president and CEO of TransAlta (TSX:TA) and Trans Mountain. Three of the five projects announced are well into permitting or development and the Prime Minister said that the intention was to help them with a final regulatory push or to find the financing needed to complete.
The projects include the Phase 2 expansion of LNG Canada’s Kitimat facility, which will double capacity of liquified natural gas to 28 million metric tons per annum, the development of Foran Mining’s (TSX:FOM) McIlvenna Bay copper-zinc mine in Saskatchewan, and an expansion of Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) and Imperial Metals’ (TSX:III) Red Chris copper-gold mine in Northern British Columbia.
Carney also stated that a second set of projects would be announced before the CFL’s Grey Cup on November 16.
In major M&A news, mining giants Teck (TSX:TECK.B,TSX:TECK.A,NYSE:TECK) and Anglo American (LSE:AAL,OTCQX:AAUKF) announced on Monday (September 8) that they would combine in a US$70 billion “merger of equals.” If approved, the resulting company will be called Anglo Teck, and will be headquartered in Vancouver, British Columbia.
In a news release, Teck said the deal would create US$800 million in pre-tax recurring annual synergies by year four, with US$1.4 billion in pre-tax yearly earnings from optimizations at the adjacent Collahuasi and Quebrada Blanca copper mines in Chile.
Barrick Mining (TSX:ABX,NYSE:B) announced on Wednesday (September 10) that it had reached an agreement to sell its Hemlo Gold Mine in Ontario to Carcetti Capital, which will be renamed Hemlo Mining, for gross proceeds of US$1.09 billion through a combination of cash and shares.
The sale marks Barrick’s continued divestment of non-core assets following the sale of its Donlin and Alturas projects earlier in the year.
Also, this week saw the TSX release its annual TSX30 top companies list, which included 17 resource companies, 15 of which are precious-metals-focused. The top three precious metals stocks were Lundin Gold (TSX:LUG,OTCQX:LUGDF), Avino Silver & Gold (TSX:ASM) and New Gold (TSX:NGD,NYSE:NGD). The top overall company was Celestica (TSX:CLS), which focuses on AI supply chain optimizations.
In other TSX news, Newmont applied to delist its shares from the exchange on Wednesday citing low trading volumes. The company has been looking to cut overhead in recent years, and the move could lower administrative costs and improve efficiency, Reuters reports.
South of the border, the US Bureau of Labor Statistics released its consumer price index data on Thursday, which showed inflation had ticked up to 2.9 percent over the same period last year. The numbers, along with last week’s weak jobs report, will be factors for the Federal Reserve when it meets for its September meeting next week.
As of Friday afternoon, over 95 percent of analysts are expecting the central bank to make a 25 point cut to the rate, bringing it to the 4 to 4.25 percent range.
For more on what’s moving markets this week, check out our top market news.
Markets and commodities react
Canadian equity markets were mostly positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) set another new record high on Thursday, climbing to 29,409.74 before retreating to end the week up 0.97 percent to 29,283.82.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) performed even better, climbing 3.67 percent to finish Friday at 879.67. However, the CSE Composite Index (CSE:CSECOMP) went the opposite direction, shedding 2.17 percent to end the week at 153.81.
The gold price was in focus again this week as it climbed to a new record high of US$3,667 per ounce on Tuesday, as analysts predict a rate cut by the Federal Reserve when it meets next week. Gold ended the week up 2.74 percent at US$3,642.70 per ounce.
Silver had a similarly explosive week, climbing past US$42 per ounce for the first time since 2011 and gaining 3.82 percent on the week to close Friday at US$42.16.
Copper also saw gains this week rising 2.17 percent to US$4.65 per pound. Meanwhile, the S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) posted a slight decrease of 0.1 percent to end the week at 548.34.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Guardian Exploration (TSXV:GX)
Weekly gain: 94.44 percent
Market cap: C$14.34 million
Share price: C$0.175
Guardian Exploration is an exploration and development company with a portfolio of oil and gas and mineral properties.
Among its properties is the Sun Dog gold project covering an area of 9,415 hectares in the Kivalliq Region in Nunavut, Canada. The site is located near the historic Cullaton Lake mine, which produced 100,000 ounces of gold between October 1981 and September 1985.
The company acquired the project on May 2 from New Break Resources (CSE:NBRK). Under the terms of the deal, Guardian received a 100 percent interest in the property, along with mineral rights and 60 drums of Jet A fuel in exchange for 5 million shares and a cash payment of C$75,000.
Guardian also reimbursed New Break C$18,830 for annual rent and granted New Break the option to buy back a 20 percent interest in the property for C$1.00.
The most recent news from the project came on Monday, when the company reported that it is commencing a one-month field program at the site that will include geological mapping, soil sampling and trenching. Guardian plans to perform follow-up exploration and drilling in 2026.
2. Sokoman Minerals (TSXV:SIC)
Weekly gain: 80 percent
Market cap: C$13.57 million
Share price: C$0.045
Sokoman Minerals is a discovery-oriented company with a portfolio of gold projects and one of the largest land positions in Newfoundland and Labrador, Canada. It also owns a 40 percent stake in the Killick lithium project, a 40/40/20 joint venture with Benton Resources (TSXV:BEX,OTC:BNTRF) and Piedmont Lithium (OTC Pink:PLLTL).
Its primary focus is on its flagship Moosehead gold project located in Central Newfoundland. The advanced project consists of 98 claims covering 2,450 hectares and hosts an orogenic Fosterville-style gold system, according to Sokoman. The company has defined seven zones with high-grade mineralization through over 130,000 meters of drilling.
Sokomon announced on Friday that it was commencing diamond drilling at the site with the focus on testing the Eastern and Western Trend gold zones for depth extensions as well as undiscovered parallel zones. The drill holes will test to a depth of 1,000 meters.
Additionally, the company reported on September 2 that it expanded its land position at its Crippleback Lake gold-copper property to 13,000 hectares and planned to mobilize for induced polarization surveys, sampling and mapping of the site immediately.
3. CopAur Minerals (TSXV:CPAU)
Weekly gain: 61.11 percent
Market cap: C$11.84 million
Share price: C$0.145
CopAur is a gold exploration and development company advancing its flagship Kinsley Mountain oxide gold project in Nevada, United States.
The project is home to a historic open pit gold mine that produced approximately 138,000 ounces between 1995 and 1999. According to the project page, the property hosts an indicated mineral resource of 418,000 ounces of gold with an average grade of 2.63 grams per metric ton (g/t) gold.
On August 7, the company announced that it was shifting its full focus to advance work at its Kinsey Mountain project.
The company’s most recent news came on Monday when it reported that it had hired Andrew Neale as its new CEO. Neale brings more than 35 years of mining experience to CopAur and has held senior positions with Freeport-McMoRan (NYSE:FCX) where he oversaw operations at its Grasberg copper-gold mine in Indonesia.
The company added that it was currently awaiting a decision from the Nevada Bureau of Land Management on a pair of permits for the Kinsey Mountain site, with one allowing it to test for reclamation at the heap leach pad and the other to allow it to restart production.
4. Silver North Resources (TSXV:SNAG)
Weekly gain: 60 percent
Market cap: C$26.72 million
Share price: C$0.40
Silver North Resources is primarily focused on advancing a portfolio of silver assets in the Yukon, Canada.
Its flagship Haldane silver project covers an area of 8,164 hectares in the Yukon’s Keno Hill Silver District and has seen silver exploration dating back to the late 1800s. The property hosts several deposits, including the Main Fault and the West Fault targets, which have produced high-grade silver assays up to 3,267 g/t over 1.26 meters at the West Fault and both zones hosting additional amounts of gold, lead, and zinc.
The company announced on August 15 that it commenced a 10 hole drill program at Haldane to follow up on the discovery of the Main Fault zone in 2024.
Additionally, the company announced on August 20 that it had begun its initial exploration program at the Veronica property at its GDR project in the Yukon. The program is eligible for partial funding up to C$30,000 as part of the Yukon Mineral Exploration Program.
5. Blue Star Gold (TSXV:BAU)
Weekly gain: 53.12 percent
Market cap: C$25.67 million
Share price: C$0.245
Blue Star Gold is a gold exploration and development company operating in Nunavut, Canada.
Its flagship asset is the Ulu gold project, which includes the Ulu mining lease and the Hood River property, together forming a 12,000 hectare land package. The property features a renewable 21 year mining lease for the advanced-stage Flood Zone deposit.
As per a February 2023 updated mineral resource estimate (MRE), Ulu holds a measured and indicated resource of 572,000 ounces of gold from 2.54 million metric tons of ore at an average grade of 7.02 g/t gold, along with an additional inferred resource of 303,000 ounces of gold from 1.28 million metric tons of ore at 7.34 g/t.
Blue Star also owns the Roma gold project, located on 11,532 hectares of crown mineral claims and 4,119 hectares of mineral exploration agreements in Nunavut’s High Lake greenstone belt.
On Wednesday, Blue Star reported results from surface samples at its Auma prospect at Roma. The company said it had collected a total of 133 samples, with 44 returning gold grades above 1 g/t, including two samples with grades of 151 g/t and 125 g/t gold. The sampling program extended Zone 3, which is untested by drilling, by an additional 35 meters for a strike length of 130 meters.
Additionally, Blue Star also found high values of copper in quartz veining, with one sample producing a grade of 7.64 g/t gold and 4.2 percent copper.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
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.
Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 Percent
Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 PercentTop 5 Canadian Mining Stocks This Week: San Lorenzo Gold Shines with 329 Percent Gain
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Canadian Prime Minister Mark Carney has announced the country’s first five nation-building projects.
In March and April, the Build Canada Strong platform was a cornerstone of Carney’s election campaign, which came amid increasing trade tensions between Canada and the US. Among his promises was to create a Major Projects Office (MPO) that would review projects deemed to be in the national interest.
That office was established over the summer, with a release saying it would be headquartered in Calgary and overseen by former TransAlta (TSX:TA,NYSE:TSE) and Trans Mountain CEO Dawn Farrell.
The MPO was created as part of a shift in the regulatory framework for approving infrastructure and resource projects in Canada. Part of that will involve streamlining reviews and assessments, as well as reducing duplication between the federal and provincial governments, an issue that has hindered investment in Canada over the last 20 years.
“One of many studies has shown that the regulatory requirements in Canada have increased by more than 40 percent since 2006 and that’s been suppressing investment growth by 9 percent,” Carney said on Thursday (September 11).
In his statement, the prime minister introduced the first tranche of projects, and suggested the second will be announced before the Canadian Football League’s Grey Cup match, scheduled for November 16.
He also outlined criteria for projects to be covered by the MPO. They must be in the national interest, and must strengthen Canada’s autonomy, resilience and security; they must also have clear benefits for Canadians.
The first group of projects selected by the MPO has already seen significant development.
The prime minister noted that they have already been through extensive consultation with Indigenous communities, and have worked with provincial and territorial governments to meet necessary regulatory standards.
For these, Carney said the goal is for the MPO to get them across the finish line.
“In some cases, they are in the last stages of regulatory approvals. In most cases, there is some aspect of the financing or support packages for the projects that remain to be determined,” he said.
Mining, energy projects highlighted in first tranche
Among the first five projects featured are three involving Canada’s mining and energy sectors:
Additionally, the MPO has committed to supporting the Darlington New Nuclear Project in Clarington, Ontario. This project aims to develop the first small modular reactor in a G7 country.
The MPO will also help speed up the expansion of the Contrecour Terminal container project at the Port of Montreal. This expansion is expected to boost shipping volumes along the St. Lawrence Seaway.
A project that could be included in a future announcement is the Pathways Plus carbon capture project, which the prime minister said will eventually lead to further oil sands development and the construction of a pipeline to reach markets beyond the US. Additionally, Carney said the MPO is looking at upgrades to the Port of Churchill, as well as an Arctic economic and security corridor, a high-speed rail corridor between Toronto and Québec City and Wind West Atlantic Energy, which would provide wind power to the provinces on the Atlantic coast.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Platinum is heading for a third consecutive annual deficit in 2025, with the World Platinum Investment Council (WPIC) projecting an 850,000 ounce shortfall as demand continues to outpace weak mine supply.
In its latest Platinum Quarterly, the WPIC states that despite a 22 percent year-on-year decline in demand, a lack of metal is expected to create a supply shortfall that’s only 13 percent lower than 2024’s 968,000 ounce shortfall.
Its call comes amid a price breakout for platinum, which pushed past US$1,450 per ounce in July.
Why is the platinum market in deficit?
The biggest challenge for platinum has been weak refined production, which slipped to 1.45 million ounces during the quarter from 1.54 million ounces produced during the same time last year.
This has led the WPIC to predict a 6 percent decrease in primary supply to 5.43 million ounces, down from the 5.76 million ounces produced in 2024. Output declines in top producer South Africa have had outsized effects on supply, as Q1 output came in at just 713,000 ounces, as heavy rainfalls negatively impacted production.
Although output grew to 1.05 million ounces in the second quarter, it was still 8 percent lower than in Q2 2024.
Additional decreases to output are also expected in Zimbabwe and North America, slipping 4 percent and 26 percent, respectively. However, Russia is set to see a 1 percent rise in output, increasing to 686,000 ounces from 677,000 in 2024.
On a more positive note, recycling supply saw an increase to 423,000 ounces during Q2 from 379,000 reported in 2024. This has led the WPIC to predict a 6 percent annual increase to 1.6 million ounces from 1.52 million last year.
The majority of this increase comes from growth in automotive recycling, aided by higher platinum group basket prices. However, the WPIC notes that despite the growth, recycling will remain depressed compared to historic levels.
The WPIC predicts an overall supply decrease of 3 percent in 2025 to 7.03 million ounces, from 7.28 million ounces in 2024. With three years of deficits, the group is also expecting further drawdowns of above-ground stocks with a 22 percent decrease to 2.98 million ounces, representing four and a half months of demand coverage.
In recent years, stockpiles have fallen from 5.51 million ounces in 2022 to 4.8 million ounces in 2023 and 3.83 million ounces in 2024.
“I don’t think we’re going to see any meaningful mine supply response at these levels. It’s also worth bearing in mind that these are, for the most part, deep-level underground mines. So even if we had another 50 percent increase in the basket price, you’re still not going to see a supply response over the near to medium term,” he said.
Watch Sterck discuss the platinum market.
He went on to explain that development times for mining operations will take several years and wouldn’t be possible on time frames shorter than 18 months.
“Recycling is definitely much more price elastic than mine supply over the near to medium term,” Sterck said.
However, he added that while people tend to scrap vehicles at a consistent rate, the pace and overall supply entering the market from the auto sector is constrained.
“Yes, we’ve seen quite a big increase in the platinum price year to date, but it’s not the main driver of the economics for those scrap aggregators and recyclers. It’s really more of a palladium story, even more so than rhodium. So, you need a sustained increase in palladium prices to drive a meaningful change there,” Sterck said.
Demand to weaken in 2025, jewelry a bright spot
Despite the expected deficit, the WPIC expects demand to weaken this year.
Q2 saw automotive demand fall to 769,000 ounces, down from 788,000 ounces in the year-ago period.
The WPIC’s expectation is that the auto sector will require 3.03 million ounces of platinum in 2025, a 3 percent decrease from the 3.11 million ounces needed in 2024. Likewise, the council is expecting a decrease in industrial demand for the metal as consumption drops off by 22 percent to 1.9 million, down from 2.42 million ounces last year.
Jewelry demand, however, has been on the rise, with the expectation that it will increase by 11 percent to 2.23 million ounces in 2025. The WPIC suggests the higher growth is owed to its discount relative to gold, and notes that it is seeing the most substantial increase in China — fabrication is seen growing 42 percent in 2025 to 585,000 ounces.
“What’s driving that increase has been fabrication funded by wholesalers, and they’re promoting platinum because they’ve seen a huge drop in their gold jewelry sales,” Sterck explained.
Despite an increase in holdings of bars, coins and exchange-traded funds, overall investment demand was dragged down in Q2 by a 317,000 ounce decrease in stocks held in exchanges due to tariff-related concerns.
Sterck said ongoing uncertainty in the platinum market earlier this year caused physical metal to shift from overseas markets into the US as traders began to worry about tariffs being applied.
Although movement reversed as traders were told tariffs wouldn’t be applied, fears were later stoked when copper tariffs were announced, and an “ideological disconnect” between the White House and South Africa emerged.
“Given that the current US administration has shown that it is willing to use tariffs as a kind of stick, if you like, for enacting foreign policy, you kind of come back to this sort of whole situation where there’s a non-zero chance of platinum being subject to tariffs in the US,” Sterck commented during the conversation.
Overall, the WPIC expects total platinum demand to drop by 4 percent year-on-year in 2025 to 7.88 million ounces.
Will the platinum price rise further in 2025?
Fundamentals should remain the primary driver for platinum. Despite weakening demand through the first half of 2025, a structural deficit in the market still exists due to a lack of supply to close the gap.
However, Sterck suggested the mining supply is likely to increase before the end of the year.
“This year was particularly accentuated by flooding in South Africa during the first quarter of the year, so we do expect a bit of an increase in mining supply,” he said. However, he also noted that until there are more significant changes to the amount of supply, the price conditions aren’t likely to change much.
“Fundamentally, at the moment, it just appears that the platinum price at current levels isn’t sufficient to attract enough metal into the market to really ease those market conditions,” Sterck noted.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices.
In a letter published Wednesday, the office of the inspector general for the Labor Department cited the BLS’ recent decision to reduce data collection activities for two key inflation reports, as well as the large downward revision in employment estimates it announced Tuesday. It said it is reviewing the ‘challenges’ the agency has faced ‘in collecting and reporting closely watched economic data.’
The probe comes one month after President Donald Trump fired the head of the BLS as part of a broader pressure campaign that critics say has risked politicizing a part of the government that has long played a crucial role in the business world. The BLS, which is tasked with collecting data on economic indicators such as jobs and inflation, had generally been left alone by previous administrations.
But Trump began zeroing in on the BLS as his frustrations with the Federal Reserve mounted, coinciding with economic numbers that started to warn about a broader U.S. slowdown.
Since then, the labor market has slowed considerably. Just before the head of the BLS was fired, the department released a weaker-than-expected jobs report, citing claims of data manipulation that critics say are unfounded.
Federal Reserve Chair Jerome Powell, another frequent target of Trump’s, has said Fed policymakers are ‘getting the data that we need to do our jobs’ and stressed the importance of the federal statistical agencies.
‘The government data is really the gold standard in data,’ he added. ‘We need it to be good and to be able to rely on it.’
Trump then nominated E.J. Antoni, an economist with the far-right Heritage Foundation, as the new head of the BLS, a move many economists have criticized.
Trump and other BLS critics have focused on the department’s revisions to its reports, a practice that dates back decades and has been generally seen as a necessary part of the challenge of collecting near-term economic data. It has also faced other challenges in data collection, including budget challenges and low response rates to its collection efforts.
The BLS previously said the decision to reduce inflation data surveys was necessary given existing budget constraints. Meanwhile, mainstream economists say the latest downward revisions — while large — are part of a routine annual process known as benchmarking.
While response rates to the bureau’s surveys have been declining, researchers recently found that revisions and falling response rates did not reduce the reliability of the jobs and inflation reports.
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Clem Chambers, CEO of aNewFN.com, shares his outlook for gold and silver.
He also shares his thoughts on the broader US economy.
‘We’re in an elevated inflationary situation, QE is coming, interest rates are coming down, the dollar’s going to fall hard and precious metals are going to go up,’ Chambers emphasized.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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