Latest from The Market Online
The Market Online
10 hours ago
- Business
- The Market Online
@ the Bell: Truce, data, and deals drive market moves
Canada's main stock index took a stumble on Friday, following a record high reached earlier in the session. Markets in both Canada and the US were lifted by the continued stability of a ceasefire between Israel and Iran, along with a series of economic reports that strengthened expectations for potential interest rate cuts by the Federal Reserve later this year. Meanwhile, US stocks moved upward to end the week, indicating a possible continuation of recent market momentum. Investor optimism was further supported by the anticipated release of the Fed's preferred inflation measure and news of a US-China agreement aimed at accelerating the delivery of rare earth materials vital to numerous industries. The Canadian dollar traded for 72.83 cents US compared to 72.86 cents US on Thursday. US crude futures traded $0.30 higher at US$65.54 a barrel, and the Brent contract rose $0.20 to US$67.93 a barrel. The price of gold was down US$13.18 to US$3,382.33. In world markets, the Nikkei was up 566.21 points to ¥40,150.79, the Hang Seng was down 41.25 points to HK$24,284.15, the FTSE was up 63.31 points to ₤8,798.91, and the DAX was up 383.92 points to €24,033.22. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
14 hours ago
- Business
- The Market Online
Top-performing small-cap stocks through mid-2025
This article is written on behalf of Orestone Mining Corp., Goldquest Mining Corp., Voyageur Pharmaceuticals Ltd., Santacruz Silver Mining Ltd. and Almonty Industries Inc., and is for informational purposes only. Please see full disclaimer here. Among the 47 stocks that have graced the stage in Stockhouse's Weekly Market Movers in 2025, as of June 26, a choice few stand out for their differentiated returns year-to-date (YTD), shrugging off an environment of extreme economic uncertainty driven by Trump's tariffs, lingering inflation and ongoing wars in Europe and the Middle East. Here are the top-five stocks on the list, in all their outperforming glory, having bested the TSX Index's 7.17 per cent return YTD by between 20.9 times and 38.6 times: Orestone Mining (TSXV:ORS), C$5.92 million market capitalization, 150 per cent return YTD. Goldquest Mining (TSXV:GQC), C$266.79 million market capitalization, 185.71 per cent return YTD. Voyageur Pharmaceuticals (TSXV:VM), C$44.74 million market capitalization, 188.89 per cent return YTD. Santacruz Silver Mining (TSXV:SCZ), C$348.74 million market capitalization, 228.33 per cent return YTD. Almonty Industries (TSX:AII), C$1.12 billion market capitalization, 277.72 per cent return YTD. Data as of June 26, 2025. Let's take a closer look at these small-cap stocks to clarify why they've performed so well as of late and how investors should begin to size up a potential allocation. 5. Orestone Mining Our first top-performing small-cap stock, Orestone Mining, featured in the February 21 edition of Weekly Market Movers, is advancing a property portfolio prospective for gold, silver and copper in Canada and Argentina. Here's a breakdown: The flagship Francisca property in Argentina holds promise for an oxide gold deposit mineable by open pit and heap leach recovery. The Captain gold-copper project in B.C. hosts a large primarily gold porphyry system that is both permitted and drill ready. Finally, the Las Burras property in Argentina adds large-scale copper exposure backed by historical drilling up to 296 metres grading 0.18 per cent copper, 0.042 parts per million (ppm) gold and 0.006 per cent molybdenum. The company ties it all together with a management team whose track record precedes it, having been involved in identifying, acquiring, developing and/or producing a combined 14 gold and silver deposits and mines. Why is Orestone stock in an upswing? Orestone has been enjoying strong momentum in 2025 thanks to acquiring the Francisca property in February, quickly complementing this milestone with encouraging sampling in March. This was followed up with a value-accretive institutional investment from Crescat Capital closed in June, which will help the company to advance Francisca closer to production, capitalize on record gold prices and potentially generate further shareholder value. 4. Goldquest Mining GoldQuest, featured in the May 2 edition of Weekly Market Movers, is a mineral exploration and development company active on projects in the Dominican Republic. Its flagship Romero gold-copper discovery produced a 2016 pre-feasibility study detailing an after-tax net present value of US$203 million based on a gold price of US$1,300 per ounce and US$2.50 per pound of copper, both comfortably below prices of US$3,328 and US$5.04, respectively, as of June 26. The project is estimated to house 840,000 ounces of gold in probable reserves, almost two million ounces in resources, as well as value-added copper, zinc and silver kickers. The broader Tireo project, which includes Romero, consists of a 50-kilometre-long land package with little in the way of historical drilling and an abundance of highly prospective targets supported by mapping, sampling and surveying. With C$15 million in cash as of January 2025, support from major shareholder Agnico Eagle Mines, and a leadership team with major miner experience well-versed in the Dominican mining industry, Goldquest is primed for delivering more market-pleasing grades as it inches its way towards production. Why is Goldquest stock in an upswing? The top-performing stock has been accelerating with positive momentum in 2025 thanks to ongoing exploration, initiated in April, with a wealth of avenues through which to tease out exploration upside. Exploration will be bankrolled by an ongoing C$16.2 million financing (C$10.7 million closed), which will also fund the finalization of a bankable feasibility study at Romero expected by year end. 3. Voyageur Pharmaceuticals Voyageur, featured in the January 10 edition of Weekly Market Movers, develops and commercializes barium and iodine active pharmaceutical ingredients for reliable and low-cost imaging contrast agents. The small-cap stock, earning the middle spot on our list, is rapidly making inroads into an estimated US$6.3 billion market – which is expected to hit US$12.6 billion by 2032 – having passed human trials for its barium contrast products with flying colors, successfully introducing them to the market this past April. Voyageur's first commercial sale followed soon after in June, demonstrating its revenue-generation capabilities and driving the company to ramp up sales and distribution efforts, most recently highlighted by: As per its investor presentation for June 2025, Voyageur intends to become the first vertically integrated company in the radiology contrast media drug market, offering much-needed competition for market leaders China and India. The foundation for this goal, Voyageur's Frances Creek project in B.C., is home to an estimated 120,000-ton barium sulfate resource valued at C$344 million, representing 50 years of production, which the company believes it can produce at 10x lower cost than legacy methods. Why is Voyageur stock in an upswing? Besides the obvious catalysts of positive human trials, initial revenue and partnerships geared towards vertical integration, there has been a confluence additional factors nudging Voyageur stock higher in 2025. These include initial ore processing at Frances Creek, advancements towards potentially game-changing MRI contrast agents, as well as multiple instances of non-dilutive funding from warrant exercises and Alberta Innovates. 2. Santacruz Silver Mining Santacruz Silver, featured in the February 14 edition of Weekly Market Movers, is in the business of acquiring, exploring and developing mineral properties in Latin America. In Bolivia, the company operates the producing Bolivar, Porco and Caballo Blanco mining complexes, as well as the Reserva mine and the Soracaya exploration project, with current resources of more than 290 million ounces of silver equivalent (AgEq) and reserves standing at more than 53 million ounces AgEq. In Mexico, Santacruz operates the producing Zimapán mine, which achieved record annual production of 4.4 million ounces AgEq in 2024. Collectively, these properties produced 1,590,063 ounces of silver, 20,719 tons of zinc, 2,718 tons of lead and 279 tons of copper in Q1 2025, generating net income of US$9.5 million. This marks Santacruz Silver's fifth-straight quarter with positive results under the metric, following US$29.86 million in Q4 2024, US$4.06 million in Q3 2024, US$1.54 million in Q2 2024 and US$132.66 million in Q1 2024. Armed with about C$47 million in cash on hand and all-in sustaining costs of only US$22.34 per silver equivalent ounce sold as of Q1 2025, Santacruz is in a strong position to meet its goals for the year, including improving recovery rates and reducing costs in Bolivia, as well as enhancing concentrate quality and optimizing processing operations in Mexico. Why is Santacruz Silver stock in an upswing? In the stock market, there's really no better proof of deserving a higher share price than growth and profitability, and Santacruz has delivered on both counts, reaching profitability in Q1 2024, and growing revenue by 8.5x from US$33.1 million in 2020 to US$282.99 million in 2024. The top-performing stock's efficient operations and generational silver resources and reserves point to continued strength, contingent on silver prices holding on to their newfound heights, last trading at more than US$36 per ounce, having gained about 25 per cent year-over-year and about 105 per cent since 2020. 1. Almonty Industries Almonty Industries, featured in the January 31 edition of Weekly Market Movers, is a global tungsten producer disrupting China's dominance of more than 80 per cent of the market for the critical metal, which currently trades at about US$45 per kilogram and offers applications spanning the mining, construction, auto, aerospace, chemical, electronics and military sectors. Here's a portfolio breakdown: Almonty's producing Panasqueira mine in Portugal hosts 22.5 million tons in mineralized resources and reserves and has been in production for more than 136 years. The mine is expected to almost double annual revenue to about US$40 million and production to 124,000 metric ton units (MTU) of tungsten trioxide (WO3) after ongoing upgrades to be finalized in 2027. For reference, one MTU is equal to 10 kilograms. Its Sangdong tungsten mine in Gangwon Province, South Korea, is slated to begin production in 2025 at estimated start-up capex of only US$120 million and cash costs of US$110 per MTU. The property houses one of the largest and highest-grade tungsten deposits in the world, coming in at 36,000 tons of WO3 reserves, 41,000 tons measured and indicated and 218,000 tons inferred. Sangdong also offers value-accretive upside from a molybdenum deposit on the property. Offtake agreements are in place for both metals. The pre-feasibility stage Valtreixal tin/tungsten project in northwestern Spain hosts proven and probable reserves of 9,000 tons, 10,000 tons measured and indicated and 26,000 tons inferred. Initial capex to get the project up and running is estimated at US$42 million, with annual revenue up to US$24 million over five years under the pre-feasibility model. Finally, the Los Santos mine in western Spain, under care and maintenance, adds another 7,000 tons WO3 in resources and reserves to Almonty's growing contribution to the global tungsten supply chain. With production at Sangdong around the corner, U.S. processing ongoing in Buffalo and soon Pennsylvania, as well as effusive support from the U.S. Congress, Almonty is well on its way to fulfilling its goal of controlling 7 per cent of global tungsten supply and 40 per cent of non-Chinese supply by 2027. Why is Almonty Industries stock in an upswing? Looking through Almonty's 2025 news releases, we see the company strategically strengthen its conflict-free tungsten thesis by redomiciling to the United States, securing a partnership with a top firm to build government relations, and signing offtake agreements for tungsten with Tungsten Parts Wyoming and molybdenum with major player SeAH Group. As Almonty ramps up production, current net losses – C$34.6 million in Q1 2025 – will have to show signs of decreasing and eventually turn positive, as operations benefit from greater pricing power, for the top-performing stock to maintain and build upon its recent meteoric rise. On a final note While markets have been somewhat stunned by tariffs through the first half of 2025, and remain cautious moving forward as trade deals progress at a glacial pace, the case is always strong for value creation being stock prices' ultimate arbiter, whether that's on the income statement, through exploration results, or through strategic deals that de-risk the future. I believe the five companies profiled above are a reflection of this fundamental tenet, and it's my intention for the dozens to come in 2025 to be a reflection of it too. Thanks for reading! I'll see you on July 18 for a new edition of Stockhouse's Weekly Market Movers. Here's the most recent article, in case you missed it. Join the discussion: Find out what everybody's saying about these top-performing small-cap stocks on the Orestone Mining Corp., Goldquest Mining Corp., Voyageur Pharmaceuticals Ltd., Santacruz Silver Mining Ltd. and Almonty Industries Inc. Bullboards and check out Stockhouse's stock forums and message boards.
The Market Online
18 hours ago
- Business
- The Market Online
Canfor to close two South Carolina sawmills under ongoing market challenges
Canfor (TSX:CFP) announced its decision to permanently close its Estill and Darlington sawmills in South Carolina, effective August 2025 Canfor posted an operating loss of C$29 million for Q1 2025, with a net loss attributable to shareholders of C$31 million Looking ahead to the second quarter of 2025, North American lumber markets are expected to remain volatile and uncertain Canfor stock (TSX:CFP) opened trading at C$14.31 Canfor (TSX:CFP) announced its decision to permanently close its Estill and Darlington sawmills in South Carolina, effective August 2025. The closures come in response to prolonged weak market conditions and sustained financial losses that have rendered continued operations at the facilities unsustainable. Approximately 290 employees will be impacted by the closures, which will also reduce Canfor's US lumber production capacity by 350 million board feet annually. 'We understand the significant impact this difficult decision will have on our employees,' Lee Goodloe, Canfor Southern Pine's president admitted in a news release. 'This outcome is in no way a reflection of the dedication and hard work of our teams. We are committed to supporting our employees through this transition, including providing severance payments and exploring opportunities for redeployment within our other operations where possible.' The announcement follows Canfor's first-quarter 2025 financial results, reported in May, which exposed the company's ongoing struggles. Canfor posted an operating loss of C$29 million for Q1 2025, with a net loss attributable to shareholders of C$31 million, or $0.26 per share. Canfor also sustained an operating loss of C$46 million in Q4 2024. Despite an increase in North American lumber prices during the quarter—largely driven by supply constraints amid rising global economic and trade uncertainty—Canfor's US operations continued to face significant headwinds. In contrast, the company reported improved results from its Western Canadian operations, following a rationalization strategy implemented in 2024, and another quarter of solid earnings from its European segment. Canfor Pulp also saw modest improvement in Q1 2025, as global softwood pulp market fundamentals began to strengthen early in the quarter. Looking ahead to the second quarter of 2025, North American lumber markets are expected to remain volatile and uncertain. Persistent affordability issues and ongoing disruptions to traditional trade routes due to tariffs are likely to dampen near-term demand. The company has not yet disclosed details regarding severance or support for affected employees but stated it is committed to working with local officials and community partners to ease the transition. The Vancouver-based logging giant also closed two of its sawmills based in Northern British Columbia in late 2024, much to the chagrin of Fort St. John's Mayor. Canfor's decision is an engraved sign of the broader volatility in the lumber industry, which continues to grapple with fluctuating demand, trade tensions, and shifting global economic conditions. Canfor Corp. is an integrated forest products company involved in manufacturing high-value, low-carbon forest products. The company operates through two segments: lumber segment and pulp and paper segment. The company's solid wood products include dimension lumber, specialty lumber and engineered wood products. Canfor stock (TSX:CFP) opened trading half a per cent lower at C$14.31 and has lost 6.65 per cent since the beginning of the year, 2.34 per cent since this time last year. Join the discussion: Learn what other investors are saying about this stock on the Canfor Corp. Bullboard, and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
18 hours ago
- Business
- The Market Online
Dundee Precious Metals buys into Newfoundland gold stock
Galloper Gold (CSE:BOOM) has raised C$250,000 from Dundee Precious Metals (TSX:DPM) to support ongoing development Proceeds will fund exploration on Galloper's Glover Island property, where 2024 drilling yielded multiple intercepts indicative of multi-deposit potential Galloper Gold is a mineral explorer active in the Central Newfoundland gold belt The Newfoundland gold stock has given back 30 per cent year-over-year Galloper Gold (CSE:BOOM) has raised C$250,000 from Dundee Precious Metals (TSX:DPM) to support ongoing development, issuing 5 million shares priced at C$0.05 each through a non-brokered private placement. Galloper will allocate the proceeds towards exploration on its flagship 133-square-kilometre Glover Island property in Newfoundland, 24 kilometres southeast of Corner Brook. The company intends to break ground in Q3 to test the property's numerous mineral occurrences, including a copper anomaly, as well as a historical gold zone featuring a 7.5-kilometre-long trend hosting favorable host rocks. Drilling in 2024 yielded highlights of 15 metres (m) at 2.62 grams per ton (g/t) of gold, 3.80 m at 6.92 g/t gold and 23.5 m at 0.72 g/t gold, which Hratch Jabrayan, Galloper Gold's chief executive officer, believes to support 'the distinct possibility of multiple shallow deposits lined up along a contact zone that may continue well beyond its original 12 kilometre estimate.' All shares issued will be subject to a statutory hold period expiring in four months and one day, as per Canadian securities law. Leadership insights 'The strategic investment by Dundee is a critical sign of support for Galloper's exploration activities as we move towards a robust drill program later this year,' Jabrayan stated in Friday's news release. 'We hope to work collaboratively with Dundee to achieve ongoing success in the mining and minerals industry.' About Galloper Gold Galloper Gold is a mineral explorer active in the Central Newfoundland gold belt. The company's Glover Island and Mint Pond properties are prospective for both gold and base metals. The Newfoundland gold stock (CSE:BOOM) opened unchanged trading at C$0.07. The stock has given back 30 per cent year-over-year. Join the discussion: Find out what everybody's saying about this Newfoundland gold stock on the Galloper Gold Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
18 hours ago
- Business
- The Market Online
AI Strikes Gold: How Technology Is Reshaping the Future of Mineral Exploration
Coreena Robertson, Expert Exchange Web Summit Vancouver 2025 It wasn't just software and startups making waves at Web Summit Vancouver. For the first time, The New Energy Track at the summit hosted its own stage in one of the world's most influential tech gatherings—with AI emerging as a powerful force reshaping how we discover the critical minerals that power the modern world. In Vancouver for the first time, the conference hosted over 15,000 people from 117 counties. Among the speakers leading this charge was Steve de Jong, CEO of VRIFY an AI-assisted mineral discovery platform. During his session titled 'Striking Gold in the Global Minerals Race' , de Jong emphasized that AI isn't just a buzzword—it's a game-changing tool in the race to secure the world's critical mineral supply. 'There's so much data that sits out there today,' de Jong said. 'There's a whole bunch of discoveries waiting to be made just sitting within that data… I think you're going to see an entire wave of AI discoveries in the very near future.' Steve de Jong, CEO VRIFY Mining Meets the Modern Age VRIFY is tackling a central challenge in the mining industry: mineral discovery is time-consuming, expensive, and often inefficient. Traditional exploration methods can take over a decade to result in a working mine. But AI is drastically accelerating that process. 'From discovery to building a mine, you'll often hear 15 years. We focus on making the discovery part as efficient as possible,' said de Jong. 'We want to get to a decision point quickly—either this isn't big enough or yes, it is.' Steve de Jong, CEO VRIFY By layering massive, complex datasets—from geochemistry to satellite imagery to historic drill records—AI can detect hidden correlations that the human brain simply can't compute. 'The human brain can process maybe four or five layers of data. AI can look at 52 layers—and millions of data points—and find the patterns that correlate with something like copper or gold,' he explained. The Myth of 'All the Easy Stuff Is Found' One of the most disruptive ideas de Jong presented was that many high-value mineral deposits may already be discovered—but hidden in plain sight. 'You often hear, 'All the easy stuff has been found.' We just fundamentally disagree,' said de Jong. 'Until very recently, we've never had the tools to squeeze every little bit of insight out of all the data that's been collected. That's changed now with AI.' He cited a powerful example from his time leading Integra Gold, where a massive gold deposit was found just two kilometers from two historic mines—missed for decades because it was hidden under a swamp. 'It turned out to be bigger than either of the two mines next to it. But because all the infrastructure was already there, the environmental impact and development timeline was minimal,' said de Jong. A Critical Tool in the Critical Minerals Race As countries scramble to secure domestic sources of lithium, copper, antimony, and other essential materials, AI-driven exploration is becoming not just a competitive advantage, but a geopolitical necessity. 'Every country in the world is waking up to the fact that they need to supply their own long-term critical mineral supply,' de Jong explained. 'Some of these elements—like antimony—were previously overlooked, but they're essential for things like batteries and defense.' He shared that VRIFY recently worked on a European project where re-analyzing existing data for antimony—a critical mineral often sourced from China—revealed a previously untapped opportunity. 'By literally changing one input in the AI model, we went from looking at gold to uncovering a whole new antimony potential. It's that simple—and that powerful.' A Tool for Investors, Not Just Geologists Beyond mining companies, investors are beginning to embrace AI as a due diligence tool. 'I'm not a geologist. And for a lot of investors, it's hard to keep up with the technical language,' de Jong admitted. 'But AI helps level the playing field. Think of it like an audit of a project's mineral potential.' He revealed that a mining investment fund recently enlisted Verrifi to analyze a prospective project before committing capital—an example of how AI is informing not only discovery but also decision-making. 'It's not about replacing the geology team,' de Jong clarified. 'It's about giving them more insight—and giving investors the confidence that every data point has been considered.' A New Era for Exploration With AI rapidly maturing and tools like Verrifi showing real-world impact, de Jong is optimistic that the mineral exploration sector is entering a transformative new phase. 'You can't look at today's AI with yesterday's eyes. This isn't the same tech from three years ago,' he said. 'I think we're in a new era of exploration—one that's more efficient, more sustainable, and more accessible.' Steve de Jong, VRIFY Everything we touch, everything we use—it all comes from the ground. And now, we finally have the tools to understand that better.' About the Author: This article was produced for the Expert Exchange following Web Summit Vancouver 2025. Coreena Robertson conducted the in-studio interview with Steve de Jong. Join the discussion: Check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
