# Canadian mining stocks are a bit wild this week, with several small-cap stocks experiencing big pumps and doubling.

Recently, the mining sector in Canada has been booming. The TSX Composite Index rose by 4.84% over the week, while the TSXV venture sector surged even more, with a big pump of 10.57%. The main driver of this market trend has been the strengthening of precious metal prices—gold prices increased by 3.5% over the week to $4218/ounce, and silver prices were even more outrageous, rising by 11.39% to reach a historical high of $56.37/ounce.

**This week's TOP 5 stocks with the biggest rise in the mining sector:**

**1. Mountain Province Diamonds (MPVD)** — Weekly rise 114%
This company holds a 49% stake in the Gahcho Kué diamond mine (in partnership with De Beers), selling 4.09 million carats of diamonds in Q3, generating revenue of 29.2 million Canadian dollars. The mine's grade is expected to improve starting in Q4, having just received financing extension support, along with new funding ammunition.

**2. SPC Nickel (SPC)** — weekly rise 100%
The nickel exploration company announced the latest drill sample data for the Muskox project at the end of November, with 39 samples showing copper-nickel grades >2%, of which 19 were >5%, and PGM grades were also good. The high-grade sample data has ignited market imagination.

**3. AJN Resources (AJN)** — Weekly rise 81%
Ethiopian gold mines and Congolese lithium mining explorers. Recently completed a financing of 3 million CAD to accelerate the due diligence of the Otoke gold mine project and prepare for a big push.

**4. Bear Creek Mining (BCM)** — Weekly rise 65%
The Mexican Mercedes gold and silver mining company produced 6,219 ounces of gold and 18,866 ounces of silver in Q3. This rise was mainly due to the benefits from the increase in gold and silver prices.

**5. Karnalyte Resources (KRN)** — weekly rise 65%
The Saskatchewan potash developer released a new feasibility study report on November 26, with a post-tax NPV of CAD 2.04 billion, an internal rate of return of 12.5%, a mine life of 70 years, and has secured a long-term order of 3.5 million tons per year from Indian buyers, providing the market with long-term expectations.

**Market Background:** Canada's Q3 GDP increased by 0.6%, with a strong rise of 6.7% in crude oil exports. Although the mining sector shrank by 2.2% year-on-year in September (with potash falling the hardest), the rebound in precious metal prices has completely rewritten the logic of this market trend.