The price of gold has been on a heater as of late, adding about 40 per cent or US$1,000 per ounce year-over-year, increasing the prospectivity of gold exploration, development and production stocks by affording them a more richly priced commodity.
The rising tide has by no means lifted all boats, especially among junior miners and developers, where financing difficulties are often more pronounced, but a generalized upswing is taking place and investors are beginning to take notice.
To take advantage of this upswing prudently, it’s essential to match a stock’s stellar performance with the assets and achievements of its underlying company, analyzing whether or not they correspond and offer any insights into future operations.
In the newest edition of Stockhouse’s Weekly Market Movers, I’ll introduce you to a pair of gold stocks that have earned their recently strong returns through value-accretive development.
This content has been prepared as part of a partnership with Canagold Resources Ltd. and Finex Metals Ltd., and is intended for informational purposes only.
Canagold Resources
First in our gold stock duo is Canagold Resources, market capitalization C$84.67 million, a mine developer focused on bringing its flagship New Polaris project in British Columbia into production.
According to its July 2025 feasibility study, New Polaris holds an estimated after-tax net present value of US$793 million at a base case of US$3,300 per ounce of gold, with initial capital costs of only US$181 million, and is expected to average 100,000 ounces in annual production from years 2-8.
The project’s 2025 mineral estimate details 904,400 ounces in probable reserves, 1,107,000 ounces indicated and 266,000 ounces inferred, representing more than US$7.6 billion in gold in the ground. This is in addition to nearly 7,000 tons of antimony, which is trading at more than US$20,000 per ton, representing more than US$140 million in potential revenue.
When we look over press releases from the past 12 months, it’s easy to see why Canagold stock (TSX:CCM) has delivered a 64.29 per cent return year-over-year. The positive news flow began with initial high-grade expansion drilling results in July and August 2024, continued on with environmental permitting progress in October, and was followed by the identification of economical antimony on the property in January and February 2025. A C$3.22 million financing followed in March to support New Polaris’ path to production, leading us to the aforementioned feasibility study.
With a robust project under its control, a soaring gold price, advanced permitting and numerous financing discussions underway expected to reach final decisions in 2026, Canagold’s leadership team, awash in related gold mining experience, is set up to carry on with business as usual, nudging the share price higher with New Polaris’ next milestones.
Catalin Kilofliski, Canagold’s chief executive officer (CEO), joined Stockhouse’s Lyndsay Malchuk to offer insights on New Polaris’ new feasibility study. Watch the interview here.
Finex Metals
Second in our pair of upward-trending gold stocks, we have Finex Metals, market capitalization C$18.53 million, a gold explorer advancing a royalty free, 100-per-cent-owned portfolio in Finland’s Central Lapland greenstone belt, where some of the world’s largest gold miners maintain active operations (as detailed on slide 8 of Finex’s Q3 2025 investor deck).
Finex’s flagship Ruoppa project is adjacent to Agnico Eagle’s Kittilä mine, the largest gold mine in Europe, and resides near the land that hosts Rupert Resources’ recent US$1.7 billion Ikkari discovery, backing up its own prospectivity with trench samples as high as 95.1 grams per ton (g/t) of gold, as well as 2,700 metres of anomalous gold featuring multiple high-grade targets. About 70 per cent of Ruoppa remains unexplored.
The rest of Finex’s portfolio – including the Luova, Kero, Tulppio and Ukko projects – boasts historical sampling or drilling meriting follow-up exploration, granting Finex’s leadership team, de-risked by robust gold Finland-based experience and 39 per cent insider ownership, plenty of fuel to drive positive news flow.
A summer field program at Ruoppa is now underway, following a C$4.3 million financing in April and a recently completed ~140 km² drone magnetic survey to aid in targeting and geological interpretation. Remaining tasks on the docket include:
- Surface sampling (~500 samples).
- Top-of-bedrock drilling (~500 samples).
- Trenching (~1,200 metres).
- Diamond core drilling (2,500 metres) beginning in early August to test zones of high-grade quartz veining discovered in 2024.
The program follows a 2024 exploration campaign that yielded 1,986 top-of-bedrock drilling samples revealing numerous priority targets, with assays coming in as high as 4.2 g/t gold (including widespread pathfinder elements), as well as 52 of 263 grab samples from trenches over known anomalies that returned more than 1 g/t gold, including the 95.1 g/t sample cited earlier.
With multiple avenues to increase Ruoppa’s attractiveness to the market and the ability to deliver results over the near term, Finex is in a strategic position to capitalize on high gold prices through exploration upside.
The market has recognized this position by rewarding investors in Finex stock (TSX:FINX) with a 34.78 per cent return to date, even though the company only listed on June 18, setting an optimistic tone for the summer.
Tero Kosonen, Finex Metals’ chairman and CEO, sat down with Lyndsay Malchuk to speak about ongoing exploration at the Ruoppa gold project. Watch the interview here.
Thanks for reading! I’ll see you next week for a new edition of Weekly Market Movers, where I delve into companies that sat down with Stockhouse for an interview over the past week. Here’s the most recent article, in case you missed it.
Join the discussion: Find out what investors are saying about these gold stocks on the Canagold Resources Ltd. and Finex Metals Ltd. Bullboards and check out the rest of Stockhouse’s stock forums and message boards.
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