It was the second straight 12 months of great progress within the worth of B.C.-based mining shares. That worth greater than doubled in 2019 from 30.1% in 2018.
Nevertheless, in 2021 the common progress within the worth of these shares slipped to its second lowest degree in 5 years: 64.2%.
2020’s high performing mining inventory, Freegold Ventures Ltd. (TSX:FVL), grew 1,580% to $0.84 per share from $0.05 in 2019. The worth of this 12 months’s high performing inventory, Capstone Mining Corp. (TSX:CS), elevated 214.8% to $5.73 per share in contrast with $1.82 in 2020. Capstone’s 2021 progress price would have positioned it sixth on 2020’s listing.
Whereas the final 5 years have been a roller-coaster trip for B.C.’s high performing mining shares, the common progress in these shares for 2021 landed at roughly the place it was 5 years in the past.
However, median progress in worth at B.C.’s high performing shares elevated by 51.2% in 2021 from 35.2% in 2017 regardless of experiencing a lot of the identical volatility as the common.
This means that whereas shares on the high of the listing aren’t rising as a lot as they have been 5 years in the past, shares on the backside of the listing are doing higher, thereby reducing the ceiling for B.C.’s high performing mining shares however elevating the ground.
(This text first appeared in Enterprise in Vancouver)