Canadian mining stocks exploded this week. The TSX Composite Index rose 4.84%, while the TSXV was even more exaggerated, directly pumping 10.57%.

Shaan Province Diamonds leads the rise, with a weekly increase of 114%, currently priced at C$0.075. This company holds a 49% stake in the Gahcho Kué diamond mine in Canada's Northwest Territories (the other half is owned by De Beers), selling 400,000 carats of diamonds in Q3, generating revenue of C$29 million. The decline in ore quality weighed on Q3, but Q4 is expected to improve.

The nickel concept has also become popular. SPC Nickel has risen by 100%, a small-cap stock on TSXV, primarily operating the Muskox copper-nickel project, with the latest samples showing 19 samples with nickel-copper grades exceeding 5%, and there are also many high-grade PGM mines.

Gold and silver also followed suit. Gold rose 3.5% to US$4218, while silver surged 11.39% to a new high of US$56.37. Bear Creek Mining (Mercedes gold and silver mine) and potash company Karnalyte both rose by 65%.

Overall, the rise in commodity prices and the improvement in liquidity of small-cap stocks are the twin engines driving this rebound in mining stocks. Some say Canada is the most concentrated place for mining companies globally (accounting for around 40%), and this week's performance confirms that.