Canadian Undiscovered Gems With Strong Fundamentals

Itafos

Market Cap: CA$432.7m

Operates as a phosphate and specialty fertilizer company.

Mako Mining

Market Cap: CA$382.2m

Engages in gold mining and exploration activities in Nicaragua.

Corby Spirit and Wine

Market Cap: CA$395.2m

Manufactures, markets, and imports spirits, wines, and ready-to-drink cocktails in Canada, the United States, the United Kingdom, and internationally.

Reconnaissance Energy Africa

Market Cap: CA$164.7m

A junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana.

Majestic Gold

Market Cap: CA$146.0m

A mining company, focuses on exploration, development, and operation of mining properties in China.

Dundee

Market Cap: CA$206.5m

A publicly owned investment manager.

TWC Enterprises

Market Cap: CA$450.9m

Owns, operates, and manages golf clubs under the ClubLink One Membership More Golf brand in Canada and the United States.

Genesis Land Development

Market Cap: CA$170.7m

An integrated land developer and residential home builder, owns and develops residential lands and serviced lots in the Calgary Metropolitan Area, Canada.

Pinetree Capital

Market Cap: CA$183.9m

A venture capital and private equity firm specializing in early, later stage venture, middle market, mature, later stage, turnaround and growth capital investments in micro and small cap companies.

Yellow Pages

Market Cap: CA$162.6m

Through its subsidiaries, provides digital and print media, and marketing solutions to small and medium-sized enterprises in Canada.

Westshore Terminals Investment

Market Cap: CA$1.7b

Operates a coal storage and unloading/loading terminal at Roberts Bank, British Columbia.

Total Energy Services

Market Cap: CA$391.5m

Operates as an energy services company primarily in Canada, the United States, Australia, and internationally.

Sailfish Royalty

Market Cap: CA$153.7m

Engages in the acquisition of precious metals royalty and streaming agreements.

Monument Mining

Market Cap: CA$154.5m

Operates as a gold producer, engages in the acquisition, exploration, and development of gold, precious metals, and other base metal properties in Canada, Australia, and Malaysia.

Amerigo Resources

Market Cap: CA$305.2m

Through its subsidiary, Minera Valle Central S.A., produces copper and molybdenum concentrates in Chile.

Santacruz Silver Mining

Market Cap: CA$227.7m

Engages in the acquisition, exploration, development, and operation of mineral properties in Latin America.

ADF Group

Market Cap: CA$200.6m

Engages in the design and engineering of connections including industrial coatings in Canada and the United States.

Olympia Financial Group

Market Cap: CA$258.9m

Through its subsidiary, Olympia Trust Company, operates as a non-deposit taking trust company in Canada.

Alphamin Resources

Market Cap: CA$1.2b

Engages in the production and sale of tin concentrate.

DIRTT Environmental Solutions

Market Cap: CA$170.5m

Operates as an interior construction company in Canada.

Hemisphere Energy

Market Cap: CA$168.2m

Acquires, explores, develops, and produces petroleum and natural gas interests in Canada.

Alvopetro Energy

Market Cap: CA$216.3m

Engages in the acquisition, exploration, development, and production of hydrocarbons in Brazil and Canada.

Orezone Gold

Market Cap: CA$636.9m

Engages in the mining, exploration, and development of gold properties.

Magellan Aerospace

Market Cap: CA$946.8m

Through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe.

Cardinal Energy

Market Cap: CA$1.0b

Engages in the acquisition, exploration, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan in Canada.

EMX Royalty

Market Cap: CA$333.7m

Explores for and generates royalties from metals and minerals properties.

Mandalay Resources

Market Cap: CA$488.5m

Engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties in Australia, Sweden, Chile, and Canada.

Thor Explorations

Market Cap: CA$485.7m

Operates as a gold producer and explorer.

Kolibri Global Energy

Market Cap: CA$323.8m

Engages in the exploration and exploitation of oil, gas, and clean and sustainable energy reserves in the United States.

Valeura Energy

Market Cap: CA$802.4m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

North West

Market Cap: CA$2.7b

Through its subsidiaries, engages in the retail of food and everyday products and services in northern Canada, rural Alaska, the South Pacific, and the Caribbean.

Tornado Infrastructure Equipment

Market Cap: CA$227.7m

Through its subsidiaries, designs, fabricates, manufactures, and sells hydrovac trucks in North America and China.

Silvercorp Metals

Market Cap: CA$1.2b

Acquires, explores, develops, and mines mineral properties.

Freehold Royalties

Market Cap: CA$2.1b

Acquires and manages royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Canada and the United States.

Enghouse Systems

Market Cap: CA$1.5b

Develops enterprise software solutions worldwide.

Winpak

Market Cap: CA$2.7b

Manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico.