Important TSX Venture Composite Index Update
On October 23rd, with the TSX Venture Composite Index trading at 964.23, NIA issued an alert titled “We’re in a Stock Pickers Market, TSX Venture Could Trade Sideways for Six Months.”
In that alert, NIA warned that after rising for eight consecutive months, the TSX Venture was unlikely to push significantly higher in the immediate term. We wrote:
“We don’t think the TSX Venture’s 2023 lows will ever be seen again, but after so many straight months of gains, strong resistance is likely near the 2021 highs. Ultimately it will break out far above the 2021 highs, but not immediately.”
Looking at the long-term chart, the recent short-term peak happened exactly where it should have:
From the November 2023 low of 506.65 to the October 2025 high of 1,037.22, the TSX Venture surged 104.72% in just 23 months. This mirrors the index’s worst bull market in history… the 101.46% gain from January 2016 to January 2018, which took 24 months.
Natural resource investors have been following this pattern closely. Many concluded that, at minimum, the TSX Venture would likely double off the November 2023 bottom, creating a logical early profit-taking zone.
During the 2016–2018 run, the TSX Venture’s 101.46% gain outperformed gold’s 28.73% rise (from $1,061.20/oz to $1,366.05/oz) by a factor of 3.53x.
But this cycle is different.
From November 2023 to October 2025, while the TSX Venture climbed 104.72%, gold exploded from $1,928.10/oz to $4,381.48/oz, a massive 127.24% gain.
In other words:
Since November 2023, the TSX Venture has been underperforming gold… something that has never happened in any previous TSX Venture bull market.
This makes one thing absolutely clear:
It is 100% impossible for the TSX Venture’s bull market to be over.
We are still only in the early innings.
However, as we warned in our October 23rd alert:
“It will no longer be possible to blindly throw a dart at high-risk gold stocks and make money in 2026.”
This is where NIA thrives. We do the deep research required to identify the few winners that will rise even if the broader TSX Venture trades sideways or pulls back.
One of those standout opportunities is Viva Gold (TSXV: VAU), which is the company that NIA highlighted in its October 23rd alert as extremely undervalued and positioned for a major move regardless of broader market sentiment.
That call is playing out perfectly.
Viva Gold (TSXV: VAU) hit $0.19 today — a new high since NIA’s suggestion — up 123.53% since NIA’s August 7th announcement at $0.085 per share!
And this is only the beginning of the stock picker’s market we predicted. Click here to read NIA’s October 23rd alert!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA’s President has purchased 100,000 shares of VAU and may buy more or sell at any time. This message is meant for informational and educational purposes only.
