Written by SmallCapPower.com

Increasing geopolitical tensions have created upward momentum in the gold price of late. The 5 Canadian gold mining stocks—not only small caps—identified below have the lowest extraction costs (or cash costs) in the mining industry and, given their low production costs, will likely benefit most from a rising gold price environment. 

Cash costs refer to the mining and processing costs incurred per ounce; the lower the cash cost to extract each ounce of gold, the higher the potential profits.

Below are five of our industry-leading gold producers with forecasted 2017 cash costs as low as US$525/oz. 

1. Alacer Gold (PINK:ALIAF/TSX: ASR)
Gold

Alacer Gold Corp. is an intermediate gold mining company engaged in mining, development and exploration of mineral deposits in Turkey...

• Market Cap: $796.4 million
• Revenue (LTM): $185.8 million
• D/E (LTM): 0%
• Expected Cash Costs (per ozt. 2017): $525

2. Barrick Gold Corp. (NYSE/TSX: ABX)
Gold

Barrick Gold Corporation is a gold mining company engaged principally in the production and sale of gold and copper, as well as related activities, such as exploration and mine development...The Company has nine producing gold mines, which are located in Canada, the United States, Peru, Argentina, Australia and the Dominican Republic.

• Market Cap: $31,225.7 million
• Revenue (LTM): $11,191.1 million
• D/E (LTM): 115.8%
• Expected Cash Costs (per ozt. 2017): $525

3. Goldcorp Inc. (NYSE:GG/TSX: G)
Gold

Goldcorp Inc. is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper....

• Market Cap: $17,451.9 million
• Revenue (LTM): $4,580.6 million
• D/E (LTM): 22.8%
• Expected Cash Costs (per ozt. 2017): $535

4. Guyana Goldfields Inc. (PINK:GUYFF/TSX: GUY)
Gold

Guyana Goldfields Inc. is a Canada-based mineral development and exploration company focused primarily on the acquisition, exploration and development of gold deposits in Guyana, South America...

• Market Cap: $1,339.9 million
• Revenue (LTM): $225.9 million
• D/E (LTM): 50.3%
• Expected Cash Costs (per ozt. 2017): $525

5. Torex Gold Resources Inc. (PINK:TORXF/TSX: TXG)
Gold

Torex Gold Resources Inc. is a Canada-based resource company engaged in the exploration, development and operation of the Morelos Gold Property in the Guerrero Gold Belt in southern Mexico, approximately 180 kilometers to the southwest of Mexico City and 50 kilometers southwest of Iguala...

• Market Cap: $2,044.4 million
• Revenue (LTM): $312.5 million
• D/E (LTM): 60.5%
• Expected Cash Costs (per ozt. 2017): $550