In this summary report, we will take a quick look at the top 5 gainers and losers up or down double digits on the Canadian stock markets.
Here is a summary of the intraday action of assets:
Top 5 Gainers
Condor Resources (CN.V)
Market Cap ~ $55 million
Condor Resources Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Peru. It explores for gold, silver, copper, lead, and zinc deposits, as well as other precious and base metals.
Today the stock is up 34.5% on news that Condor Resources has begun drilling at its Pucamayo East Project located in the Ica Department, Peru. The planned initial program will be a minimum 2,000m, in up to 15 drillholes.
A bullish breakout in the works? Condor Resources has gapped up and is set to close above a flag pattern triggering a bullish momentum pattern. Today’s daily close will be important for the bulls.
Auxico Resources Canada Inc. (AUAG.C)
Market Cap ~ $17 million
Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico, Bolivia and the Democratic Republic of the Congo.
The stock is up 25.7% and is continuing the momentum from yesterdays double digits percentage move. SEDI filing reports are out today showing insider buying:
Just a few days ago, the Company announced that the Minastyc Project, a Company-controlled property, has received a Mining Registration Certificate from the National Mining Agency as it relates to the property mining title, which secures the Company’s rights to the exploration and exploitation of the property until 2040.
Today’s price action is showing a breakout above the major resistance zone of $0.20 after breaking above the down trendline yesterday. If momentum continues and the stock remains above $0.20, the move can take the stock to $0.28 and then $0.32.
Temas Resources Corp. (TMAS.C)
Market Cap ~ $1.28 million
Temas Resources Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for iron, titanium, and vanadium deposits. Its flagship property is 100% owned the La Blache property comprising 48 semi-contiguous minerals, which covers 2,653.25 hectares located in Quebec, Canada. The company was formerly known as Clean Earth Chemical Corp.
The stock is up 52.9% on no news. In fact, the latest news from the Company came out in July 17th 2023. Investors continue to speculate on the reason for this move on message boards.
After printing record lows hitting $0.03 recently, the stock is now in a range. Worth watching for bottom pickers with today’s volume and percentage gain. The trigger however would be a breakout above $0.19.
Beyond Oil (BOIL.C)
Market Cap ~ $31 million
Beyond Oil Ltd. develops and manufactures proprietary and patented formulation that reduces the fatty acids from cooking oil. Its unique technology and methodology integrate into customers’ existing oil filtration systems and extends the life of frying oil.
The stock is up 15.4% on news of a non-brokered private placement of up to 3,600,000 unit at a purchase price of C$0.75 per Unit, for total gross proceeds of up to US$2.0 million.
The stock is once again retesting a broken support zone now turned resistance. In recent days, the sellers did come in at this zone to bring the share price lower. The stock is attempting a second time with momentum from today’s news.
Safe Supply Streaming (SPLY.C)
Market Cap ~ $13 million
Safe Supply is the first world’s company investing in the burgeoning safe supply ecosystem and the third wave of drug policy reform.
The stock is up 20% on no news. But it should be mentioned the Company just began trading on the CSE on October 3rd 2023.
Not much to say after three days of price action other than we have lows at $0.12 and highs at $0.37.
Top 5 losers
Manning Ventures Inc. (MANN.C)
Market Cap ~ $1.81 million
Manning Ventures Inc. engages in the sourcing and exploration of mineral properties in Canada. It primarily explores for gold, silver, lead, copper, iron ore, zinc, cobalt, uranium, and rare earth deposits. The company holds an 100% interest in the Flint Lake gold project, which includes 4 separate unpatented claims covering an area of approximately 1,712 hectares located in Kenora town, northwestern Ontario.
The stock is down 20% after announcing a consolidation of its common shares.
The stock is contained within a range and could retest 52 week lows again at $0.015. Watch to see if bulls can defend for a bounce otherwise new record lows are inbound.
Velan Inc. (VLN.TO)
Market Cap ~ $118 million
Velan Inc. designs, manufactures, and markets industrial valves worldwide. The company offers quarter-turn valves, such as ball, high performance three-piece ball, general purpose ball, metal-seated ball, triple-offset, high performance cryogenic butterfly, coker ball, and cap-tight batch digester capping valves; and gate, globe, and check valves, including pressure seal, bolted bonnet high pressure, cast steel, cast stainless steel corrosion resistant, small forged, bonnetless, and dual-plate check valves, as well as maintenance valves for nuclear service.
The stock is down 51.8% on news that France has blocked a deal that would have seen the takeover of two Canadian-owned French maker of valves used in nuclear reactors because it did not think commitments made by U.S. bidder Flowserve were sufficient.
Talk about a major gap down! The stock is near the major support zone of $5.00 and may see some buyers step in around here. A good example of buy the rumor sell the news.
Maritime Resources Corp. (MAE.V)
Market Cap ~ $16 million
Maritime Resources Corp., an exploration stage company, engages in the exploration and development of mineral properties. It primarily explores for gold, silver, copper, lead, and zinc deposits. The company holds 100% interests in the Lac Pelletier project that consists of 16 mineral claims and 1 mining lease covering an area of 443 hectares located in Rouyn Noranda, Quebec; and Wright Property located in Temiscaming, Canada.
The stock is down 14.3% on no news with the latest news release coming out on August 24th 2023.
The stock just printed fresh new all time record lows hitting $0.03 yesterday. A recovery above $0.035 is required to build some upside momentum.
SolGold (SOLG.TO)
Market Cap ~ $540 million
SolGold Plc, a mineral exploration and development company, explores for and develops mineral properties in Ecuador, Australia, Chile, and Solomon Islands. The company primarily explores for copper, gold, silver, and molybdenum deposits. Its flagship project is the Cascabel Project that covers an area of approximately 50 square kilometers located in Imbabura province, Northern Ecuador.
The stock is down 14.3% on no news. However, a week ago, the Company announced audited full year results.
SolGold just printed fresh 52 week lows hitting $0.17. Perhaps this area can provide some support but the stock remains in a downtrend unless it can climb back above $0.24.
Resolute Resources (RRL.V)
Market Cap ~ $21 million
Resolute Resources Ltd., an energy company, engages in the exploration and development of crude oil from shallow sandstone reservoirs utilizing multi-lateral drilling technology in Northeast British Columbia and Northwest Alberta.
The stock is down 12.7% on no news. However, the Company did release an operations update press release on September 25th 2023.
Choppy price action with $0.40 being resistance and $0.24 being support. The stock is just ranging between these levels. A break in either direction will tell us where the stock goes next.
