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
Bluestone Resources (BSR.V)
Market Cap ~ $70 million
Bluestone Resources Inc. engages in the exploration and development of precious metals. Its flagship asset is the Cerro Blanco gold project located in Southern Guatemala in the department of Jutiapa.
The stock is up 100% on news that Guatemala’s Ministry of Environment and Natural Resources approved the environmental permit amendment for the Cerro Blanco gold project to change the mining method from the existing permitted underground development to surface mining development.
A very strong pop on good news. A major gap up and the stock is set to close above the $0.32 resistance zone. Watch to see how the stock reacts near the major $0.50 psychological zone. We are seeing some sell off near this zone with today’s candle.
Libero Copper and Gold (LBC.V)
Market Cap ~ $5.8 million
Libero Copper & Gold Corporation engages in the acquisition, exploration, and development of mineral properties in Canada, the United States, Argentina, and Colombia. It explores for copper and gold deposits. The company owns 100% interest in the Mocoa porphyry copper-molybdenum deposit located in the Eastern Cordillera of Colombia. It also has an option to acquire a 100% interest in the Big Red porphyry copper-gold property comprising 20 contiguous claims covering an area of 26,000 hectares in northwestern British Columbia; and a 70% interest in the Esperanza Porphyry gold-copper project located in San Juan, Argentina. In addition, it has an option to acquire Tomichi porphyry copper-molybdenum deposit located in the Colorado; and the Big Bulk Porphyry Gold-Copper property located in British Columbia, Canada.
The stock is up 40% on no news.
A reversal looks likely with the stock breaking above the range with a close above $0.02. The stock is retesting this area and so far the buyers are stepping in. The stock is set to confirm its first higher low in a new uptrend with a close above $0.04.
DEFI Technologies (DEFI.NE)
Market Cap ~ $155 million
DeFi Technologies Inc., a technology company, engages in the development and listing of Exchange Traded Products (ETPs). The company’s ETPs provide investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indexes, and other decentralized finance instruments. It also participates in decentralized blockchain networks by processing data transactions that contribute to network security and stability, governance, and transaction validation.
The stock is up 36% on no news.
The stock did confirm a double topping pattern with the close below $0.64. Today’s move can still be seen as a correction move in a downtrend. A close above $0.64 will turn things around and end the current downtrend.
Chakana Copper (PERU.V)
Market Cap ~ $22 million
Chakana Copper Corp. engages in the acquisition, exploration, and development of mineral properties. It holds an option to acquire a 100% interest in the Soledad copper-gold-silver project located in Central Peru.
The stock is up 25% on no news. Three days ago, the Company announced it had completed a $3 million upsized financing with investments from Gold Fields and Rick Rule.
This is an example of what happens when a stock breaks above a technical range zone and is followed by good news. A strong surge with no looking back.
Drone Delivery Canada (FLT.V)
Market Cap ~ $82 million
Drone Delivery Canada Corp. designs, develops, and implements a commercial drone-based logistics platform in Canada and internationally. The company’s logistics infrastructure solution is an integrated turnkey logistics platform, which include industrial-grade drones, automated DroneSpot depots, automated battery management systems, a detect and avoid radar system, and proprietary FLYTE software to integrate various components into a solution.
The stock is up 21.6% on news of multiple agreements as part of the second phase project at the Edmonton International Airport.
The stock is continuing its rip after closing the gap above $0.24. Watch for some pullback as profits are taken as the stock approaches a resistance zone.
Top 5 Losers
Tower Resources (TWR.V)
Market Cap ~ $12 million
Tower Resources Ltd. engages in the acquisition, evaluation, and exploration of mineral properties in Canada. The company primarily explores for gold, silver, and copper deposits. Its properties include the Rabbit North project that comprises 34 mineral tenures covering an area of 16,400 hectares located in the Kamloops mining division of British Columbia; the Nechako gold project, which include 10 mineral tenures totaling 2,975 hectares in the Nechako Plateau Region of central British Columbia; the Belle copper-gold porphyry project consisting of seven claims totaling 1691 hectares located in the Toodoggone district; and the More Creek project comprising 5 mineral tenures totaling 6,430 hectares situated in the Golden Triangle District of northwest British Columbia.
The stock is down 34% on news of results of the first follow-up diamond drill holes on the newly discovered Rainbow porphyry Cu-Au-Mo zone on its Rabbit North property in the heart of the Kamloops mining district.
The stock is breaking below a major support zone. Expect further downside unless the stock can reclaim the $0.10 zone.
Brunswick Exploration (BRW.V)
Market Cap ~ $107 million
Brunswick Exploration Inc., a junior exploration and evaluation company, engages in acquiring, exploring, and evaluating mining property assets in Canada. The company primarily explores for lithium. It owns interests in mining claims, which are located in Quebec, Ontario, Saskatchewan, Newfoundland, Manitoba, New Brunswick, and Nova Scotia.
The stock is down 22% on news it has reported the final drill results from the Fall 2023 program at the Mirage Project, located in the Eeyou Istchee-James Bay region of Quebec.
This stock is breaking below support at $0.70. A large decline and the next support level comes in around the $0.40 zone, however the psychological $0.50 zone is providing some support.
Hut 8 Corp (HUT.TO)
Market Cap ~ $883 million
Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers.
The stock is down 20% on no news.
Major support is breaking here and the stock is set to drop further to test support around $9.00. Watch the $10.00 psychological zone to see if buyers step in with a response.
EV Nickel (EVNI.V)
Market Cap ~ $32 million
EV Nickel Inc., a nickel exploration company, engages in the acquisition, evaluation, and exploration for mineral properties in Canada. It holds interests in the Langmuir nickel project that comprises 158 claims located in Timmins, Ontario; and the Shaw Dome project, which includes 942 mining claims covering approximately 21,000 hectares located south of Timmins, Ontario.
The stock is down 19% on no news.
Some profit taking after the stock has made a parabolic move. Support comes in around the $0.30 zone.
Aston Bay (BAY.V)
Market Cap ~ $22 million
Aston Bay Holdings Ltd. acquires, explores for, and develops resource properties in the United States and Canada. The company explores for copper, lead, zinc, gold, silver, and precious metal deposits. It holds a 100% interest in the Storm Copper and Seal Zinc project that consists of 117 contiguous mining claims covering an area of approximately 302,725 hectares on Somerset Island, Nunavut, Canada; and the Blue Ridge Gold project covers an area of 4,445 hectares located in central Virginia, the United States.
The stock is down 16% on no news.
The stock is attempting to fill in the gap and is now seeing some selling around the $0.16 zone. For the stock to fill in the gap, it requires a close above $0.16. This will trigger a major bull run as gap fills tend to continue the bullish momentum.
