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
Nine Mile Metals (NINE.CN)
Market Cap ~ $5.6 million
Nine Mile Metals Ltd. engages in the acquisition, development, and exploration of mineral properties. The company holds interests in Black Point Property located in Eureka County, Nevada. It also holds interest in the Nine Mile Brook and the Canoe Landing Lake West mining projects located in New Brunswick, Canada.
The stock is up 14% on news that it has engaged EarthEx Geophysical Solutions Inc. (EarthEx) to conduct two (2) Borehole Electromagnetic (BHEM) surveys, one at California Lake (CL-23-10-01) and a second at the Wedge (WD-24-01).
A pop near support. Positive price action on the news, but the stock remains contained within a range. A close above $0.10 gets this stock going.
NorthWest Copper (NWST.V)
Market Cap ~ $36.9 million
NorthWest Copper Corp. acquires and explores for mineral properties in Canada. It primarily explores for gold, copper, and silver deposits. The company holds 100% interests in the Kwanika project, and the Stardust project located in north-central British Columbia. It also has 100% interests in the Lorraine-Jajay property; holds 90% interests in the Tam-Misty property; and the East Niv copper-gold prospective exploration target situated in north-central British Columbia. In addition, the company holds an option to acquire a 100% interest in the Top Cat project located in north-central British Columbia.
The stock is up 14% on no news.
An interesting chart setup. The stock is coiled and just needs a breakout above $0.17 for a run.
Aurania Resources (ARU.V)
Market Cap ~ $16.8 million
Aurania Resources Ltd., a junior exploration mining company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in Ecuador and Peru. The company explores for gold, silver, copper, and other precious metal deposits. Its flagship project is the 100% owned Lost Cities Cutucu project comprises 42 mineral exploration concessions covering an area of approximately 207,764 hectares located in southeastern Ecuador.
The stock is up 13% on news that it has closed its first tranche of a private placement for aggregate gross proceeds of up to C$4,000,000. Units were sold under the First Tranche at a price of C$0.20 per Unit for total gross proceeds of C$2,174,872.00.
Another major breakout watch. The stock needs a close above $0.25 to confirm a trend shift and a potential move back to the $0.40 zone.
International Battery Metals (IBAT.CN)
Market Cap ~ $354 million
International Battery Metals Ltd., a technology company, engages in developing technologies for the extraction and processing of lithium from various sources. The company focuses on lithium brine extraction from salars and geothermal brines, as well as oil field brines for petro-lithium extraction projects. It also develops lithium resource properties.
The stock is up 12% on no news.
The stock is in rally mode with multiple green days in a row without any pullbacks. There probably will be a bit of a pullback as profits are taken. A higher low print is required to confirm a new uptrend.
Mawson Gold (MAW.V)
Market Cap ~ $268 million
Mawson Gold Limited operates as a gold exploration company in Finland and Sweden. The company also explores for cobalt, copper, lead, zinc, and silver deposits. Its flagship project is the Rompas-Rajapalot project that consists of 5 granted exploration permits and 8 exploration permit applications located in Finland.
The stock is up 11% on no news.
Rally mode and a strong uptrend. The next resistance zone comes in at $1.00. The current higher low comes in just below $0.75.
Top 5 Losers
PharmaTher Holdings (PHRM.CN)
Market Cap ~ $20 million
PharmaTher Holdings Ltd., a specialty pharmaceutical company, develops and commercialize specialty pharmaceuticals exhibiting the adoption and permitting novel delivery methods to enhance patient outcomes. The company’s product pipeline includes KETARX, a hydrochloride injection for the treatment of Parkinson’s disease, Amyotrophic Lateral Sclerosis, complex regional pain and Rett syndrome, and anesthesia and procedural sedation, as well as Ischemia reperfusion injury. It also develops KETARX, a microneedle patch, for mental health, neurological, and pain disorders; and KETARX On-body pump for the maintenance of general anesthesia for diagnostic and surgical procedures.
The stock is down 23% on news the Company has received the receipt of an Amendment Acknowledgment Letter for its Priority Original Abbreviated New Drug Application for Ketamine from the U.S. Food and Drug Administration and assigned a Generic Drug User Fee Amendments of 2022 goal date of October 29, 2024.
Structure of a head and shoulders pattern here. Support, or the neckline, comes in at $0.18. A close below this leads to a major drop.
Ares Strategic Mining (ARS.CN)
Market Cap ~ $26 million
Ares Strategic Mining Inc., a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia. It also holds 20% interest in the Vanadium Ridge property, which consists of 20 mining claims covering an area of approximately 5,200 acres located in the Kamloops, British Columbia; and an 100% interest in five properties located in Ontario, Canada.
The stock is down 14% on news of a private placement to raise up to $4,000,000 at a price of $0.26 per share.
Just a range currently with the stock testing a support level around $0.18. There is some support below at $0.16 as well. A close above $0.22 gets the breakout.
Docebo Inc (DCBO.TO)
Market Cap ~ $1.55 billion
Docebo Inc. operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company’s cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.
The stock is down 19% on news it has reported Q1 2024 results.
The stock has been making higher lows and higher highs, but that uptrend has come to an end. Earnings has caused a huge sell off breaking below the current higher low. Unless the stock can recover above $56 by the end of the day, the stock is likely entering a new downtrend.
Argo Living Soils (ARGO.CN)
Market Cap ~ $3.9 million
Argo Living Soils Corp. engages in agribusiness. The company develops and produces organic products, including soil amendments, living soils, bio-fertilizers, vermicompost, natural pesticides and fungicides, and compost tea kits formulated specifically for high value crops. It has an agreement with Connective Global SDN BHD to research and development of biochar for agricultural and industrial applications.
The stock is down 17% on no news.
A breakdown after taking out the $0.18 resistance zone a few weeks back. The next support comes in at $0.10.
Red Pine Exploration (RPX.V)
Market Cap ~ $15 million
Red Pine Exploration Inc. engages in the acquisition, exploration, and development of mining properties in Canada. Its flagship project is the Wawa Gold Project that covers an area of 7,182 hectares located to the east of the Town of Wawa in northern Ontario.
The stock is down 30% on a further update on assay results for the Wawa Gold Project.
The stock has gapped down hard and is now once again testing previous record low levels. Will buyers step in here? Watch for the daily closes to confirm whether buyers can hammer out a bottom here and develop a range.
