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
Guanajuato Silver (GSVR.V)
Market Cap ~ $100 million
Guanajuato Silver Company Ltd. engages in reactivating, mining, and producing precious metals in central Mexico. It produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine located in the state of Guanajuato; and silver, gold, lead, and zinc concentrates from the Topia mine located in northwestern Durango.
The stock is up 19% on news the Company has completed the repayment of the US $5,000,000 concentrate pre-payment facility owed to Ocean Partners UK Limited.
Positive news, and silver is doing well. Two strong catalysts for more upside. The stock is testing the $0.30 resistance zone. Watch for a strong candle close to confirm the breakout.
Volatus Aerospace (VOL.V)
Market Cap ~ $31 million
Volatus Aerospace Corp. provides integrated drone solutions for commercial and defense markets in Canada, the United States, Latin America, and rest of Europe. The company offers drone services comprising of infrastructure inspection, mapping, survey, and imaging; public safety and defense equipment; and drone cargo and delivery solutions.
The stock is up 72% on news of a business combination agreement to combine companies in a merger of equals transaction with Drone Delivery Canada.
A very good looking chart with a downtrend, and then basing, with the breakout. The stock is in a new uptrend as long as it remains above the $0.16 zone. The merger is expected to close in Q3 2024.
GoldON Resources (GLD.V)
Market Cap ~ $3.9 million
GoldON Resources Ltd., an exploration stage company, engages in the exploration of mineral properties in Canada. The company primarily explores for gold, silver, and lithium deposits. It holds interests in the Madsen gold project located in the Red Lake Gold Camp; the Slate Falls project located near Meen-Dempster Greenstone Belt within the Uchi Subprovince; and the Springpole Gold project situated primarily in the Keigat Lake Area township of the Red Lake Mining District, Northwestern Ontario. The company also holds interest in the Pipestone Bay project located within the Red Lake Greenstone Belt near the west of the town of Red Lake; the McInnes Lake project located near the north of the town of Red Lake; and the McDonough project located near the north of the town of Red Lake.
The stock is up 31% on news that is is preparing to drill at its West Madsen Property.
A nice chart set up. The stock confirmed its first higher low with a candle close above $0.08. The next major resistance comes in around $0.18. The stock remains in an uptrend as long as it remains above $0.06.
Criterium Energy (CEQ.V)
Market Cap ~ $12 million
Criterium Energy Ltd. engages in the exploration and development of oil and gas. It focuses in the Bulu PSC offshore property located in the East Java, Indonesia.
The stock is up 30% on news it has signed a binding Sale and Purchase Agreement for the arm’s length divestment of its wholly owned subsidiary which holds a 42.5% non-operated working interest in the Bulu Production Sharing Contract for the transaction of US $7,750,000.
I see the skeleton of a cup and handle pattern. Watch for a close above $0.10 to trigger this reversal pattern. The next resistance comes in at $0.14.
Power Nickel (PNPN.V)
Market Cap ~ $116 million
Power Nickel Inc., a junior exploration company, engages in the acquisition and exploration of mineral properties in Chile and Canada. It explores for nickel, copper, cobalt, lithium, gold, silver, and PEG group metals. The company owns 100% interests in the Zulema property situated in the Atacama mineral belt in Chile’s 3rd region; and Tierra de Oro property located in the Chile’s coastal iron oxide-copper-gold belt. It also holds interests in the Nisk property located in Quebec, Canada; the Golden Ivan property that consists of 13 mineral claims covering an area of approximately 797 hectares situated to the east of Stewart, British Columbia; and the Hornitos, Palo Negro, and Tabaco properties located in Chile.
The stock is up 14% on news it has made an enormous 15.4 metres of over 9.5% copper equivalent discovery.
The stock continues its uptrend with higher lows and higher highs. Positive news to keep the momentum going. The next major resistance comes in at $1.00.
Top 5 Losers
GreenFirst Forest Products (GFP.TO)
Market Cap ~ $78 million
GreenFirst Forest Products Inc. engages in the manufacture and sale of forest products in Canada, and the United States. It operates in two segments, Forest Products and Paper Products. The Forest Products segment manufactures and markets a range of spruce-pine-fir lumber, wood chips, and other by-products for use in residential and multi-family homes, light industrial and commercial facilities, and the home repair and remodel markets.
The stock is down 15% on no news.
The strong downtrend continues. The stock is printing new all time record lows. It is closing below the psychological zone of $0.50. No signs of any selling exhaustion just yet.
West Mining (WEST.CN)
Market Cap ~ $3.2 million
West Mining Corp., together with its subsidiaries, engages in the identification, acquisition, and exploration of mineral properties. The company’s flagship property is the Kena gold and copper project located in southeastern British Columbia.
The stock is down 16% on no news.
I love the reversal pattern here with the stock now pulling back to retest the $0.30 zone. Watch for this zone to hold for the breakout to remain intact.
Max Power Mining (MAXX.CN)
Market Cap ~ $16 million
Max Power Mining Corp., a junior mineral exploration company, engages in the acquisition, exploration, and evaluation of natural resource properties in Canada. It explores for nickel, cobalt, copper, and lithium deposits, as well as platinum group elements. The company holds an option to acquire a 100% interest in Nicobat Property located in Rainy River region, Ontario. It also holds 100% interests in the Spark property located in Nunavik area of Quebec; and the Corvette Lake lithium properties situated in James Bay District, Quebec.
The stock is down 13% on no news.
A reversal pattern has triggered and it looks like the stock will pullback to the $0.275 zone. Watch to see if buyers will step in to defend at this zone.
Conifex Timber (CFF.TO)
Market Cap ~ $19 million
Conifex Timber Inc. engages in the production, marketing, and sale of lumber products in the United States, Canada, and Japan. The company is also involved in the timber harvesting, reforestation, and forest management activities; manufacture, sale, and distribution of dimension lumber; processing logs into lumber and wood chips; and providing value added lumber finishing services. In addition, it operates a 36 megawatt biomass power generation plant in Mackenzie, British Columbia.
The stock is down 12% on no news.
A major gapdown on the stock. Watch for a close back above $0.50 to turn things around. However, shorts may enter here on the retest of the breakdown and gap.
Nexe Innovations (NEXE.V)
Market Cap ~ $32 million
NEXE Innovations Inc. engages in the manufacture and sale of plant-based single-serve coffee pods for use in single-serve coffee machines in Canada.
The stock is down 10% on no news.
The stock is pulling back at a resistance zone. The stock is still in a reversal set up with an inverse head and shoulders pattern. If the stock closes below $0.225, then the stock will nullify this pattern.
