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
TriStar Gold (TSG.V)
Market Cap ~ $64 million
TriStar Gold, Inc. engages in the acquisition, exploration, and development of precious metal prospects in the Americas. Its flagship property is its 100% owned the Castelo de Sonhos gold project that covers an area of approximately 17,177 hectares located in Pará State, Brazil.
The stock is up 27% on no news. Yesterday the Company announced the Pará State Environmental Council (COEMA) met on June 11, 2024 in Belem, and has approved the Licença Prévia (Preliminary License or LP) and the Environmental Impact Assessment (EIA) for the Castelo de Sonhos gold project in Brazil.
A very nice breakout was confirmed yesterday and today is seeing very strong momentum. When you zoom out on the chart, there is a major resistance zone at $0.24. The stock is testing this zone today and could see a pullback as profits are being taken.
SRQ Resources (SRQ.V)
Market Cap ~ $7 million
SRQ Resources Inc. engages in the base metal exploration and development business in Canada. The company explores for nickel, copper, and the platinum group elements. Its flagship project is the Lac Brulé project, which consists of 507 contiguous mining claims covering an area of approximately 29,183 ha located in Québec.
The stock is up 25% on no news.
The stock had a huge jump at the end of May and since then, profits have been taken and the stock is pulling back. There is some support at $0.18 which has been held and the stock is looking to make a run from here. Watch for a confirmed daily close above $0.20 for a good chance of further momentum tomorrow.
Noram Lithium Corp (NRM.V)
Market Cap ~ $15 million
Noram Lithium Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. Its flagship property is the Zeus Lithium project consisting of 146 placer claims and 136 lode claims covering an area of approximately 1,113 hectares located in Clayton Valley, Nevada.
The stock is up 21% on no news. Yesterday it announced that it had completed an updated Mineral Resource Estimate for its 100% owned Zeus Lithium Project.
The stock seems to have found support at $0.10, and is gapping up on the big news. The market likes the mineral resource estimate. The current lower high comes in at $0.15. Watch for a close above this level to confirm a new trend.
Generation Uranium (GEN.V)
Market Cap ~ $7.2 million
Generation Uranium Inc. engages in the exploration and development of mineral properties. It has an option agreement to acquire a 60% interest in the Arlington property that comprises five mineral claims located in the Arrow Boundary District of south-central British Columbia, Canada; and holds a 100% interest in the YATH Uranium Property comprises five mineral claims that totaling approximately 8,438 hectares located in the territory of Nunavut.
The stock is up 20% on news that it has signed a consulting agreement with APEX Geoscience Ltd. to provide geological consulting services with respect to the Yath Uranium Project located in Nunavut, Canada.
Not much price action to work with but the levels are clear and simple. We have resistance at $0.295 and support at $0.25. The stock is making a run at resistance. Watch for a breakout to be confirmed into new all time highs.
Sernova Corp (SVA.TO)
Market Cap ~ $106 million
Sernova Corp. operates as a clinical-stage regenerative medicine therapeutics company in Canada. The company focuses on the development and commercialization of regenerative medicine therapeutics, including its proprietary Cell Pouch and associated technologies consisting of therapeutic cells and local cellular immune protection. Its Cell Pouch is a novel implantable and scalable medical device which forms a natural environment in the body for the housing and long-term survival and function of therapeutic cells, which release necessary proteins or factors missing from the body to treat chronic diseases as an alternative to daily administration of drugs.
The stock is up 18% on news that it is not proceeding with its public offering of units and is withdrawing its preliminary short form prospectus filed on June 6, 2024.
Shareholders like the news that the offering has been canned. The stock is now making a run to fill the gap. A close above $0.36 fills the gap and sets us up for a break above $0.40.
Top 5 Losers
Showcase Minerals (SHOW.CN)
Market Cap ~ $12 million
Showcase Minerals Inc. engages in the identification, acquisition, exploration, and development of mineral projects. The company primarily explores for gold and vanadium deposits. It owns interests in the Dixie Flats which consist of 180 unpatented lode claims covering approximately 1311 hectares; the North Star which consist of 56 unpatented lode claims covering 360 hectares; and Woodruff claims which consist of 18 unpatented lode claims covering approximately 147 hectares located in Elko County, Nevada.
The stock is down 27% on no news.
An engulfing candle was printed a few days ago signaling a bottom at $0.40. The rally hit resistance at $0.80, and the sellers are jumping back in. Not much to say on this one given the recent dump on this one.
Conifex Timber (CFF.TO)
Market Cap ~ $15 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 20% on news it will appeal the ruling of the BC Supreme Court upholding a government decision that prevented Conifex from diversifying its business operations and helping stabilize the interior BC forest sector.
A breakdown of $0.50 and the retest is seeing the stock break below recent lows. The next support comes in at $0.20.
C3 Metals (CCCM.V)
Market Cap ~ $15 million
C3 Metals Inc., a junior minerals exploration company, engages in the identification, acquisition, exploration, and evaluation of mineral properties in Peru, Jamaica, and Canada. It explores for copper and gold deposits.
The stock is down 16% on no news.
A breakdown into lows and the stock is printing record candle closes lower. $0.25 is a major psychological level, so this could be where some support is formed.
KWESST Micro Systems (KWE.V)
Market Cap ~ $5.7 million
KWESST Micro Systems Inc. engages in the development and commercialization of tactical systems and ammunitions for military, public safety agencies, and personal defense markets. The company non-lethal products, including PARA OPS devices and ARWEN products.
The stock is down 15% on news it has announced the pricing of its best efforts public offering of 2,900,000 common shares at a public offering price of US$0.58 per share, for gross proceeds of approximately US$1,682,000, before deducting placement agent fees and offering expenses.
The stock is now testing the major gap. A gap fill would be bearish and would nullify the uptrend. But still has work to do to fill the gap. Currently, the gap is being held as support. Watch for a nice hammer or large bodied green candle.
Cardiol Therapeutics (CRDL.TO)
Market Cap ~ $234 million
Cardiol Therapeutics Inc., a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product candidate is CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.
The stock is down 16% on news of positive topline data from its Phase II MAvERIC-Pilot Study Investigating CardiolRx(TM) for Recurrent Pericarditis.
A strong uptrend for the stock and today’s price action is a major pullback. The higher low comes in at $3.20, where the stock is finding buyers today. A close below would lead to a further decline and the ending of this uptrend.
