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
Sun Peak Metals (PEAK.V)
Market Cap ~ $37 million
Sun Peak Metals Corp., a junior mining company, engages in the acquisition, exploration, and development of resource properties for the mining of precious and base metals in Ethiopia. It explores for gold and copper deposits. The company holds interests in the Shire project that comprises exploration licenses, including Nefasit, Adi Dairo, Terer, and Meli located in northern Ethiopia.
The stock is up 32% on news the Company is prepared to resume exploration activities on the Shire Project, Ethiopia.
The stock has confirmed a double bottom reversal pattern with a close above $0.30. Resistance is coming in at the $0.50 zone and we are seeing some profit being taken there with the long wick printed thus far.
Fokus Mining (FKM.V)
Market Cap ~ $8 million
Fokus Mining Corporation, a mining exploration company, acquires and explores for mining properties in Canada. The company primarily explores for gold, rare earth elements, and rare metals. It owns interest in the Galloway property located in Dasserat Township, Québec.
The stock is up 30% on news it intersected gold grading 51.13 g/t Au over 5 metres on the Moriss showing, located in the western part of the Galloway project.
The stock is testing a resistance zone of $0.08 after a strong gap up. Bulls should watch for a close above this level for further momentum.
GSP Resource (GSPR.V)
Market Cap ~ $3.5 million
GSP Resource Corp. engages in the exploration of mineral properties in Canada. It primarily explores for copper, gold, silver, molybdenum, and palladium deposits. The company holds an 100% interest in the Alwin project located in Logan Lake, British Columbia; and the Olivine Mountain project located in the Interior Plateau area of South-Central British Columbia.
The stock is up 26% on news of assay results of the recently completed surface diamond drill program at the Alwin Mine project. All drill holes intersected Copper-Gold-Silver mineralization at shallow depths, with hole AM23-01 reporting some of the highest grades of copper and precious metals drilled at Alwin in the project’s history.
The stock is range bound and today’s candle could confirm a breakout. The stock must close above $0.13 in order to confirm a breakout.
Temas Resources (TMAS.CN)
Market Cap ~ $3.9 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 stock is up 18% on news of positive results of an Independent Technical Report and Preliminary Economic Assessment for the wholly-owned La Blache Ti-V-Fe Project located in the Cote Nord region of Quebec.
I highlighted this range setup on Top Movers a few days ago. A major market structure shift. The uptrend remains intact as long as the price remains above $0.25.
Cielo Waste Solutions (CMC.V)
Market Cap ~ $26 million
Cielo Waste Solutions Corp. operates as a waste-to-fuel environmental technology company in Canada. It converts and transforms waste feedstocks, including organic material and wood derivative waste into fuel, such as diesel, naphtha, and kerosene.
The stock is up 24% on no news.
The stock is bouncing after printing record lows. Resistance comes in at $0.375. If the stock closes above this level, it can begin to show strong signs that the bottom is in and a reversal is beginning.
Top 5 Losers
PlasCred Circular Innovations (PLAS.CN)
Market Cap ~ $29 million
PlasCred Circular Innovations Inc. engages in the recycling of plastic. It operates PlasCred process and PlasCred Primus.
The stock is down 12% on no news.
This looks bearish. The stock is breaking below $0.50 and a close confirmation below would trigger a major drop. The gap has also been filled increasing the bearishness.
Pampa Metals (PM.CN)
Market Cap ~ $11 million
Pampa Metals Corporation, a mineral exploration company, engages in the acquisition and exploration of base and precious metals projects in Chile. It owns an area of 47,400-hectare portfolio of seven projects for copper, molybdenum, and gold deposits located in Chile.
The stock is down 9% on no news. Yesterday, the Company announced that drilling to test for lateral and depth extensions below previous high grade porphyry copper-gold intersections at the Piuquenes Cu-Au porphyry project has successfully intersected wide intervals of both secondary and primary mineralization.
The stock could be ready to form a first higher low in a new uptrend but requires a close above $0.22. We do not have that just yet.
Oncolytics Biotech (ONC.TO)
Market Cap ~ $93 million
Oncolytics Biotech Inc., a development-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.
The stock is down 9% on no news.
The stock is breaking major support and the next zone of support comes in at $1.00. A close back above $1.60 would turn things around.
Sigma Lithium (SGML.V)
Market Cap ~ $1.91 billion
Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil. It serves electric vehicle industries worldwide.
The stock is down 9% on no news.
The breakdown continues and the stock is tumbling. A lot of lithium stocks are doing the same. The next support level is being tested right now.
Cerrado Gold (CERT.V)
Market Cap ~ $30 million
Cerrado Gold Inc. operates as a gold mining and exploration company in South America. The company primarily explores for gold and silver deposits. It owns 100% interests in the Minera Don Nicolas project covering an area of approximately 333,400 hectares located in Santa Cruz province, Argentina; Monte Do Carmo gold project that consists of 21 exploration permits covering an area of 82,541 hectares located in Tocantins, Brazil; and Minera Mariana, including the Las Calandrias and Los Cisnes projects located in Argentina.
The stock is down 9% on no news.
This is like catching a falling knife. The stock continues to tumble and print new all time record lows. Wait for basing to suggest potential selling exhaustion.
