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
American Creek Resources (AMK.V)
Market Cap ~ $92 million
American Creek Resources Ltd. engages in the exploration, and development of mineral properties in Canada. It primarily explores for gold and silver deposits. The company flagship property holds 20% interest in the Treaty Creek project located in the northeast of Stewart, British Columbia.
The stock is up 66% on news it has entered into a non-binding and arm’s length letter of intent dated June 5, 2024 with Cunningham Mining Ltd. to engage in due diligence and negotiations regarding the terms of a proposed transaction whereby Cunningham, or a subsidiary of Cunningham, would acquire all of the issued and outstanding securities of the Company. Through this proposed transaction, Cunningham would acquire control of the Company’s 20% fully carried interest in the Treaty Creek Property which has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ at a price of $0.43 Cdn per Common Share.
The stock was ranging around support and has now popped on the big news. Now it is up to the special committee to finalize the proposed transaction.
DEFI Technologies (DEFI.NE)
Market Cap ~ $548 million
DeFi Technologies Inc., a technology company, develops and lists exchange traded products in Canada, Bermuda, and the Cayman Islands. The company provides asset management services, such as 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 16% on no news. Yesterday, the Company announced a normal course issuer bid.
The uptrend continues after breaking out above the $0.70 range. $2.00 is the next major resistance zone and target.
Oceanic Iron Ore (FEO.V)
Market Cap ~ $10 million
Oceanic Iron Ore Corp., an exploration stage company, engages in the acquisition and exploration of iron ore properties in Québec, Canada. It holds a 100% interest in the Ungava Bay iron property comprising three project areas, including Hopes Advance, Morgan Lake, and Roberts Lake with 844 claim cells covering an area of approximately 35,264 hectares of iron formation located in Nunavik, Quebec.
The stock is up 35% on no news.
The stock is ranging and is seeing the breakout. A daily close confirmation above $0.10 will be big. Yesterday’s candle attempted to but failed to do so. This is why close confirmations are important.
LQWD Technologies (LQWD.V)
Market Cap ~ $13 million
LQWD Technologies Corp., a technology applications company, focuses on lightning network products in Canada. The company operates coincurve.com and buybitcoincanada.com, a virtual currency platform. It also provides infrastructure to facilitate payments under the Lightning Network name. In addition, the company focuses and develops various web-based platforms.
The stock is up 37% on no news.
The breakout above $0.60 saw a pullback and retest, and the stock is now breaking out above the current flag pattern. It looks bullish. Watch for a confirmed close above $1.10 to trigger the break.
GoviEx Uranium (GXU.V)
Market Cap ~ $85 million
GoviEx Uranium Inc., a mineral resources company, engages in the acquisition, exploration, and development of uranium properties in Africa. The company’s principal asset is the Madaouela project which holds 80% interest located in north-central Niger. It also owns 100% interest in the Muntanga project that consists of 3 mining licenses situated to the south of Lusaka, Zambia; and the Falea project, which consists of three exploration licenses located in Mali.
The stock is up 16% on news that it has received its radiological certificate for the Madaouela uranium project from the Nigerien Government. The radiological certificate is a regulatory requirement prior to starting mining operations and confirms the completion of radiological baseline studies.
The stock is attempting to fill in the gap at $0.12. We could be setting up here for a higher low backed by today’s news. Watch for a close above $0.12 to trigger a new uptrend.
Top 5 Losers
MAX Resource Corp (MAX.V)
Market Cap ~ $18 million
Max Resource Corp. engages in the acquisition and exploration of mineral properties in South America and Canada. The company explores for silver and copper deposits. It holds 100% interest in the Cesar Copper-Silver project which consist of 20 mining concessions covering approximately an area of 188 square kilometers located in the northeastern Colombia.
The stock is down 33% on no news. The stock was halted for trading earlier today.
The stock is gapping down after the trade resumption. Generally what happens. Major support now comes in at $0.085.
Davids Tea (DTEA.V)
Market Cap ~ $3.8 million
DAVIDsTEA Inc. operates as a tea retailer in Canada and the United States. It offers loose-leaf teas, pre-packaged teas, tea sachets, and tea-related gifts; tea accessories; and food and beverages. The company also provides its products through e-commerce platform, davidstea.com; the Amazon marketplace, its wholesale customers; and company owned storefronts.
The stock is down 20% on no news.
A strong downtrend with new all time record lows being printed. No signs of selling pressure exhaustion just yet. Potential buyers should watch for a range or some strong single candlestick like an engulfing candle or a hammer.
Rock Tech Lithium (RCK.V)
Market Cap ~ $169 million
Rock Tech Lithium Inc. engages in the exploration and development of lithium properties. The company focuses on developing and optimizing battery grade lithium hydroxide monohydrate. It holds a 100% interest in the Georgia Lake lithium project located in the Thunder Bay Mining District of Ontario.
The stock is down 16% on no news.
Just a pullback currently after breaking out above the $1.40 zone. A potential retest of the breakout zone is possible.
Pulsar Helium (PLSR.V)
Market Cap ~ $89 million
Pulsar Helium Inc. engages in the acquisition, exploration, and development of helium properties in the United States and Greenland. Its flagship project is the Topaz Project covering an area of 3,132 acres and located in Lake County, Minnesota.
The stock is down 11% on no news. Yesterday, the Company announced the safe and timely completion of logging, completion, and flow testing activities at the Jetstream #1 appraisal well* at its flagship Topaz helium project.
A major range is being broken. A close below $1.00 was the starting sign, and today’s candle close could close below the lows. The next support comes in at $0.50.
Sernova Corp (SVA.TO)
Market Cap ~ $97 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 down 11% on news of marketed public offering of units for minimum gross proceeds of $6,500,000 and up to maximum gross proceeds of $10,000,000. Each Unit will be offered at a price of $0.33 per Unit.
The stock appeared to have hammered out a bottom with the large green engulfing candle printed a few days ago. Now, the stock is gapping down to reflect the offering price. Watch for support to hold for possible basing.
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