The Canadian junior resource stocks we’ve unearthed have all seen significant share price appreciation over the past 30 days on positive news
SmallCapPower | November 20, 2019: In the short term, stocks prices can move because of changes in expected future revenue, profitability, and valuation generated by news and other events that directly affect a company. A bad-news event, such as an unexpected resignation or expectation of future losses, can cause a stock price to decline. While a good-news event, especially one that has the potential to increase profitability in the future, can be a catalyst to increase share prices. Today we have dug up four Canadian junior resource stocks that have seen their share price climb following favourable news.
*Share price data as at November 18, 2019, data obtained from S&P Capital IQ
Graphite One Inc. (TSXV:GPH) – $0.38
Metals and Mining
Graphite One is a Canada-based junior resource company, which is engaged in the exploration of potential mining properties. The Company’s main property is Graphite Creek near Nome, Alaska. The Graphite Creek Property is located on the Seward Peninsula of Alaska approximately 60 km north of the deep seaport at Nome, Alaska. The Graphite Creek Property is situated approximately 20 km from a seasonal road and approximately 4 km from the port. The Company is also working on developing its Graphite One Project through which its produces Coated Spherical Graphite (CSG) for lithium-ion batteries for the electric vehicle market. On October 23, 2019, Graphite One announced that a major U.S. electric vehicle manufacturer has begun testing its graphite for use in lithium-ion batteries. Since the news hit on October 23, Graphite One’s stock price has rallied +150%.
- Market Cap: $15.4M
- 30-Day Return: +153.3%
- 90-Day Return: +167.9%
- 90-Day Average Trading Volume: 36,170
Callinex Mines Inc. (TSXV:CNX) – $1.18
Metals and Mining
Callinex Mines is a Canada-based junior resource company, exploring for gold, silver, copper, and zinc. The Company is focused on exploring the Flin Flon and Pine Bay properties, both in Manitoba, Canada, to find copper and zinc-rich volcanogenic massive sulfide (VMS) deposits. Callinex’s additional properties include the Sneath Lake Project, the Gossan Gold Project, the Neuron Project, the Herblet Lake Project, the Nash Creek Project, the Coles Creek Project and the Fox River Project. The Pine Bay Project is located approximately 20 kilometers east of Flin Flon, Manitoba, and covers an area of approximately 6,000 hectares. The Flin Flon project is located approximately three kilometers southeast of Flin Flon and covers an area of approximately 2,450 hectares. On November 18, 2019, Callinex announced that it had begun its 2019 drilling campaign in the Flin Flon district. This follows a news release from October 23, 2019, when the Company announced that it started drilling at its Nash Creek project near New Brunswick. Its stock has rallied +125% since it announced its 2019 drilling programs.
- Market Cap: $12.6M
- 30-Day Return: +126.9%
- 90-Day Return: +221.1%
- 90-Day Average Trading Volume: 18,660
Wallbridge Mining Company Limited (TSX:WM) – $0.59
Metals and Mining
Wallbridge Mining is a Canada-based company engaged in the exploration, development, and production of gold, copper, nickel and platinum group metal (PGM) mineral deposits. Wallbridge’s main development assets include the Fenelon Gold Property, located in northwestern Quebec. The area is close to the Sunday Lake Deformation Zone (SDLZ), which hosts the major mines from Detour Gold and Balmoral Resources. The Company also continues partner-funded exploration on its portfolio of nickel, copper, and PGM projects in Sudbury, Ontario, as well as holding an interest in Carube Copper Corp, a junior resource company focused on the exploration and development of copper and gold projects in Jamaica. On October 21, 2019, Wallbridge announced its 2019 drill results for the Tabasco zone at the Fenelon Gold Property. Of note, is drill hole FA-19-086, which returned 27.00 g/t Au over 38.39m in the Tabasco zone at a vertical depth of 500m. The positive results led to rally in the Company’s share price.
- Market Cap: $295.6M
- 30-Day Return: +68.6%
- 90-Day Return: +38.8%
- 90-Day Average Trading Volume: 1,140,370
Balmoral Resources Ltd. (TSX:BAR) – $0.23
Metals and Mining
Balmoral Resources is a junior resource company currently focused on the exploration and development of high-grade gold and base metals assets in major Canadian mining districts. The Company holds interests in each of the Fenelon, N2, and Martiniere Properties. The Fenelon Property is centrally located within the Company’s Detour Trend Project, over 65 kilometers east of the Detour Gold Deposit. The N2 Property is strategically located along the gold-bearing Casa Berardi Deformation Zone immediately east of the former-producing Vezza gold deposit in northern Quebec. The Martiniere Property is centrally located within the Company’s Detour Trend Project, over 45 kilometers east of the Detour Gold Deposit located in northeastern Ontario. BAR also holds an interest in the Northshore property in Ontario along with various surface rights attached to the property, located along the southern margin of the Hemlo-Schreiber greenstone belt. Balmoral announced recently a strategic investment from Eric Sprott, which has led to a +40% rally in the Company’s share price over the past month.
- Market Cap: $38.0M
- 30-Day Return +40.6%
- 90-Day Return: +12.5%
- 90-Day Average Trading Volume: 173,600
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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