The Canadian resource juniors we’ve dug up have gained, on average, 48% over the past month on greater-than-normal volume
SmallCapPower | November 22, 2019: With the recent volatility in global markets, fueled by U.S./China trade tensions, Brexit talks, and with the Federal Reserve started providing liquidity to the repo market, junior resource stocks have seen some positive price momentum. Today we have spotted four Canadian resource juniors that have seen at least 20% or more price appreciation over the past month, on higher-than-average volume. Price and volume momentum indicate bullishness, as increased share prices on higher volume shows heightened investor interest in a stock.
*Share price data as at November 21, 2019, data obtained from S&P Capital IQ
Canada Cobalt Works Inc. (TSXV:CCW) – $0.41
Battery Metals
Canada Cobalt Works is drilling three prospective properties in Ontario for cobalt: the Castle Mine, Violet Mine, and Beaver Mine. Each property is located in northern Ontario’s Cobalt camp near the town of Cobalt, Ontario, Canada’s most prolific cobalt district. The Company has a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations. Canada Cobalt Works is strategically positioned to become a vertically-integrated North American leader in cobalt from extraction to recovery.
- Market Cap: $36.0M
- 30-Day Return: +22.1%
- 90-Day Return: +45.6%
- 30-Day Average Trading Volume: 264,270
- 90-Day Average Trading Volume: 195,660
Minsud Resources Corp. (TSXV:MSR) – $0.11
Metals and Mining
Minsud Resources a junior resource company primarily exploring and developing projects in Argentina. Its principal exploration project is the Chita Valley project consisting of over three contiguous properties, including the Chita, Brechas Vacas, and Minas de Pinto mineral concessions (an area over 8,350 hectares), and approximately four additional claims adjacent to such properties. The Company controls total property claims on an area of over 17,400 hectares for the project. It also owns mining rights at the La Rosita (over 9,970 hectares) and San Antonio (over 7,790 hectares) gold and silver prospects at the Deseado Massif-Santa Cruz Province, Republica Argentina. On November 4, 2019, Minsud announced an earn-in agreement with South32 Aluminum to explore the Chita Valley Project. Under the earn-agreement, South32 will provide up to C$14M upon achieving certain milestones with an initial tranche of C$3.5M available by December 31, 2020.
- Market Cap: $16.0M
- 30-Day Return: +90.9%
- 90-Day Return: +75.0%
- 30-Day Average Trading Volume: 16,700
- 90-Day Average Trading Volume: 14,460
MegumaGold Corp. (CSE:NSAU) – $0.14
Gold
Megumagold is a Canada-based junior gold exploration company. Megumagold Corp focuses on precious metals properties/projects. The Company is focused on value-oriented exploration within the emerging gold camp of the Meguma formation in Nova Scotia, Canada. Megumagold Corp’s projects include the Nova Scotia Gold project and the Yukon Gold project. Megumagold Corp’s Yukon Gold project consists of the Tay-LP property, which comprises approximately 400 claims covering about 8,000 hectares of gold prospects on an approximately 20 kilometers long by approximately four-kilometer-wide belt.
- Market Cap: $13.0M
- 30-Day Return: +50.0%
- 90-Day Return: +80.0%
- 30-Day Average Trading Volume: 752,800
- 90-Day Average Trading Volume: 442,200
Critical Elements Lithium Corporation (TSXV:CRE) – $0.58
Lithium and Rare Earths
Critical Elements Lithium is a junior mining company in advance-stage exploration. The Company’s flagship project is the Rose Lithium-Tantalum project located in James-Bay, Quebec, with a good geographic location, on-site access to infrastructures such as powerline, roads, airport, railway access and camp. Its other properties include the Amiral property, Arques property, Bourier property, Caumont property, Dumulon property, Duval property, Lemare property, Nisk property, Valiquette Property and British Columbia Rare Earth properties. CRE conducted a feasibly study on its flagship Rose Lithium-Tantalum Project in October 2017, with the following highlights: average annual production of 186K tonnes chemical-grade lithium, 50K tonnes technical-grade lithium with an expected mine life of 17 years.
- Market Cap: $92.1M
- 30-Day Return: +30.2%
- 90-Day Return: +62.3%
- 30-Day Average Trading Volume: 126,900
- 90-Day Average Trading Volume: 114,180
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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