Survey of Junior Resource Companies Under Coverage Strong Focus on Exploration and M&A in 2021
Microsoft Corp. (NASDAQ: MSFT) Maintaining HOLD Rating Despite Upbeat Guidance for Q1
Highlights Q4 (quarter ended June 2021) revenue of $46B beat market estimates by 4%, while EPS of $2.17 beat by 13%. Revenue and EPS were 4% and 10% higher than our expectations, respectively. Intelligent Cloud revenue...
Apple Inc.(NASDAQ: AAPL)Remaining Bullish Despite Management’s Warning of Weak Q4
Highlights Q3 (quarter ended June 2021) revenue of $81B beat market estimates by 11%, while EPS of $1.31 beat by 30%. Revenue was inline with our expectations, but EPS was significantly higher due to stronger margins. Shares are down 3% as management warned investors...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Last week, Canadian cannabis stocks outperformed their U.S. peers. Statistics Canada reported record cannabis sales for May of $313M, up 68% YoY. We note that U.S. cannabis stocks had...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research After dropping 2.6% in the week prior to last, global equity indices we track moved up 1.6% last week as global vaccination rates continue to ramp up. Copper and nickel prices surged on a steep...
Amazon’s Job Posting and Record High Inflation in the U.S.
The top performer, Voyager Digital (CSE: VYGR), was up 17% as the company announced record revenue in Q4 (quarter ended June), blowing past our estimate. In addition, last week, Amazon (NASDAQ: AMZN) posted a job opening for a digital currency and blockchain...
THC BioMed Intl Ltd. (CSE: THC / OTC: THCBF / FSE: TFHC) Transitioning to Cannabis 2.0 / Q1-FY2022 Critical
Highlights Generated $1.1M in revenue in Q3-FY2021 (quarter end April 30, 2021), up 24% YoY, and up 8.6% QoQ. 98% of revenue came from dried flower sales. Revenue was significantly below our expectations as the company has yet to start generating meaningful revenue...
Kingman Minerals Ltd. (TSXV: KGS / OTCQB: KGSSF / FSE: 47A1) Preparing a Maiden High-Grade Gold Resource – Initiating Coverage
Highlights Kingman is focused on the Mohave gold project in Arizona, which includes the historically producing Rosebud gold mine. Historical inferred resources of 568 Koz Au (17 g/t), and 2.18 Moz Ag (65.49 g/t), and...
Enertopia Corporation (OTCQB: ENRT) In an Area Conducive for Lithium Consolidation/ Advancing a Green Technology – Initiating Coverage
Highlights Enertopia is advancing its 100% owned Clayton Valley lithium property in Nevada. It is located just 2.1 km from Albemarle Corporation’s (NYSE: ALB) Silver Peak mine - the only lithium brine producer in the U.S. [MM_Member_Decision...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Cannabis stocks across the U.S. and Canada pulled back amid overall weakness in equity markets. U.S. cannabis stocks declined despite the unveiling of a federal cannabis legalization bill. The...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research Global equity indices we track were down 2.4% last week amid a rebound in COVID-19 cases due to the Delta variant. Prices of mainstream metals retreated as well. Zinc prices held ground due to inventory...
FRC Top Pick Getting Acquired by AngloGold
The top performer, Corvus Gold (TSX: KOR), was up 21% on receipt of a non-binding offer from AngloGold Ashanti (NYSE: AU). AU is offering $4 per share, which is 7% higher than our fair value estimate of $3.75.We had initiated coverage on KOR in 2017, when...
TAAT Global Alternatives Inc. (CSE: TAAT / OTCQX: TOBAF / FRA: 2TP)Marketing Dollars Driving Strong Sales Growth
Highlights TAAT generated $691K in revenue in Q2-FY2021 (quarter ended April 2021), up 317% QoQ, beating our expectations. We are raising our 2021 forecast from $2.44M to $2.92M. Revenue increased due to expanded...
Halo Collective Inc. (NEO: HALO / OTCQX: HCANF / GERMANY: A9KN) Enters Canada Through Three Retail Stores in AB
Highlights Yesterday, Halo completed the previously announced acquisition of three operating retail cannabis stores in Alberta, from High Tide (TSXV :HITI), for 13.5M shares, plus $1.8M in promissory notes, for $2.3M in total. HITI will continue to manage the sores....
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Last week, U.S. cannabis stocks outperformed their Canadian counterparts amid positive developments: The state of Missouri posted record revenue from medical cannabis sales in June. A report...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research Global equity indices we track remained relatively flat last week. Nickel prices remain highly volatile relative to other mainstream metals. Valuations of both gold and base metals producers were also...
Shares of Gold Junior Up 50% After Exceptional Drill Results
At the end of May, approximately 25% of Canadians were unwilling or undecided as to whether or not to get vaccinated vs 15% in the U.K., 23% in Italy, 28% in Germany, 36% in the U.S., and 40% in France. We expect these figures to gradually decline as more...
Goldplay Mining Inc. (TSXV: AUC / Frankfurt: 9FY) Brand New Junior With Copper-Gold Projects in Portugal and B.C. – Initiating Coverage
Highlights Goldplay started operating in late 2020, and shares commenced trading on the TSXV on April 21, 2021. The company is set to be the first company to ever conduct a comprehensive surface sampling and detailed...
OMID Holdings Inc. (OTCPK: OMID) Profitable U.S. Based Manufacturer of CBD Products – Initiating Coverage
Highlights OMID Holdings is a U.S. based company specializing in the manufacturing of CBD-based wellness products through white-label services. The company operates a manufacturing facility in Philipsburg, New Jersey, with...
Fiore Cannabis Ltd.(CSE: FIOR / OTCQX: FIORF)Strengthening Balance Sheet; Q1 Revenue up 112% YoY
Highlights Q1 revenue was up 112% YoY to $1M due to strong growth in operations in both Nevada (wholesale) and California (retail store). 2021 revenue growth is expected to come from the expansion of its grow facility in...
E3 Metals Corp. (TSXV: ETMC / OTC: EEMMF) Trading at a 70% Discount to its Peers
Highlights Test results from one of its improved sorbents showed lithium recoveries of 97%, and removal of 99%+ of critical impurities. These results are very promising for application in batteries. E3 and a few other...
Ayurcann Holdings Corp.(CSE: AYUR) Expecting Record Revenue in the Quarter Ended June 2021 – Initiating Coverage
Highlights Ayurcann Holdings is an Ontario based licensed cannabis extraction company that went public in April 2021 through a reverse takeover. The company has a 10,845 sq. ft. facility in Pickering used for co-packing,...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Last week, Canadian cannabis stocks underperformed relative to their U.S. peers due to positive developments for the U.S. medical cannabis sector. South Dakota added eight new conditions for...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research Most of the global equity indices we track remained relatively flat last week. The S&P 500 was the best performer (up 1.8%) amid a stronger than expected jobs report from the U.S. Source: FRC / Various...
Positive Developments for Psychedelics and Medical Cannabis
The S&P 500 was the best performer (up 1.8%) amid a stronger than expected jobs report from the U.S. Prices of mainstream metals (except nickel) remained flat as well. Nickel prices, which have been very volatile in the past few weeks, dropped 2.5% last...
Aurcana Silver Corporation (TSXV: AUN)Commencing Production This Month – Initiating Coverage
Highlights Aurcana is advancing its 100% owned, fully permitted, Revenue-Virginius silver project in Colorado (five-six hours driving distance from Denver) to production this month. Management expects to produce 1.3–1.6...
Voyager Digital Ltd. (CSE: VYGR / OTCQB: VYGVF / FRA: UCD2) $5M to $3.3B in AUM in 18 Months – Initiating Coverage
Highlights Voyager Digital is a crypto brokerage platform primarily targeting retail investors in the U.S. Through a network of 12 unaffiliated crypto exchanges and market makers, VYGR’s value proposition for its customers (investors/traders) is that its platform can...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Last week, cannabis stocks across the U.S. and Canada gained strength. U.S. cannabis stocks outperformed their Canadian counterparts on the back of more favourable news. Rhode Island approved...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research Five of the seven global equity indices we track moved up last week, recouping most all the losses incurred in the prior week due to the U.S. Fed’s signal to move up its timeline for rate hikes. Nickel...
Gold M&A Heating Up
Last week’s pick, ContextLogic (NASDAQ: WISH), went from $12.02 on Monday, to a high of $14.69 on Friday (up 22.21%). Check out our latest pick. Last week’s top five performers table among our Top Picks, includes two technology companies, two gold juniors, and...
Southern Empire Resources Corp. (TSXV: SMP / OTC: SMPEF / Frankfurt: 5RE)Gold Junior Trading at a 80% Discount – Initiating Coverage
Highlights Southern Empire is focused on exploring and developing the Oro Cruz project, located within the Caborca-Mojave gold trend, spanning from Mexico to the southwestern U.S. This trend has produced gold and other...
Inca One Gold Corp. (TSXV: INCA / OTCQB: INCAF / FSE: SU92) Record Production in May
Highlights Q3-FY2021 (quarter ended January 31, 2021) production was down 5% YoY (due to pandemic related restrictions), but up 2% QoQ. Despite lower production, Q3 revenue was flat YoY due to stronger gold prices. Gross...
Cora Gold Limited (AIM: CORA) Near-Term Production Potential in Mali – Initiating Coverage
Highlights Cora Gold holds gold exploration and development projects in Mali and Senegal in West Africa. Its flagship Sanankoro project is in Mali. Mali is among the top five largest gold producers in Africa. Sanonkoro has...
BIGG Digital Assets Inc. (CSE: BIGG/ OTCQX: BBKCF/ WKN: A2PS9W) Transactions up 1,816% YoY in Q1
Highlights Q1 revenue increased 866% YoY to $3.7M, driven by strong transaction volume (up 1,816% YoY). Q1 revenue was 5% higher than management’s guidance. Transaction revenue increased to $1.55M in April (up 2,261% YoY),...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Author: Sid Rajeev Cannabis Industry Performance Last week, Canadian and U.S. cannabis stocks were down 5% and 4%, respectively, amid the overall market weakness post the Fed’s meeting. On a positive note, a new research study, published...
Weekly Mining Commentary
Weekly Mining Commentary Author: Sid Rajeev, Head Of Research Five out of seven global equity indices we track retreated last week after the U.S. Fed moved up its timeline for rate hikes. The Fed is expecting two rate hikes next year. Prices of mainstream metals...
An Opportunity to Buy Gold
Our last week’s pick, AMC Entertainment (NYSE: AMC), went from $51.83 on Monday, to a high of $64.96 on Thursday (up 25%). Five out of seven global equity indices we track retreated last week after the U.S. Fed moved up its timeline for rate hikes. Prices of...
Interra Copper Corp. (CSE: IMCX / OTC: IMIMF)Maiden Drilling on a New Copper-Gold Porphyry in B.C. – Initiating Coverage
Highlights Interra Copper is focused on exploring and developing the copper-gold porphyry Thane project in B.C. Six mineralized areas have been identified in the Thane project, with significant copper grades of up to...
Zimtu Capital Corp. (TSXV: ZC/ Frankfurt: ZCT1) Trading at Just 0.21x Market Value of its Investments – Initiating Coverage
Highlights Zimtu Capital, based in Vancouver, Canada, is focused on creating, investing in, and growing junior resource/technology companies. In addition to providing exposure to a diverse portfolio of early-stage junior...
Gold Springs Resource Corp. (TSX: GRC / OTCQB: GRCAF) – Pursuing a $20M Non-Dilutive Financing and an Aggressive Resource Expansion Drill Program
Highlights Pursuing a $20M rights offering (non-equity) to fund exploration to potentially increase the resource-base of its 100% owned Gold Springs project to 3 Moz. Rights holders will receive 1.0%-1.5% of the net proceeds (for each $1M investment), if GRC is...
Banxa Holdings Inc. (TSXV: BNXA / OTCQX: BNXAF / FSE: AC00) Monthly Transactions up 1,000% YoY in April
Highlights In Q3 (quarter ended March 2021), TTV (total transaction value) increased 93% YoY to $205M. Subsequent to Q3, TTV increased to $110M in April (up 1,000% YoY), and $127M in May (YoY data undisclosed). The company...