Survey of Junior Resource Companies Under Coverage Strong Focus on Exploration and M&A in 2021
World Copper Ltd. (TSXV: WCU / OTCQB: WCUFF) – Benefit from Inflation, EVs and Global Supply Chain Woes – Initiating Coverage
Highlights This company holds two copper projects in Chile, and is in the process of acquiring its third copper project (Arizona). ts flagship Escalones porphyry-skarn copper-gold project (Chile) holds a large copper oxide...
Denarius Silver Corp. (TSXV: DSLV) – A Large Gold-Copper Project Advanced by The Founders of a Mid-Tier Gold Producer – Initiating Coverage
Highlights This company owns the Lomero-Poyatos polymetallic project (with historic resource) in the prolific Iberian Pyrite Belt (IPB) in Spain. Spain covers 50% of the IPB, one of the world’s largest copper-zinc-iron massive sulfide belts, and a significant source...
Halo Collective Inc. (NEO: HALO / OTCQX: HCANF / GERMANY: A9KN) – Entering the Growing Functional Beverage Market
Highlights Q3 revenue increased 28% YoY, but declined 4% QoQ, and fell well below our expectations because of lower than expected production, increased production of lower-priced products, and a sector-wide decline in prices amid excess supply/inventory and rising...
Our Latest Top Pick is Up 61%
Global equity markets were up 1.1% last week (down 1.7% in the prior week). China’s GDP grew at 4% in Q4-2021 vs 6% in Q4-2020. Valuations of gold producers were up 1% (previously down 5%) last week; base metal producers were up 6% (up 2%). As we...
Kiaro Holdings Corp. (TSXV: KO) – A Strong M&A Target
Highlights Q3-2022 (quarter ended October 2021) revenue was up 44% YoY, driven by store expansion and same-store sales growth. Revenue was 4% below our forecast as we were expecting the 17th store to open sooner. This...
Cora Gold Limited (AIM: CORA) – Expands Resource / Aiming to Commence Production in 2023
Highlights Resources for the Sanankoro gold project in Mali increased 206%, to 541 Koz indicated, and 269 Koz inferred. Resource expansion potential exists, as the current resource covers less than 25% of an identified...
Prepare for Additional Corrections in Equity Valuations
Global equity markets were down 1.7% (up 1.3% in the prior week), while U.S. yields climbed last week, amid strong jobs data, suggesting that the U.S. Fed is highly likely to start raising rates in March. Valuations of gold producers were down 5% last...
Verde Agritech Plc TSX: NPK / OTC: AMHPF – Record Results from Global Fertilizer Crises – Initiating Coverage
Highlights This company produces potassium fertilizers. The company’s operations are in Brazil, which imports almost 90% of its potassium fertilizer consumption. We believe this company’s products are cheaper and are more environment-friendly vs conventional potassium...
Introducing Our 2022 Forecasts
Global equity markets were up 1.3% last week as concerns about the Omicron variant subsided. Valuations of gold producers were up 3% in the past two weeks; base metal producers were up 6%. As mentioned in our previous reports, Bitcoin prices have...
KWESST Micro Systems Inc. (TSXV: KWE / OTCQB: KWEMF) – Preparing for the Highly Anticipated Launch in January
Highlights Preparing to launch its flagship Low Energy Cartridge (LEC) firing system on January 18, 2022, at The SHOT Show in Las Vegas. This company conducted a live demonstration in November. We are expecting the company...
Zimtu Capital Corp. (TSXV: ZC / Frankfurt: ZCT1) – A Platform to Obtain Exposure to Pre-IPO Opportunities in Mining and Technology
Highlights This company is an incubator focused on creating and investing in micro/small-cap companies. Value can be created in the public company building process. The company offers investors an opportunity to get exposed to this value creation process....
Eat Well Investment Group Inc. (CSE: EWG/ OTC: EWGFF/ FSE: 6BC0) – A High-Profile Team Building a Diverse Plant-Based Foods Company – Initiating Coverage
Highlights This company is building a portfolio of businesses in the agri-food, food technology, and plant-based foods sectors. Strong management team: Marc Aneed (CEO) has 20 years experience in CPGs, including iconic...
The Diabetes App Inc. – A Pre-IPO Opportunity Going Public in Six Months
Highlights Since our initiating report in May 2021, this company has announced plans to go public by listing its shares on the Canadian Securities Exchange (CSE), with cross-listings on the U.S. OTC and the Frankfurt Exchange by mid-2022. This company has entered into...
ION Energy Ltd. (TSXV: ION / FRA: 5YB / OTC: IONGF) – Rio Tinto’s Latest Deal Signals That Majors Are Moving Into Electric Vehicle Metals
Highlights Initial results of a shallow drill program, consisting of 222 drill holes on its Baavhai Uul lithium brine project, returned highly encouraging values, including high-grades such as 1,502 ppm. For comparison, sampling conducted in 2016 had returned an...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Cannabis Industry Performance Last week, both Canadian and U.S. cannabis stocks fell. Key sector developments below (positive): ➢ Pfizer entered the cannabis sector with a US$6.7B acquisition of Arena Pharmaceuticals (NASDAQ: ARNA), a San...
Weekly Mining Commentary
Weekly Mining Commentary Global equity markets were down 2.3% last week (up 1.5% in the prior week) amid several negative events – a) rising new cases of Omicron in Europe, and the Delta variant in the U.S., b) governments implementing new measures/restrictions, c)...
Gold and Silver Promising / Check Out Our Weekly Prediction for Cryptos
Global equity markets were down 2.3% last week (up 1.5% in the prior week) amid several negative events – a) rising new cases of Omicron in Europe, and the Delta variant in the U.S. Valuations of gold producers were up 3% WoW; base metal producers were...
Braveheart Resources Inc. (TSXV: BHT / OTCQB: RIINF) – Preparing to Commence Copper Production
Highlights An updated resource estimate on the Bull River mine project increased indicated resources by 23%, and inferred resources by 239%, potentially increasing the project’s mine-life. Copper Equivalent (CuEq) grades...
Three Point Capital Corp. – Well Positioned to Benefit from Rising Demand for Alternative Lending
Highlights Despite the pandemic, mortgage receivables grew 17% YTD, to $118M. This company maintains a low-risk profile. At the end of Q3-2021, 95% of the portfolio were first mortgages, and 95% was secured by...
Noram Lithium Corp. (TSXV: NRM / OTCQB: NRVTF) – M&A Probability Has Increased for This Lithium Junior
Highlights A Preliminary Economic Assessment (PEA) on the Zeus lithium project returned robust economics with an AT-NPV8% of US$1.30B, and a high AT-IRR of 31%. Battery-grade lithium prices are up 50% in the past three...
THC BioMed Intl Ltd. (CSE: THC / OTC: THCBF / FSE: TFHC) – Ramping Up Sales of 2.0 Products / Trading at a 43% Discount
Highlights Generated $1.14M in revenue in Q1-FY2022 (quarter ended October 31, 2021), up 83% YoY, and 11% QoQ, but missed expectations as we were expecting stronger revenues from cannabis 2.0 products. As a result of new...
SPC Nickel Corp. (TSXV: SPC) -Dundee Backed Battery Metal Explorer Trading Close to Cash Value – Initiating Coverage
Highlights SPC Nickel is exploring for class 1 nickel projects in the Sudbury mining camp in Ontario, the world’s second largest nickel mining camp. Class 1 nickel is used in lithium-ion batteries of electric vehicles. ...
An Oversold Silver Producer
Global equity markets were up 1.5% last week (down 0.3% in the prior week) amid preliminary indications that Omicron is not as dangerous as the Delta variant. Researchers have stated that booster shots would improve immunity against Omicron. Valuations...
Cartier Resources Inc. (TSXV: ECR) – Agnico Eagle Backed Junior Trading at a 67% Discount – Re-Initiating Coverage
Highlights Cartier owns seven gold projects in the prolific Abitibi mining district in Quebec. Agnico Eagle (NYSE: AEM) owns 16% of ECR, and is the largest shareholder. Two juniors in the region, Monarch Gold and QMX Gold,...
GlobeX Data Ltd. (CSE: SWIS / OTCQB: SWISF / FRA: GDT) Aiming to Capture a Small Share of Gmail and WhatsApp – Initiating Coverage
Highlights GlobeX offers cybersecurity and internet privacy solutions to consumers and businesses under the brand Sekur®. Sekur is a paid-email/instant messaging service provider aiming to capture a small share of traditional and free services such as Gmail, Yahoo!...
Frontenac Mortgage Investment Corp. – Yield Improves / Reduces Exposure to Impaired Mortgages
Highlights At the end of Q3-2021, mortgage receivables grew 9% YTD, to $175M. The MIC had $20M in undeployed capital. Management expects to ramp up lending in Q4, and deploy most of the unused capital in the quarter. ...
Transition Metals Corp. (TSXV: XTM) Assets on Sale; Price: FREE; Re-Initiating Coverage
Highlights Transition Metals is a Prospect Generator (“PG”) with a multi-commodity portfolio of early and advanced stage exploration properties in Canada. A PG’s business model is to acquire early stage projects at reasonable valuations, and advance those projects by...
South Star Battery Metals Corp. (TSXV: STS / OTCQB: STSBF) – Increased Chances of Obtaining Project Financing
Highlights STS has been one of the best performing juniors under our coverage; shares are up 478% YoY. Recent test results indicated that graphite from STS’ Santa Cruz project can be a viable anode material for lithium-ion...
Weekly Cannabis Commentary
Weekly Cannabis Commentary Cannabis Industry Performance Last week, both U.S. and Canadian cannabis stocks fell, although Canadian companies had a steeper fall. Key sector developments below (all positive): According to BDSA, cannabis sales were up MoM in Arizona,...
Canadian Banks (TSX: RY / TD / BNS / BMO / CM) BNS Has the Highest Upside Potential of the Major Canadian Banks
Highlights The Big Five reported double-digit earnings growth in FY2021 (ended October 2021), mainly due to extraordinarily low provisions for credit losses, beating our estimates by 2% on average. BNS, TD, and BMO beat...
Canadian Banks (TSX: RY / TD / BNS / BMO / CM) BNS Has the Highest Upside Potential of the Major Canadian Banks
Highlights The Big Five reported double-digit earnings growth in FY2021 (ended October 2021), mainly due to extraordinarily low provisions for credit losses, beating our estimates by 2% on average. BNS, TD, and BMO beat...
Canadian Banks (TSX: RY / TD / BNS / BMO / CM) BNS Has the Highest Upside Potential of the Major Canadian Banks
Highlights The Big Five reported double-digit earnings growth in FY2021 (ended October 2021), mainly due to extraordinarily low provisions for credit losses, beating our estimates by 2% on average. BNS, TD, and BMO beat...
Canadian Banks (TSX: RY / TD / BNS / BMO / CM) BNS Has the Highest Upside Potential of the Major Canadian Banks
Highlights The Big Five reported double-digit earnings growth in FY2021 (ended October 2021), mainly due to extraordinarily low provisions for credit losses, beating our estimates by 2% on average. BNS, TD, and BMO beat...
Canadian Banks (TSX: RY / TD / BNS / BMO / CM) BNS Has the Highest Upside Potential of the Major Canadian Banks
Highlights The Big Five reported double-digit earnings growth in FY2021 (ended October 2021), mainly due to extraordinarily low provisions for credit losses, beating our estimates by 2% on average. BNS, TD, and BMO beat...
Weekly Mining Commentary
Weekly Mining Commentary Global equity markets were down 0.3% last week (down 2.5% in the prior week) amid uncertainties from the emergence of Omicron and the U.S. Fed’s hawkish remarks last week. Although Omicron has now spread to 47 countries globally, preliminary...
Hawkish Fed and Omicron Vs Inflation
Global equity markets were down 0.3% last week (down 2.5% in the prior week) amid uncertainties from the emergence of Omicron and the U.S. Fed’s hawkish remarks last week. Although Omicron has now spread to 47 countries globally, preliminary indications suggest...
BIGG Digital Assets Inc. (CSE: BIGG/ OTCQX: BBKCF/ WKN: A2PS9W) Surpasses 100,000 Users / Expecting a Stronger Q4
Highlights In Q3, BIGG reported $2.62M in revenue, up 308% YoY, but down 42% QoQ, missing our expectations, amid a decline in global crypto trading volume due to weaker crypto prices. For comparison, Coinbase Global (NASDAQ: COIN) – operator of the largest crypto...
Silver X Mining Corp. (TSXV: AGX / OTCQB: WRPSF / FSE: WPZ) Advancing to Commercial Production – Initiating Coverage
Highlights Silver X is advancing their flagship Neuva Recuperada silver-lead-zinc mine (Peru) to commercial production in Q1-2022. The company (formerly named Latitude Silver) went public through a reverse takeover in June 2021. Management’s goal is to produce 5 Moz...
Builders Capital Mortgage Corp. (TSXV: BCF)-Ramps Up Lending / Raising EPS Forecast
Highlights Mortgages advanced increased 99% YoY in Q1. EPS was up 16% due to lower loan loss provisions. We are maintaining our 2021 revenue estimate, but raising our 2021 EPS forecast by 13% due to lower loan loss provisions. [MM_Member_Decision...
Ayurcann Holdings Corp.(CSE: AYUR / OTCQB: CDCLF / FSE: 3ZQ0) – Expecting a Stronger Q2 Despite Lower Product Pricing
Highlights In Q1-FY2022 (quarter ended September 30, 2021), AYUR reported $1.9M in revenue, up 137% YoY, but down 30% QoQ, missing our expectations. We were expecting stronger bulk oil sales, which fell 46% QoQ, due to a sector-wide decline in product pricing amid...