Lithium, gold and marijuana-related issuers continued to dominate liquidity on the TSX Venture. The TSX Venture has caught fire, rising in 9 of the past 11 trading days. The world’s junior resource exchange closed up 1.04% to 809.62 Friday on total volume of 82,573,666 shares.
Aside from the majority of gold deals that surged higher, represented by the VanEck Vectors Junior Gold Miners (GDXJ) jumping 1.99% on the day, lithium and marijuana related issuers also moved the dial on the Venture.
ICC International Cannabis (ICC:TSXV) was one of those companies. Its shares closed up 7% to $1.07 per share on over 1.5 million shares traded. Retail investors, many who are totally new to investing in Canada’s small-cap space are buying their first shares of marijuana-related companies.
Power Metals tops stocks in January Stock Challenge
Power Metals Corp. (PWM:TSXV) topped all stocks in January’s Stock Challenge Friday. The stock ripped 22% higher closing one penny below its new 52-week high, which the company hit today.
Power Metals was among the most liquid on the entire exchange, trading some 1.8 million shares Friday. Why? You nailed it, lithium, marijuana or gold. In this case, it was lithium. Power Metals announced Thursday afternoon that it had executed an agreement to acquire one of the largest lithium brine permit portfolios in Alberta, Canada. Below is an excerpt from the press release:
Immediate Scale-Up to a 505,000+ Acre Oilfield Lithium Brine Project Base.
Historic Lithium Sampling up to 135 mg/L.
Significant Lithium Brine Exploration Opportunities in Infrastructure-Rich Region.
Permits Contain Oil Field Wellheads Offering Potential for Well Sampling Programs and Oil Company Partnerships.
Permit Control of the Leduc S, South Formation Water Lithium Target Area.
Click here to read the entire press release.
The move catapulted ‘bauman6’ up the ranks to 36th place overall in January’s Stock Challenge. What makes Pinnacle’s monthly Stock Challenge so difficult is selecting two stocks that go up. Often times, you need more than just one of your picks to take off. If one selection delcines, your chances of winning are almost non-existent.
Power Metals – 1 Year Chart
Member bauman6’s second selection of Anfield Resources was up 60% at one point earlier in this month’s Challenge. Its shares have since fallen back. If Anfield can get its groove back and Power Metals can keep running, long-time member bauman could make a late-month surge.
Hello is sitting with a 85.89% return compared to atlevan’s 85.11%. With just 2 days remaining in January’s Stock Challeng it will surely come down to the final day.
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