S&P/TSX Venture Composite Weekly: Madalena Energy Inc., Patient Home Monitoring Corp, Convalo Health International Inc.

James West
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S&P/TSX Venture Composite Index (INDEXTSI:JX)- Weekly Most Active Stocks for week ending January 29, 2016

Company Symbol Volume Close Net Change

Madalena Energy Inc

CVE:MVN 16,524,963 0.285 +0.02

Patient Home Monitoring

CVE:PHM 14,469,837 0.51 -0.08

Convalo Health Intl Corp

CVE:CXV 7,111,765 0.26 -0.02

Nemaska Lithium Inc

CVE:NMX 4,616,364 0.37 -0.03

Pivot Technology Solutions

CVE:PTG 4,180,700 0.51 -0.02

NexGen Energy Ltd

CVE:NXE 3,125,715 0.79 +0.03

Integra Gold Corp

CVE:ICG 2,665,898 0.33 +0.02

First Mining Finance Corp

CVE:FF 2,583,062 0.37 -0.01

ProntoForms Corp

CVE:PFM 2,228,150 0.32 nil

Leucrotta Exploration Inc

CVE:LXE 1,896,230 0.95 +0.14

The S&P TSX Venture Composite Index, like pretty much every other world index last week, was suddenly lifted off its knees by the eyebrow-raising move by the Bank of Japan, who now will charge 0.01 percent for the service of using depositors money to make its own money. Not that investors in any of the companies listed above are likely to complain. The Venture index managed to tack on 7 points on Friday, giving it a net gain of  15.44, or 3.19 percent – its biggest weekly gain in 2016 (actually its first weekly gain in months).

Topping the trading titans of the week was Madalena Energy Inc, who managed to tack on 2 cents to its weekly price, closing up 7.5 percent on the week. The company did not release news and so the lift is likely due to the rising tide of a somewhat rallying oil price lifting all boats.

Sister companies Patient Home Monitoring and Convalo Health International Inc were present on the list of weekly volume leaders as they are every week, with PHM adding a couple of pennies and Convalo Health closing out the week down two pennies. We have two interviews with Michael Dalsin, company founder of both deals, this week, focused on Convalo and Inspira.

Nemaska Lithium took on the chin a little bit shedding three cents in price for a weekly performance down 7.5 percent. The company has not issued any news since the 8th of January, so its relatively rare appearance has no apparent explanation. We’ll get an interview with management this week to find our what’s going on.

NexGen Energy Ltd. continues to trade heavily in terms of weekly volume leaders as its 100%-owned Rook 1 project in the Athabasca Basin in Saskatchewan continues to yield fantastic drill results, having just returned its best assay to date: 78 metres grading 10 % U3O8. Uranium prices are expected to start heading sharply higher by many analysts.

Integra Gold added two cents last week as it continues to attract attention after announcing it would issue 30 million flow-through shares to investors at $0.50 a share for total proceeds of $17.25 million. Eldorado Gold is participating in its own private placement into Integra for $2.4 million hard dollars at $0.315 per share. That puts Integra into a solid cash position as it works to expand resources at its Lamaque project in Val-d’Or, Québec.

First Mining Finance Corp dropped a penny, as it continues to acquire gold-focused mining assets, now with 21 in Canada, Mexico and the U.S. This will be one of the juniors to watch if a gold bull market materializes this year.

ProntoForms Corporation managed to squeak into the top volume traders for the week after it traded 1.8 million shares in one day on the news that it had produced a video with AT&T showing how one of its clients, AAA Carolinas, has successfully deployed an instance of AT&T’s Mobile Forms, which are essentially a ProntoForms product.

And finally Leucrotta Exploration Inc., an Alberta-based oil and gas explorer tacked on $0.14 in the week’s best TSX Venture performance after it announced it had increased its Montney development drilling inventory to 160 gross (128 net) drilling locations from the previously disclosed 78 gross (70 net) drilling locations in the highly prolific Lower Montney Turbidite play.

 

 

 

James West

James West

Editor and Publisher

James West founded Midas Letter in 2008 and has since been covering the best of Canadian and US small cap companies. He covers global economics, monetary policy, geopolitical evolution, political corruption, commodities, cannabis and cryptocurrencies. As an active market participant, James is not a journalist and is invariably discussing markets...
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