The week in markets is ending with notes of caution and optimism as record high August inflation numbers, released on Wednesday, set the stage for a new beginning in Canada once votes are tallied up next Monday night.
According to Statistics Canada, the price of goods and services rose 4.1 per cent since last August, the highest in 18 years, meaning the value of the dollar is quickly eroding as pandemic fears wane and corporate revenues rise.
The markets are reflecting the tension in the air with the S&P/TSX Composite Index down almost 1.3 per cent for the week and short-term bonds ticking up 4 basis points on Wednesday’s inflation news.
While everyday consumers are tightening their belts, investors are being extra cautious with their allocation decisions. The matter of generating decent, steady income remains an open question, with 1-3 year government bonds averaging only 0.43 per cent, and the Bank of Canada keeping interest rates low for the foreseeable future. Where is one to turn for opportunities at a decent return?
For our readers, stocks are the clear answer, with stories in mining, technology and psychedelics garnering the most eyeballs over the last five trading days.
PyroGenesis (TSX:PYR) announces $6 million torch order with a major iron ore pelletizer
PyroGenesis Canada Inc. has received an order for high-powered plasma torches and ancillary equipment.
The C$6 million order comes from a multi-billion-dollar producer of iron ore looking to reduce greenhouse gases by replacing its fossil fuel burners with PyroGenesis’ proprietary plasma torches.
Once the torches are successfully installed and implemented, the client has indicated plans to order an additional 130 torches.
PyroGenesis has revised the estimated net present value per torch sale to be approximately $7 million.
PyroGenesis is up by 7.45 per cent over the past week trading at $5.48 per share as of 12:05 pm ET.
NEO Battery Materials’ (TSXV:NBM) silicon microparticles excel in solid-state battery test
NEO Battery’s silicon microparticle anodes have achieved exceptional cycling performance with solid-state electrolyte batteries.
NEO’s microparticles sustained their original capacity of 3,000 mAh/g without major capacity loss or performance degradation.
Metallurgical-grade silicon microparticles are the most promising candidate for electric vehicle and energy storage applications as they are 8 to 10 times less expensive than comparable nanoparticles.
NEO Battery Materials is down by 7.41 per cent over the past week trading at $0.75 per share as of 11:33 am ET.
GoldSpot Discoveries (TSXV:SPOT) and Critical Elements (TSXV:CRE) identify lithium targets at Bourier claims
GoldSpot Discoveries has partnered with Critical Elements Lithium to identify lithium targets using GoldSpot’s proprietary AI technology.
The company has been working to highlight the lithium potential of Critical Elements’ Bourier claims in Quebec’s Nemiscau greenstone belt.
In total, the survey identified 15 lithium exploration targets, reducing the area of investigation to approximately 9.5 per cent of the total claim holding.
The companies have conducted a 20-day prospecting program focused on GoldSpot’s high- to moderate-confidence targets.
GoldSpot Discoveries is down by 3 per cent over the past week trading at $0.97 per share as of 11:58 am ET.
Critical Elements Lithium is up by 2.24 per cent over the past week trading at $1.37 per share as of 12:14 pm ET.
Canbud (CSE:CBDX) signs MOU for psilocybin-producing mushroom R&D
Canbud Distribution has entered into a memorandum of understanding with the College of Agriculture, Science and Education (CASE).
Under the terms of the MOU, Canbud and CASE will research, develop and commercialize healing practices facilitated by psilocybin-producing mushrooms.
Our detailed look into the agreement is available here.
Canbud Distribution is down by 7.69 per cent over the past week trading at $0.060 per share as of 10:42 am ET.
Fobi (TSXV:FOBI) releases next-gen Fobi 3.0 IoT device
Fobi AI has released the next generation of its proprietary IoT device, Fobi 3.0.
The device delivers personalized marketing to retailers and CPG manufacturers.
Fobi 3.0 upgrades include dual USB ports, enhanced data processing and computing, increased device memory and native NFC application support.
The company will officially unveil the device at GroceryShop later this month in Las Vegas.
Fobi AI is up by 25.89 per cent over the past week trading at $2.82 per share as of 12:36 pm ET.
We’ll see you next Friday afternoon to recap the week in market-moving news on The Market Herald Canada.