Energy and mining stocks were trending yet again in Canadian markets this week, with companies like Topaz Energy (TSX:TPZ) and Alpha Copper (CSE:ALCU) topping today’s trending list with new all-time highs.
The Loonie is riding at just below US$0.79/C$1.00 today as the economy, and the job market, continues to be hit hard by the pandemic. According to the latest report from Statistics Canada, employment fell by 200,000 in January, while the unemployment rate rose 0.5 percentage points to 6.5 per cent.
The price of gold has risen 0.69 per cent over the last five days, and is currently sitting at US$1,808 per ounce.
Canadian oil prices are also up as the Canadian Crude Index rose 2.24 per cent to US$75.19 yesterday.
Meanwhile, Facebook’s parent company Meta Platforms is making headlines as shares plunged yesterday, with the company losing $200 billion of its value in one day, a record one-day loss for a U.S. company.
Technology stocks across North America were affected by the mega company’s declines, with losses spilling into European markets as well.
And while global share prices appear to be steadying once again, rising inflation shows little sign of slowing despite assurances from the Bank of Canada, with total CPI still at 4.8 per cent in December.
For now, the BoC has maintained its overnight rate at a quarter per cent, and expects Canada’s economy to grow by about 4 per cent in 2022 according to the its latest commentary on policy interest rates.
This week’s top 5 stories follow market trends with mining and energy companies trending and technology stocks also making an appearance.
Here’s a look at those stories:
Trillion Energy (CSE:TCF) releases corporate updates
On Monday, Trillion Energy CEO Art Halleran spoke with TMH’s Dave Jackson about the company’s latest updates on natural gas prices, future drilling, and relocation.
The company believes that the pressure on European natural gas prices is partly due to increased consumption across Europe and complications as tensions rise between Russia and Ukraine.
Trillion has relocated to British Columbia and recently made progress on an agreement to receive advice on institutional debt funding.
Shares in Trillion Energy Inc. are currently down 5.56 per cent, trading at $0.17 per share as of 2:11 pm EST after spiking to $0.19 per share on Friday morning.
Eloro Resources (TSXV:ELO) intersects high-grade mineralization at Iska Iska
In mining news, Eloro Resources released the results of another seven drill holes from its ongoing program at Iska Iska in Bolivia.
Dr. Bill Pearson, Executive VP of Exploration, sat down with Dave Jackson to discuss the results.
The company has completed 40,000 metres of its planned 51,000-metre drill program to date and plans to complete an initial mineral resource estimate by Q2 2022.
Shares in Eloro Resources Ltd. have risen 0.87 per cent over the last five days, trading at $3.48 per share as of Friday at 2:19 pm EST.
Nextech AR (CSE:NTAR) (OTCQB:NEXCF) signs agreement with DesignerInc
On the technology front, Nextech AR announced on Tuesday that it had received an initial order and signed a partnership agreement with B2B technology platform and marketplace DesignerInc.
DesignerInc’s B2B trade platform enables interior designers, architects and design firms to work efficiently, sourcing materials and furnishings from vendors across the globe.
Nextech AR CEO Evan Gappleberg sat down with Dave Jackson to discuss the opportunity.
Shares in Nextech AR spiked to $1.50 per share on Wednesday, and were up 4.65 per cent on the week as of Friday at 1:50 pm EST, trading at $1.35 per share.
Talon Metals (TSX:TLO) announces 31 new drill holes at the Tamarack Nickel Project
Also on Tuesday, Talon Metals provided an update on drilling at its Tamarack Nickel Project in Minnesota.
Talon reported an additional 31 new drill holes in the CGO West area, outside of the Tamarack Project’s resource area.
All of the new holes have intercepted nickel-copper mineralization, with assays pending.
Dr. Etienne Dinel, Vice President, Geology of Talon sat down with Dave Jackson to discuss the update.
Shares in Talon Metals Corp. are currently steady, trading at $0.65 per share as of 2:05 pm EST on Friday.
YahClick selects Clear Blue Technologies’ (TSXV:CBLU) Smart Off-Grid Solar Power Systems for Africa
On Thursday, Clear Blue Technologies announced that it had been selected as YahClick’s preferred Smart Off-Grid, solar power system provider for customer deployments across Africa.
Clear Blue co-founder and CEO Miriam Tuerk sat down with Dave Jackson to discuss the opportunity.
“YahClick is a leader in broadband and satellite services across Africa,” remarked Ms. Tuerk. “We are thrilled to be their partner as they roll out their customer networks across Africa.”
Initial installations under this partnership will begin in early 2022.
Shares in Clear Blue Technologies fell 7.69 per cent over the last five days and were trading at $0.24 per share as of 1:09 pm EST on Friday.
That’s all for our trending stories this week; tune in next Friday for more of our Top 5 stories.
