This week in the Canadian economy has seen grand pronouncements in the news as election signs appear on lawns across the country. Add to that a 10 per cent spike in oil prices, which will help our producers keep the lights on, and National Bank becoming the first of the Big Six to introduce commission-free trading, setting the tone for other players to make a move.
A spike in yields on Canadian three-month treasury bills, which have doubled to 0.2 per cent since May, shows that investors are abandoning the safer end of the yield curve for riskier, potentially more lucrative opportunities.
Today, Fed Chair Jerome Powell also indicated an ease in support for the U.S. economy later this year, suggesting that the country, and those that depend on it, are on the verge of finding their bearings as COVID concerns wane.
The S&P/TSX Composite Index, for its part, is up 0.93 per cent since Monday and 23.07 per cent over the past year, while the Canadian dollar stands at US$0.79/C$1.00, up from a low of US$0.75 over the past year.
Against this backdrop, our readers we’re especially interested in stories from the mining, energy, technology and cryptocurrency sectors. Let’s take a closer look.
ValOre Metals (TSXV:VO) discovers high-grade platinum group elements at Pedra Branca
ValOre Metals has discovered high-grade platinum group elements (PGE) in RC drilling at the Pedra Branca Project in northeastern Brazil.
Drill hole RC21SAS03 intersected 32 metres of mineralization grading 1.65 g/t palladium, platinum and gold.
Near-surface PGE mineralization was intersected in all five of the 2021 RC drill holes.
ValOre Metals is up by 11.11 per cent over the past week trading at $0.25 per share as of 10:32 am ET.
BeWhere Holdings (TSXV:BEW) reports second-quarter 2021 financial results
BeWhere Holdings announced record quarterly revenue and net income in the second quarter of 2021.
The company’s net profit increased by 432 per cent year-over-year, reaching $129,873 compared to a net loss of $39,133 for the same period in 2020.
Total quarterly revenue neared $2.28 million compared to $1.6 million for the same period in 2020.
BeWhere Holdings is up by 4.65 per cent over the past week trading at $0.22 per share as of 10:26 am ET.
Canada Silver Cobalt (TSXV:CCW) intercepts Cobalt in Castle East
Canada Silver Cobalt Works has announced major high-grade cobalt assays from its Castle East discovery.
Select intercepts along with previously announced silver results for the Big Silver, 17M and 50 West zones range up to 2.22 per cent cobalt and 89,853 g/t silver.
Ongoing drilling in the Castle East area is geared toward identifying new veins to enable a significant expansion to the existing resource.
Canada Silver Cobalt is unchanged over the past week trading at $0.32 per share as of 10:57 am ET.
Graph Blockchain (CSE:GBLC) shares New World NFT platform’s latest innovation
Graph Blockchain is announcing that New World Inc. is creating animated non-fungible tokens using its in-house motion capture technology.
Creators can use their own tracking data and map it directly to their NFT creation minted with New World Inc.’s app.
UFC fighter Ariane Lipsky is the most recent high-profile athlete to partake in the technology.
Graph Blockchain is down by 13.89 per cent over the past week trading at $0.078 per share as of 11:43 am ET.
HPQ Silicon stock (TSXV:HPQ) launches green hydrogen extraction technology venture
HPQ has signed a Memorandum of Understanding with EBH2 Systems SA.
EBH2 is a Swiss company with a proprietary electrolysis technology that can efficiently extract green hydrogen from virtually any water source.
EBH2 believes it can scale to power HPQ’s planned high purity silicon and nano silicon production. If successful, HPQ proposes to bundle the energy production capability of EBH2 systems with its silicon production.
Under the agreement, HPQ can acquire a perpetual worldwide license to sell or deploy the bundled HPQ Technologies – EBH2 generator-based systems.
HPQ Silicon Resources is down by 2.7 per cent over the past week trading at $0.72 per share as of 11:46 am ET.
That’s all for this week. We’ll be back next Friday afternoon for a glance at what’s trending on The Market Herald Canada.
