Following were the notable movers on the TSE. These stocks may be in action this week
Pontus Protein (HULK:V): One of the stocks that you could possibly look into this morning is that of Pontus Protein (HULK:V). While it is true that there has been no news about the company in recent days, it could still be a good move to take a look at the significant development from back on February 8.
At the time, the company had announced that it had appointed a new Non-Executive member of the Pontus Protein board of directors in the form of Frank Port. It could well prove to be a major appointment considering the fact that Port is a highly experienced executive and bring in financial management as well as executive experience spanning as long as 35 years. It may be a good move to track this stock.
Bitfarms Ltd (BITF.V): With the commencement of operations in January at its 10 MW farm in Paraguay, Bitfarms boosted total farms in production from six to seven and total capacity to 116 MW (+9% from prior 106 MW). For January, the company achieved 2.3 EH/s (effective Jan.23), which is up 100 petahash per second from December 2021.
The company mined 301 new BTC (+51% from year ago month); 9.5+ BTC mined daily on average which is equivalent to ~$365,900/day and ~$11.4M for the month.
HIVE Blockchain Technologies Ltd (HIVE.V) reported Q3 revenue from digital currency mining of $66.18 million up from $52.61 million in the previous quarter, primarily due to a jump in crypto prices and more production of bitcoin as a result of the Quebec and Atlantic facility acquisition.
Gross mining margin came in at $61.65 million also got boosted from $45.02 million in Q2. Q3 gross margin ticked higher to 68% from 67% in the second quarter. Q3 adjusted EBITDA of $77.60 million, up from $52.30M in Q2.
Great Bear Resources Ltd (GBR.V) operates as a mineral exploration company in Canada. The company primarily explores for gold. Its flagship property is the Dixie project covering an area of 9,140 hectares located in the Red Lake district of Ontario.
The company was formerly known as Great Bear Uranium Corp. and changed its name to Great Bear Resources Ltd. in January 2010. Great Bear Resources Ltd. was incorporated in 2001 and is headquartered in Vancouver, Canada.
On the other hand, Standard Lithium (SLI.V) is a stock that is now under the scanner after it became the subject of a pretty scathing short report from the firm Hindenburg Research. The short report had been released back on February 3 and soon after the release of the report the stock had tanked by as much as 17%.
The report mainly dwelt with the track record of Standard Lithium and also alleged that there might have been improper capital allocation and false claims that may have been made by the company. In light of such a scathing report from the firm, there has been significant panic among investors and the selloff that the Standard Lithium stock suffered from was perhaps not a surprise.
Yet again, the stock that is included here has not been in the news in recent days but it might be helpful to look into the announcement from C3 Metals Inc (CCCM.V) on February 7.
The company announced at the time that a larger second rig had been set up at the Jasperoide site that the company owns in Peru. It was a major announcement from the company at the time and was a reflection of its ambitions with regards to the particular project. It may be a good idea to keep track of the developments on that front.
