In our most recent survey for Bullboard activity (May 24 – 30), we’ve seen considerable jockeying for position among the Bullboard leaders. However, perhaps the most interesting story of the week (for Bullboard users) is a corporate power struggle currently taking place with a TSX-listed company.
In many ways, corporations resemble families. One of those similarities is that the members of a corporation will disagree – just like the members of a family. And, just like a family, sometimes these disagreements turn into fights. Once that occurs, then (just like a family) the final outcome is often some sort of divorce.
This is what has been occurring recently with Karnalyte Resources Inc (TSX: KRN, OTCQB: KRLTF, Forum). This is a mineral exploration and development company with a focus on potash, magnesium, and other industrial minerals.
Roughly a week ago, a simmering internal dispute erupted into a public fight. Naturally, this is a scenario that is not in anyone’s best interests. More recently, on May 29,2018, Karnalyte issued a follow-up release suggesting that consensus is building (for its upcoming AGM) behind the slate of management nominees selected by the current board.
And, just like a family, as a fight/disagreement is put into the past, what follows is relief. What does “relief” look like for a public corporation? Take a look at the chart.
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For investors, where do you go when one of the corporate “families” in which you invest descends into public squabbling? To the Stockhouse Bullboards.
Over the past week, Bullboard reads for Karnalyte have spiked. Investors meet to discuss the internal dispute and weigh their options. And when there is (apparently) a happy ending to the dispute, they also congregate to share their relief.
Behind Karnalyte Resources on the Metals & Mining leaderboard are a couple of familiar names with large Stockhouse hubs: Nemaska Lithium Inc. (TSX: NMX) and Novo Resources Corp. (TSX: V.NVO). In the 4th slot, however, is a new name to the mining leaderboard: Pacton Gold Inc. (TSX: V.PAC).
What’s the “Buzz” with Pacton? A strong hint comes in their latest news release:
Pacton Gold to Acquire Granted Mining Leases and Further Increases its Strategic Property Portfolio in Western Australia's Pilbara Mining Region
Gold mining investors at Stockhouse will recognize Australia’s Pilbara Mining Region, an area known for lucrative mineralization. Who else is sniffing around for gold in this part of the world? None other than Novo Resources.
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As investors can see, enthusiasm has been building steadily for Pacton over the past year, although there has been a rather steep sell-off after its strong spike.
Elsewhere on Stockhouse, in the cannabis sector, heavyweight Canopy Growth Corp (TSX: WEED) smoked the competition for a second week in a row. Meanwhile, in the Industrials sector, interest has also suddenly perked up on the Bullboard of iconic Canadian industrial, Bombardier Inc. (TSX: BBD.A). The Company recently announced a new passenger jet initiative.
Also showing additional life this week is the tech leaderboard. Dominating the discussions this week is Reliq Health Technologies (TSX: V.RHT). Operations have been really heating up lately, with recent news releases on multiple fronts.
Reliq is focused on “mobile health and telemedicine solutions”, a rapidly growing niche in the healthcare sector. While the share price has softened recently, RHT has delivered a very strong performance for shareholders over the past year – and Stockhouse investors have taken note.
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The Stockhouse Bullboards: come here to check on the hottest sectors or the hottest companies, or just hang out to soak up the latest corporate gossip.