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Buzz on the Bullboards: They Can Build You Up, They Can Tear You Down

Stockhouse Editorial
9 Comments| May 27, 2021

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(Drill core from hole NFGC-21-182 via New Found Gold Corp.)

“Sell in May and go away” is a common term used by many in the investing world and while that seems true right now, there is a lot happening around all the market sectors that have kept people busy over the past week and traders are eager to see what develops next.

New Found Gold (TSX-V: NFG, Forum) reported further assay results from an additional four holes drilled at the Keats Zone. These holes were drilled as part of the NFG’s ongoing 200,000 metre diamond drill program at its 100%-owned Queensway Project located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

146.2 g/t Au over 25.6 metres in hole NFGC-21-182 is a 65-metre step-out to South at Keats, which extends the high-grade zone to 425 metres down-plunge were intercepted. Seven rigs are currently in operation at Queensway with the drill count planned to increase to 10 rigs by Q2 2021.

Elsewhere in Newfoundland, Sokoman Minerals Corp. (TSX-V: SIC, Forum) has staked claims and formed a strategic alliance with Benton Resources (TSX-V: BEX) to explore for gold.

The companies' new joint venture, Golden Hope, consists of 3,146 claims covering 786 sq km on two major gold-bearing structures. Golden Hope lies at the Northwestern edge of the Hermitage Flexure, the predominant geological feature of the South Newfoundland Appalachians.

The most prominent exploration target on the property is a potentially gold-bearing system of West-verging thrust faults and a transverse wrench fault system. The Western Hermitage Flexure remains largely underexplored despite known occurrences of gold and the presence of unsourced till, soil, and stream sediment geochemical anomalies.

The alliance also includes a 50-50 joint venture on Benton's recently acquired Kepenkeck Gold Property - 595 claim units over 15,625 hectares near the Northeastern extension of the Hermitage Flexure.

Reconnaissance Energy Africa Ltd. (TSX-V: RECO, Forum) was flying high on solid results and praise from Namibia’s government just a month ago … now several law firms, including national shareholder rights litigation firm Schall Law Firm are investigating claims on behalf of investors of NGM Biopharmaceuticals Inc. (NASDAQ: NGM) for violations of the securities laws. Other investigators are also looking into possible securities fraud committed by RECO and certain of its officers and / or directors and may file a class action on behalf of investors.

The Securities and Exchange Commission as well as IIROC prohibit the shorting of an issuer stock on pre-announcement of an impending private placement by people in hold of such inside information, as one Bullboard Poster on the RECO forum pointed out. They noted that, for instance, RECO went as high as $10.90 before its private placement - at a discount - $9.50 was announced. The poster went on to explain that regulators also prohibit the shorting of stock, post-announcement, from shares obtained through private placement. All shorts need to be covered by purchases in the market and such an act is considered “wash trading”, they added. The total shorts at 2.5 million have more than tripled.

The heat came down on Recon Africa after a report published by National Geographic earlier this month, “Oil company exploring in sensitive elephant habitat accused of ignoring community concerns: Namibians allege ReconAfrica disposed of wastewater unsafely, without permits, and ignored concerns about potential impact of oil drilling on water and wildlife.”

The report stated that, “ReconAfrica, a Canadian company exploring for oil and gas in Namibia upstream of a world-famous UNESCO World Heritage site that's home to elephants and other wildlife is disposing of wastewater without permits, according to a government minister.” The report continued to state that “[d]rilling for the first test well began in January, and waste fluids are being stored in what appears to be an unlined pond, where they could leach into the ground and contaminate the water supply in this desert region[,]” and “Namibia's minister of agriculture, water, and land reform, the agency responsible for water-related permits, told National Geographic in a written statement that ReconAfrica does not yet have permits approved to extract water to use in its drilling operations nor to dispose of the waste water[.]”

Following this news, ReconAfrica stock dropped roughly 6% to close at $7.50 per share on May 11th, 2021 and sits around $8.70.

Calling it a “hit piece”, RECO fired back with its own editorial retort, though many of its claims appear suspect given the investigations mounting around the embattled company.

Therma Bright Inc. (TSX-V: THRM, Forum) has secured a partnership with K-One MediTech to bring the Acuvid COVID-19 Rapid Antigen Saliva Test Kit to the marketplace.

K-One MediTech will act as the primary manufacturer in Asia to produce the AcuVid COVID-19 Rapid Antigen Saliva Test Kits under this two-year agreement term.

THRM’s Chief Executive Officer, Rob Fia commented that with this Asia-based manufacturing partner in place the team is ready to begin production of its CE-approved AcuVid COVID-19 Rapid Antigen Saliva Test.

“Therma Bright will be able to add FDA Emergency Authorization Use (FDA-EUA) and Health Canada (HC) approved kits once regulatory approvals are secured.”

COVID plays still take the top spot among Health Care Bullboards and for good reason. That said, the big story is the vaccine rollout and with that, comes a return to a “normal” mindset (whatever that is). As such, many investors might be returning their expectations to what they would have been prior to early 2020 in many cases. Do you agree? Let us know your thoughts by clicking the latest Investor Pulse Poll image below.

(Click image to vote.)

Looking at last week’s poll, it seems most of you want more out of the current legal cannabis market, but quite a number of you (arguably most of those who responded) are satisfied with where it stands now.

Some interesting developments from the world’s biggest cannabis producer, Canopy Growth Corp. (TSX: WEED, Forum) this week, the company has named the one and only Martha Stewart as the its official strategic advisor.

In this new role, Martha will leverage her product development and branding expertise, to provide the company with dedicated counsel ranging from product innovation to format development and strategic partnerships.

A lot has changed in the last 17 years. Martha Stewart’s CBD supplements line launched last fall in partnership with Marquee Brands and Canopy Growth. There is even a Martha Stewart CBD pet line.

(Image via Canopy Growth Corp.)

She said that over the past year, demand and awareness for CBD products has skyrocketed and working with WEED’s researchers and scientists, she was impressed with the company’s dedication to producing high quality, safe and consistent products.

“Deepening my relationship with the business is a natural fit given our aligned dedication and passion for bringing consumers innovative and quality CBD products and I'm thrilled to share the benefits of CBD with consumers all over the country.”

What the "Buzz"

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Theratechnologies Inc. (TSX: TH, Forum) has long been a favourite among Healthcare Bullboard posters who have been following its developments to commercialize innovative therapies.

The biopharmaceutical company reported on positive results, which included findings from a survey conducted among 30 patients using Trogarzo (that’s the brand name, the generic name is ibalizumab-uiyk), to assess real-world patient experience and acceptance of IV administration. The survey found that 100% of patients were either very satisfied or moderately satisfied with their experience with Trogarzo (87% and 13% respectively).

Other highlights include:

  • 60% said that their experience with Trogarzo was better than expected while 40% said it was about the same
  • 93% of respondents either found the IV infusion process very convenient or neutral (70% and 23%, respectively)
  • 93% said they would likely recommend Trogarzo to another patient living with HIV
  • 87% expressed very high satisfaction with the experience of receiving an infusion and seeing a healthcare professional every two weeks
  • 80% were of the opinion that a touchpoint every two weeks was likely to support adherence to other HIV medications

As businesses like those in travel and shipping try to revive their operations under COVID, some like Xebec Adsorption Inc. (TSX-V: XBC, Forum) announced this week that its wholly owned subsidiary HyGear, has signed an agreement to supply hydrogen to a fuelling station in the Netherlands. The agreement includes the on-site generation and delivery of 130,000 kg of hydrogen from HyGear’s nearby decentralized hydrogen production hub in Arnhem, Netherlands over a year and a half period. The supplied hydrogen is expected to support the fueling needs of approximately 33,000 fuel cell electric vehicle fills over the duration of the contract.

Canadian clean tech company Exro Technologies Inc. (TSX-V: EXRO, Forum) has developed a new class of power electronics for electric motors and batteries, is pleased to announce that it has successfully completed its pilot Battery Control System (BCS) in an operating second life energy storage environment.

The BCS pilot was tested in a 25kW 150kWh Energy Storage System with aftermarket battery cells, multiple inverters, and a grid level simulator. A 25kW 150kWh Energy Storage System is often found powering a small commercial space like offices or storage facilities. The ESS balanced all battery cells operating with different states of charge successfully at full depth of discharge.

(Image via Exro Technologies Inc.)

Having just received the requisite consent from the holders to amends the terms of its outstanding 7.45% Senior Notes due 2034 and holders of its 7.35% Debentures due 2026 aviation heavyweight Bombardier Inc. (TSX: BBD, Forum) has completed the sale of $260 million (USD) of its 7.45% Senior Notes to an institutional investor.

Following this private placement, the aggregate principal amount outstanding under the 2034 Notes is $510 million (USD). Bombardier intends to use the net proceeds for the repayment of a portion of the corporation’s outstanding indebtedness.

The story for each sector is likely to change by next week, and sometimes even more quickly. It is more important than ever for small-cap investors to stay up to date on the current conversations and company movements, the best place you will find is Stockhouse Bullboards. For previous editions of Buzz on the Bullboards: click here.

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FULL DISCLOSURE: Therma Bright Inc. is a client of Stockhouse Publishing.

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