Canada’s main stock exchange saw record highs this week as political tensions drove stocks upwards.
Canada’s main stock exchange saw record highs this week as political tensions drove stocks upwards. The S&P/TSX Composite Index opened Friday just short of the week’s highs, pulling back 28.14 points to 17,207.43 after a week driven by conflict on the international stage. The TSX Venture Composite Index bounced back by 1.05 points on Friday to open at 578.72 with each of the 12 Toronto subgroups divided evenly.
In the cannabis industry, this week a number of experts cautioned investors against Aurora Cannabis (NYSE:ACB, TSX:ACB), a Canadian licensed producer with a $360 million loan due in August 2021. According to Bank Of America analyst Christopher Carey, the company’s financial commitments remain a significant concern for shareholders. “With balance sheet risks to remain a core investment thesis in 2020 in our view, and lingering uncertainty especially on financial covenants, we struggle to envision a scenario where shares have sustainable support.”
In case you missed it, here is this week’s resource big news roundup:
- Puma Samples 1.87 Percent Cu and 1.06 g/t Au in the East Zone of Chester Property
- Pistol Bay Mining Releases Exploration Plans for Multiple Gold-VMS Drill Permitted Targets in Red Lake District
- Surge Successfully Sells its Trapper Lake Land Positions to Brixton Metals
- American Battery Metals Corporation Announces Launch of Leading-Edge Battery Recycling Project; “Perfect Complement” to the Company’s Extraction and Mining Production Divisions
- Battery Grade Lithium Carbonate with 99.9 Percent Purity Produced from Kachi
- Canada Cobalt and Polymet Enter Into Definitive Purchase Agreement
- Golden Ridge Resources Discovers New Copper Zone Near Schaft Creek with Grab Samples up to 5.29 Percent Copper
- Newrange Gold Confirms Additional Continuity of Gold Mineralization and Provides Summary of Results at Good Hope Mine
- White Gold Corp. Intercepts High-Grade Gold on 5 New Drill Targets on JP Ross Property Further Validating and Extending Regional Scale Mineralized Footprint
- Granada Gold Mine Intersects 11.45 g/t Gold Over 33 Meters, Supports Continuity of High-Grade Structures
- Rio Silver Inc. Acquires the Palta Dorada Gold-Silver-Copper Project in Northern Peru and Signs Memorandum of Understanding for Joint Development
- Velocity Announces Initial Drill Results from the Sedefche Gold Project, Southeast Bulgaria