Member ‘Brice‘ climbed to first-place today with his picks Royal Nickel Corporation (TSX: RNX) and Kraig Biocraft Labs Inc. (OTCQB: KBLB) while member ‘Rainendown‘ slid to second-place, 8.82% ahead of third-place member ‘allen‘. Although last month’s Stock Challenge Champion ‘avispa‘ has been missing from the Top 3 most of this month’s Stock Challenge, he’s returned with fine form, managing to reach 4th place with an average return of 33.16%.
Avispa and the other contenders will have to do better than that to dethrone Brice, however.
Brice’s first pick, Royal Nickel Corporation (aka RNC Minerals) is up a whopping 58.14% from $0.43 to $0.68 for the month. Royal Nickel Corporation announced earlier in June that it had made another high-grade gold discovery at its Beta Hunt Mine.
“An estimated 987 oz of coarse gold has been recovered in 238 kg of rock from a series of veins. The accuracy of this estimate at this stage is considered to be +10%/-25% based on the measurement of the estimated gold content for each of the samples by specific gravity determinations.
RNC will provide a final estimate of ounces recovered once this material has been processed.“
With a gold bull on the run, it’s no wonder why Brice and allen are sitting in the Top 3. Gold prices are currently hovering over $1400, and some analysts believe it could be headed as high as $1,700 per ounce.
“Gold’s gains last week came after a Fed meeting in which the central bank held rates steady but spoke of “uncertainties” over the U.S. economic outlook. The European Central Bank and Bank of England also made dovish comments during the week. Precious metals like gold tend to attract buyers in a low interest-rate climate.
But geopolitical tensions between the U.S. and Iran and uncertainties on the global trade front have also lured investors into gold, seen as a haven investment in times of political and economic uncertainty.“
June 24, 2019 Stock Breakouts and Breakdowns
The stock breakout of the day goes to Burcon NutraScience Corporation (TSX: BU), a global leader in developing functionally and nutritionally valuable plant-proteins. Burcon rose 22.22% from $0.55 to $0.62 today, having announced earlier this month a joint venture partnership for its new $65 million pea-protein and canola-protein production facility to be built in Western Canada.
Today’s biggest stock breakdown goes to Pier 1 Imports Inc. (NYSE: PIR), who shed 32.22% to fall from $10.60 to $7.68. The company’s 1-for-20 reverse stock split took effect just last Thursday.