The stock market kicked off in the best way in 2023, and many companies provided promising results. We analyzed news and brought up companies that will be likely to perform either thanks to promising updates or from financing to strengthen operations. In early February, Zentek, Magna Mining, and Brunswick Exploration brought much interest from investors, and we analyzed these companies for you. 

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Zentek

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Zentek (TSXV: ZEN, NASDAQ: ZTEK) is at the forefront of creating and marketing cutting-edge healthcare products powered by nanotechnology that enhance people's lives. The company’s intellectual property is a key differentiator and value driver for healthcare technologies with the potential to revolutionize prevention, detection, and treatment. The company’s licensed patent, ZenGUARD™ is the result of 2 years of research combined with the power of graphene. ZenGUARD™-coated masks remove 98.8% more bacteria and 97.8% more virus compared to surgical masks standardly used in clinical care settings (American Society for Testing and Materials ASTM Level 3, 3-ply uncoated), resulting in over 99.99% Bacterial Filtration Efficiency and Viral Filtration Efficiency ratings (exceeding the highest standard specifications for the performance of materials used in medical masks). Zentek provided updates on the Phase 2 testing of ZenGUARDTM. The company reported that its MERV 8 filters achieved 34.56% filtration efficiency of the Phi6 virus, a surrogate for COVID-19, during a single air exchange.

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The company announced in January Southmedic would distribute its solutions. Southmedic is one of Canada's largest independent medical device distributors and has a committed sales team that supports all Canadian hospitals, clinics, and private offices from coast to coast. Southmedic sells other types of personal protective equipment in Canada and has distribution in over 80 different nations. 

Regarding fundamentals, the company has over $17M in cash for no debt. The company has 99M shares (September 30, 2022), 8.7M options (avg. price: $2.07), and doesn’t have any warrants. Traded at $2.29, the stock witnessed a 52-week low of $1.72 and a 52-week high of $4.70.

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Magna Mining

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Magna Mining (TSXV: NICU, OTC: MGMNF)  is an exploration company that acquired Ursa Major Minerals in 2017 to possess the past producing Shakespeare Mine and Shining Tree Project. The Shakespeare project represents a solid opportunity to deliver value as it has already produced nickel, copper, and platinum group metals. Shakespeare currently has a resource that meets NI 43-101 standards, major permits for the construction of a 4,500 tpd mill and the restart of open pit mining, and a 180 km2 land package that is highly prospective for additional nickel, copper, and PGM discoveries.

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 Recently, the company updated news about its Crean Hill mine, which has produced nickel and copper for over 80 years. The majority of the company's drilling at Crean Hill in 2022, which began in November, was directed at contact Ni-Cu mineralization in the Intermediate Zone and high-grade nickel-rich massive sulfide veining in the 101 FW Zone. With low sulfide, high-grade platinum+palladium+gold mineralization hosted in a breccia corridor that extends into the footwall at the base of the Main Zone, the 109 FW Zone is a different type of mineralization. Recent drill program showed mineralization grading 0.4 % Ni, 0.5 % Cu, 7.2 g/t Pt+Pd+Au over 98.3 meters, including higher grade intervals grading 0.8 % Ni, 0.8 % Cu, 12.7 g/t Pt+Pd+Au over 44.0 meters, including 3.7 % Ni, 2.8 % Cu, 20.2 g/t Pt+Pd+Au over 7.1 meters.

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"Drillhole MCR-22-010 is Magna's first drill hole targeting the 109 FW Zone and will enable Magna geologists to better understand the 109 FW low sulfide, high PGE mineralization, and geological setting controlling the distribution and continuity of mineralization. This information will be essential for optimizing the mine plan for the preliminary economic assessment. 

David King, Senior Vice President for Magna

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Magna Mining closed an $18M private placement through the issuance of 8.2M shares at a price of $1.8 per share and 2.6M shares at a price of $1.10. Before this financing, the company had $2.3M in cash, 71M shares issued and outstanding, 5M options (avg. price: $0.31), and 14M warrants (avg. price: $0.54). The stock prices witnessed an uptrend since November 2022 and could top its 52-week high of $1.49 again. 

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Brunswick Exploration

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Brunswick Exploration (TSXV: BRW, OTC: BRWXF) is an early-stage exploration company looking for metals needed for decarbonization and the transition to renewable energy. 

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The company has several projects located in Ontario, Quebec, New Brunswick, and Nova Scotia. Brunswick is one of the few companies to do grassroot exploration to find new lithium discoveries, providing a high-reward high risk endeavor. Brunswick Exploration is also a new-type-of-era mining company focused on ESG concerns. Each step affected by the company aims to protect and raise environmental awareness to ensure the company minimizes its impact on properties. One of the company’s flagship projects is the Hearst project, comprising 1,418 cells and 226 blocks covering 29,805 hectares of land. A drill program is expected to start in H1 2023, focusing on the decoy pegmatite. Future work will focus on several newly identified evolved pegmatites from the limited 2022 prospecting campaign. 

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“The Hanson Lake Project confirms the potential for hard-rock lithium deposits in Saskatchewan ,and this addition to our portfolio strengthens the Company’s presence in Western Canada. In Saskatchewan alone, with the addition of this project, we have now acquired over 180 outcropping S-type pegmatites that are minimum 500 meters in strike length, all of which have seen minimal or no exploration work.

Mr. Killian Charles, President and CEO

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The board of directors recently announced a Letter of Intent to option the Hanson Lake Project, a new and highly promising claim package that is situated just 2 kilometers from a major highway and about 55 kilometers west of Creighton, Saskatchewan. This package includes four undrilled spodumene-bearing pegmatites that are part of a much larger pegmatite field.

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Brunswick Exploration benefits from a solid share structure. The available float is limited to only 37% of the structure. This can prove interesting as the stock may fluctuate more easily when combined with substantial volume. The balance is held among insiders (35%), various family offices (18%), and the Osisko Group (10%). As of January 15, 2022, 173M shares were issued and outstanding, 5.7M warrants and 6.5M options are available. Another exciting piece of information is the company has $7M in cash.  The stock trades around $1.00 and tops its 52-week high of $1.05.

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