The markets today were horrific in their downward descent. The DJIA was off by 371 points or 1.77%. The TSX like wise was down 269 points or 1.73 %. There will probably be a lot of people muttering into their cocktails this evening.
Home Capital Group (HCG) continued it’s slide through the day. This scary situation may end in a Bailout, Bail-in (of what is left of depositor’s accounts) or a Buy out. Whatever the final scenario, I have my concerns that the pension that provided the Line of Credit may have to compensate by austerity or reduced pension income. The little guy always pays the price. I also have to wonder about the member of both boards that brokered the deal, would this not be a blatant conflict of interest? Is there a watchdog with the government that should be protecting the pensioners?
Gold and Silver had a good day with an increase of $23.20 for Gold at $1259.5 and Silver was up $.118 to $16.86. There appears to be strong resistance throughout the day to keep Silver under $17.00
Copper was slightly negative at $2.54
Oil was up slightly to $48.97
Natural Gas was off .75% to $3.21
Aurora Cannabis (ACB) released results of the last quarter, revenues reflect 33.3% sequential growth over the previous quarter, driven both by increased patient numbers and higher revenue per patient.
The Highlights;
Achieved sales pace exceeding $2 million in gross monthly revenues.
Commenced sales of cannabis oils.
Construction of Aurora Sky, the Company's flagship new 800,000 square foot production facility at the Edmonton International Airport, is proceeding well and on schedule. The Company currently estimates the capital cost of the project to be in the range of $110 million.
Production at the new facility is expected to commence late in calendar 2017, with the full 800,000 square feet completed in 2018 and full capacity reached in 2019.
Completed the acquisition of Peloton Pharmaceuticals Inc., which includes a 40,000-square foot cannabis production facility in Pointe-Claire, Quebec, currently 80% complete. Subsequent to the acquisition, Aurora has re-initiated construction activities towards completion and licensing.
Aphria (APH) has received a license amendment from Health Canada that provides Aphria with additional production space of 57,000 square feet, as part of its expansion at its facility in Leamington, Ontario. This will more than triple Aphria's production capacity of medical cannabis from 2,600 kgs to 8,000 kgs annually.
"The license amendment marks the completion of the second part of Aphria's four-part expansion plan, set to be completed by July 2018. The expansion will propel Aphria's greenhouse footprint to become the largest in the industry.
THIS IS NOT FINANCIAL ADVICE
Please comment