Penny Stocks Momentum List: HIHI, APHLF, BMXI, MDRM, CDSG

Momentum is a major factor when it comes to choosing the right stocks and it is no different with regards to penny stocks. In the past few days, there have been a number of stocks which had managed to gather strong momentum. This feature would give you a deeper look into the stocks of five of those companies.

Holiday Island Holdings Inc (OTC:HIHI) – The company is a major player in the remote living and recreational real estate space. Yesterday, Holiday Island Holdings Inc came into focus in a big way after it announced that it had completed a reverse merger with the privately held oil and gas specialist XA Interactive Inc. It was a significant new development given the fact that the reverse merger would mark the start of the process of recapitalization of the company and would also provide XA Interactive with the advantage of turning into a publicly traded entity.

As per the provisions of the definitive agreement between the two parties, Holiday Island Holdings turned over the control of the public company to XA Interactive. In exchange, the company got a cash amount, the specifics of which were not disclosed.

The strategic move would work as the basis of XA’s expansion and help the company get into a new age of progress. S Gene Thompson, the Chief Executive Officer and Director of the company spoke about the matter as well. He noted that the reverse merger between the two parties had actually been finalized on July 3, 2023. He added that it was a ‘monumental moment’ for Holiday Island Holdings and its shareholders.

Alpha Lithium Corporation (OTC: APHLF)  – The company is currently involved in the development of a portfolio of highly prospective lithium assets in Argentina. On Monday Alpha Lithium Corporation came into focus after it announced the results of the preliminary economic assessment (PEA) for its fully owned Tolillar brine project located in the Salta province in Argentina. The PEA is an independent economic assessment of the potential value of the property as per the lithium resources that had been highlighted in the resource estimate from September last year. 

The PEA evaluated the commercial scale operations consisting of 25000 tons per annum for the purpose of producing lithium carbonate chemicals suitable for batteries. Additionally, it ought to be noted that the estimate did not include the contribution from wells that had been drilled in the middle of last year.

However, the company noted in its press release yesterday that intended to add the drilling that had been completed since mid-2022. The President and Chief Executive Officer of Alpha Lithium Corporation Brad Nichol spoke about the PEA as well. He stated that it demonstrated that Tolillar was an exceptionally strong lithium carbonate project and that too with assumptions that were largely conservative.

Brookmount Gold Corp (OTC: BMXI) – The gold production and development company was in the news cycle yesterday after it announced its quarterly financial schedule. Brookmount Gold Corp announced that it would file its financial report for the second fiscal quarter of 2023 with the OTC Markets on July 22, 2023.

The quarterly report could be viewed on the investor relations section of the company’s website and on the OTC Markets website. On the same day, the company would also release its commentary in relation to the financial results and it would be distributed through a press release.

A conference call will also be hosted to discuss the financial results in the week which begins on August 6, 2023. Additionally, further information would be provided on the uplisting project as well as the three-year audit. Brookmount Gold would also provide an update about the North American gold production program at the McArthur Creek asset.

On April 20 the company announced its financial results for the first fiscal quarter and delivered a strong performance. Brookmount Gold clocked sales of $4540 million for the quarter, which worked out to a year-on-year rise of 13.1% from the prior year period. Gross profit for the quarter stood at $296 million which reflected year on year rise of 9.99%.

Modern Mobility Aids Inc (OTC:MDRM) – The company launched a number of telehealth initiatives in 2023 and on Monday it came up with an update for its shareholders about the same initiatives. The company noted that amidst emerging challenges in the healthcare space, Modern Mobility Aids Inc had been able to make significant progress in its quest to offer accessible and convenient healthcare.

The company noted that it was focused on expanding its offerings in the Canadian market through its 100% owned entity Galileo Life Sciences. The company is working on a range of partnerships to encompass a larger variety of medical services and offer those to a wider customer base.

Additionally, the company also noted that its telehealth services had also received highly positive feedback from patients. Modern Mobility Aids also revealed that it was in the final stages of discussions for expanding its Smart Clinic telehealth services to new markets in Canada and internationally. That would allow the company to reach a much wider customer base. Last, but not least, the company also revealed that it was constantly looking for technological enhancements so that its telehealth offerings could be top-notch.

China Dongsheng International Inc (OTC: CDSG) – On July 10, the company announced strong lithium geochemical sampling results from the additional surface sampling program at its Titan 1 lithium property located in Tanzania. As part of China Dongsheng InternationalInc’s 2023 exploration initiative at the property, a number of additional soil geochemical sample lines had been completed in a number of targeted areas.

The technical team of the company made a return to the Southern part of the project in order to survey and conduct fresh lines of soil sampling. The results indicated that there were very high lithium grades in the new region. The company’s CEO Craig Alford noted that everyone at the company was excited at the results.