From East to West, wildfire smoke has blanketed the skies in smog, forcing people to inhale some of the worst smog on Earth and prompting air quality advisories.
Flights and sporting events have been postponed and many find themselves searching for their old COVID masks before going outside. The fire situation in several Canadian provinces has already had a profound impact on numerous industries.
After stopping work one month ago, Baytex Energy (TSX:BTE) has brought back onstream the full 24,000 boe/d of production that was shut-in as a result of the Alberta wildfires.
The company stated that there was no damage to its assets or infrastructure. It is estimated that production was curtailed by approximately 12,500 boe/d for the month of May.
Wildfires remain active in Baytex’s operating areas and the team’s leadership said the situation will still be monitored closely.
Meanwhile, fires raging in Québec have forced the shutdown of several mining operations. A state of emergency has been declared and companies such as Troilus Gold Corp. (TSX:TLG) have seen their operations impacted as regions become inaccessible.
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Elsewhere in the province, Wallbridge Mining Company Ltd. (TSX:WM) was forced to temporarily evacuate its Fenelon Gold project camp and suspend all exploration activities on its Detour-Fenelon Gold Trend Property due to an emergency order from the Québec Ministère des Ressources naturelles et des Forêts prohibiting access to lands in the province impacted by forest fires.
“Safety is of paramount importance at Wallbridge,” said Marz Kord, President and CEO. “All of our employees and contractors’ staff have been safely evacuated and we have taken appropriate measures to secure and mitigate risk to the Fenelon camp site. Exploration activities at Fenelon and our other projects will resume as soon as practicable.”
Lastly, in other news, Datametrex AI Ltd. (TSXV:DM) subsidiary DM EVS, an EV charging station company, has signed a five-year partnership with the Holiday Inn Vancouver Centre.
DM EVS will be the exclusive provider of EV chargers and services for Holiday Inn’s Vancouver West Broadway establishment, with potential to expand to other branches. The property’s owner, InterContinental Hotels Group, is one of the leading hotel companies with over 900,000 rooms globally.
The EV charging station company is entitled to 100 per cent of the revenue generated from charging operations and carbon credits.
Datametrex stands to benefit from exposure to a large pool of consumers, which the company expects will lead to significant profit and revenue growth.
As this week showed, you never know what to expect when it comes to each sector’s performance, or the general market. Investors should stay as up-to-date as possible, and for the latest on small-cap stock movements, there’s no better place than the Stockhouse Bullboards. For previous editions of Buzz on the Bullboards: click here.
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