Junior Gold Miner Climbs on Drill Results

Published:

Sean Mason | February 5, 2016 | SmallCapPower

Some speculators took a shine to gold assay results Friday, while financials weighed on a wireless play. Here’s some small stocks making big moves on Friday, February 5, 2016 (as of 11:30 am EST):

LSG logoLake Shore Gold Corp. (TSX: LSG) shares jumped 11% to $1.47 on Friday after the Canadian-based gold producer announced results from the first 13 holes (1,600 metres) of a new surface drilling program at the Whitney Project in northern Ontario, which included 29.42 grams per tonne (g/t) gold over 12.0 metres.

Lake Shore Gold is a Ubika Gold 20 component company. For more gold junior investing ideas please click here >>

As well, shares of Sierra Wireless (TSX: SW) slid 23% to $15.63 as the wireless solutions provider said it recorded a loss of $383,000 in its fourth quarter, which fell short of Wall Street expectations.

Intermap Technologies Corporation (TSX: IMP), meanwhile, reported that it has entered into definitive agreements for the creation, operation and maintenance of a national spatial data infrastructure. The total value of the contract is estimated at US$175 million. Intermap Technologies stock popped 86% to $0.40 following the announcement.

Finally, Microbix Biosystems Inc. (TSX: MBX) shares added 9% at $0.30 after the provider of biological products and technologies announced plans to develop and introduce new products for use in diagnostic tests and vaccine research in response to the emergent Zika virus.

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