Momentum seemed to be building for shares of a junior explorer Friday following a drilling announcement. Here’s some small stocks making big moves on Friday, August 10, 2018 (as of 4 pm EST):
Abacus Mining & Exploration Corporation (TSXV:AME) shares jumped 16% to $0.26 on Friday after the junior explorer announced results from the initial three hole diamond drilling program on its Willow copper-gold property and adjacent Nev-Lorraine properties in Nevada. The Company added that several granite porphyry dykes thought to be related to the Luhr Hill Granite were also identified in two of the drill holes, along with a type of veining known as “early halo veins,” which are associated with economic porphyry deposits worldwide.
As well, shares of AutoCanada Inc. (TSX:ACQ) sank 27% to $10.75 as the North American automobile dealership group said its second-quarter revenue slipped 1.6% to $880.6 million, while its same-store revenue for the period declined by 5.1%.
Pretium Resources Inc. (TSX:PVG), meanwhile, reported Q2 production of 111,340 gold ounces at all-in-sustaining costs of US$648 per ounce of gold sold. Its revenue for the quarter of US$146.5 million and adjusted earnings of $0.26 per share surpassed analyst expectations. Pretium Resources stock moved up 19% to $12.13 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Abacus Mining & Exploration Corporation (TSXV:AME) shares jumped 16% to $0.26 on Friday after the junior explorer announced results from the initial three hole diamond drilling program on its Willow copper-gold property and adjacent Nev-Lorraine properties in Nevada. The Company added that several granite porphyry dykes thought to be related to the Luhr Hill Granite were also identified in two of the drill holes, along with a type of veining known as “early halo veins,” which are associated with economic porphyry deposits worldwide.
