The junior gold stocks we’ve dug up have rallied +14% over the past week, on average weekly volume that is ~110% higher than the monthly volume
SmallCapPower | February 26, 2020: So far, 2020 has seen substantial volatility in global financial markets fueled by the Corona virus scare and geopolitical tensions. The Dow Jones Industrials fell over 1,000 points on Monday, a drop not seen since December 2018. Recent events have caused a flight into safe haven assets such as gold, with the price hitting $1,690/oz. Rising gold prices has also fueled some momentum in the junior gold mining sector. Today we have discovered four Canadian junior gold stocks that have seen 15% or more price appreciation over the past week, on higher-than-average volume.
*Share prices as at February 24, 2020, data obtained from S&P Capital IQ
Anaconda Mining Inc. (TSX:ANX) – $0.255
Junior Gold Mining
Anaconda Mining is a junior gold exploration company focused primarily in eastern Canada. The Company main projects include three in Newfoundland: 1) The Point Rousse project comprising five mining leases and 24 mineral licenses; 2) the Viking project covering 6,225 hectares, and 3) the Great Northern project covering 9,850 hectares. In addition, Anaconda Mining has Cape Spencer in New Brunswick, an early-stage exploration project, which includes 106 claims covering 2,350 hectares. Anaconda is expecting to add a second mining operation, Goldboro in Nova Scotia, which could take Company’s production levels to 60-75Koz/yr. 2020 guidance is for 18-19Koz of gold at an operating cost of ~US$800/oz.
- Market Cap: $34.5M
- 7-Day Return: +15.9%
- YTD-Return: +2.0%
- 7-Day Average Trading Volume: 262,740
- 30-Day Average Trading Volume: 104,870
GoldMining Inc. (TSX:GOLD) – $1.98
Junior Gold Mining
GoldMining, a mineral exploration company, focuses on the acquisition, exploration, and development of projects in Brazil, Colombia, the United States, Canada, Peru, and other regions of the Americas. The Company controls a diversified portfolio of resource-stage gold and gold-copper projects. GoldMining also owns a 75% interest in the Rea Uranium Project located in the Western Athabasca Basin of Alberta, Canada. On February 24, GoldMining announced its plans to acquire the Almaden Gold Project in Idaho for $1.2M. The property has seen 934 holes of historic drilling supporting low-sulphidation epithermal gold mineralization.
- Market Cap: $286.7M
- 7-Day Return: +15.1%
- YTD-Return: +48.9%
- 7-Day Average Trading Volume: 603,930
- 30-Day Average Trading Volume: 346,140
First Mining Gold Corp. (TSX:FF) – $0.27
Junior Gold Mining
First Mining Gold develops and explores for gold mineral properties in addition to copper and iron ore deposits. The Company holds a portfolio of 24 mineral assets in Canada, Mexico, and the United States. Last September, the Company released a PEA for its Springpole Ontario Mine, indicating the potential for annual production of 355K oz/AuEq at an ASIC of $552, and a 10-year mine life.
- Market Cap: $163.3M
- 7-Day Return: +14.9%
- YTD-Return: +5.9%
- 7-Day Average Trading Volume: 1,175,890
- 30-Day Average Trading Volume: 580,040
Nighthawk Gold Corp. (TSX:NHK) – $2.46
Junior Gold Mining
Nighthawk Gold identifies, acquires, explores, and evaluates gold properties in Canada. Its land position covers an area of 222,203 acres located to the north of Yellowknife, the Northwest Territories. It owns a 100% interest in the Indin Lake Gold property that consists of the Colomac Gold Project in the Northwest Territories. There are several highly-prospective target areas at the Indin Lake Gold property located in Canada’s Northwest Territories. The Colomac project hosts an Inferred resource of +2Moz at ~1.6g/t Au.
- Market Cap: $110.6M
- 7-Day Return: +11.8%
- YTD-Return: -5.4%
- 7-Day Average Trading Volume: 166,880
- 30-Day Average Trading Volume: 76,220
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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