Small
cap stocks making big moves on Monday, June 9, 2014 (as of 4 pm EST)
Northquest Ltd. (TSXV: NQ)
shares surged 42% to $0.185 on Monday after Russian gold miner Nord Gold said
it has agreed to acquire a 22.3% stake in Northquest, which is developing the
Pistol Bay Gold Project in Nunavut, for $2.5 million.
As well,
shares of iCo Therapeutics Inc. (TSXV: ICO)
plunged 70% to $0.095 on volume of more than 10.9 million shares as the
biotechnology company reported inconclusive results related to the eight-month
visual acuity (VA) primary endpoint for subjects enrolled in the Phase 2 iDEAL
Study evaluating the efficacy and safety after repeated injections of iCo-007
in patients with Diabetic Macular Edema (DME).
True Gold Mining
Inc.
(TSXV:
TGM), meanwhile, announced that step-out drilling at the Karma Gold
Project’s Nami deposit in Burkina Faso, West Africa intersected 29.5 grams per
tonne (g/t) gold over 6.0 metres and extended the deposit 250 metres north,
along a corridor 150 metres wide. True Gold stock moved up 5% to $0.405.
Finally,
Continental Gold Limited (TSX: CNL)
shares rose 3% to $3.19 after the gold project developer reported results for
27 diamond drill-holes from the Yaraguá vein system at its 100%-owned Buriticá
project in Colombia, which included 6.9 metres of 97.8 g/t gold and 238 g/t silver.
