The junior gold stocks we’ve identified have surged more than 50% over the past month on greater-than-average volume
SmallCapPower | January 16, 2020: Over the past year there has been some volatility in global markets, fueled by the U.S./Iran conflict, U.S./China trade tensions, Brexit, and the U.S. Federal Reserve providing liquidity to the repo market, which has resulted in some junior resource stocks seeing positive price momentum. Today we have spotted three Canadian junior gold stocks that have seen 50% or more price appreciation over the past month, on higher-than-average volume. Price and volume momentum indicate bullishness, as increased share prices on higher volumes show heightened investor interest in a stock.
*Share price data as at January 14, 2020, data obtained from S&P Capital IQ
West Red Lake Gold Mines Inc. (CSE:RLG) – $0.085
Junior Gold
West Red Lake Gold Mines is a Toronto-based company focused on gold exploration and development in the Red Lake Gold District of northwestern Ontario. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced over 30 million ounces of gold from high-grade zones, including 18 million ounces from the nearby Red Lake Mine and Campbell Mine operated by Goldcorp (TSX:G). West Red Lake Gold Mines has assembled a 3100-hectare property that has a 12-kilometre strike length and three former-producing gold mines.
- Market Cap: $12.1M
- 5-Day Return: +61.5%
- 30-Day Return: +162.5%
- 30-Day Average Trading Volume: 262,170
- 90-Day Average Trading Volume: 164,910
Jaguar Mining Inc. (TSX:JAG) – $0.25
Junior Gold
Jaguar Mining is Canada-based gold company operating in Brazil. The Company has two active mines and several exploration projects. The Company has a strong exploration pipeline initiative for its mines in Turmaline, Pilay, and Roca Grande. On November 13, 2019, JAG announced Q3 F2019 financial and operating results, highlighted by consolidated gold production of 19,324 oz and positive adjusted EBITDA of $5.7M.
- Market Cap: $81.0M
- 5-Day Return: +30.8%
- 30-Day Return: +104.0%
- 30-Day Average Trading Volume: 950,420
- 90-Day Average Trading Volume: 534,080
Granada Gold Mine Inc. (TSXV:GGM) – $0.165
Junior Gold
Granada Gold Mine is a developer advancing its ~2,500 Ha Granada Gold property located in Quebec, which includes two-exploration claims and two mining leases. The historical mine produced 51,500 oz Au, averaging 9.7 g/t Au and 1.5 g/t Ag, between 1930 and 1935, before a fire destroyed the mine’s surface structures. The property was sold to Granada in 2006. In 2007, the Company extracted a bulk sample grading 1.62 g/t of gold, with a 90% recovery rate. GGM is planning to release a Feasibility Study (FS) that aims to develop a producing mine with a capacity of 80,000-100,000 ounces of gold per year. On January 9, 2019, GGM announced drill results with intersects of 11.45 g/t gold over 33 m at the Company’s Rouyn-Noranda gold deposit in northern Quebec.
- Market Cap: $13.3M
- 5-Day Return: +37.5%
- 30-Day Return: +73.7%
- 30-Day Average Trading Volume: 476,590
- 90-Day Average Trading Volume: 202,730
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