The junior resource stocks we’ve dug up have performed strongly relative to their 52-week highs
SmallCapPower | April 3, 2020: Broad-based stock market selloffs, such as the current COVID-19 drop, tend to hit penny stocks and smaller-cap names the hardest. Today, however, we have discovered three junior resource stocks that have performed strongly relative to their 52-week highs.
*Returns are based on closing stock prices as of April 2, 2020
Robex Resources Inc. (TSXV:RBX) – $0.185
Robex Resources is a Canadian mining company based in West Africa that operates the Nampala mine in Mali, which reached commercial production on January 1, 2017. During 2019, Robex achieved better-than-expected gold production of 55,685, up 20% from 2018, while targeting all-in-sustaining production costs of less than US$900 per ounce. On March 18, 2020, the Company announced the first dividend payment in its history and declared an extraordinary dividend of $0.02 for each outstanding common share, payable on April 7, 2020 to shareholders of record at the close of business on April 1, 2020.
Mako Mining Corp. (TSXV:MKO) – $0.36
Mako Mining is a gold project developer and exploration firm that is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. The Company has defined an Indicated resource of 150,000 gold ounces at 7.13 grams per tonne (g/t) along with an Inferred resource of 192,000 ounce of gold at 6.78 g/t. On March 25, 2020, Mako reported drill results from the Las Conchitas area of its wholly-owned San Albino-Murra property, which included 25.78 g/t gold and 18.3 g/t silver over 3.85 metres, 45 metres from surface.
New Pacific Metals Corp. (TSXV:NUAG) – $4.99
New Pacific Metals is Canadian exploration and development company that owns the Silver Sand Project in Bolivia as well as the Tagish Lake gold project in the Yukon. Its flagship Silver Sand Project is located near the world-famous Cerro Rico silver-base metals deposit. On February 19, 2020, the Company announced assay results from the final 37 drill holes from its 2019 resource definition and discovery drill program at Silver Sand, which included 279.25 metres of 91 grams per tonne (g/t) silver. Large, notable shareholders of New Pacific Metals include Silvercorp Metals (29% ownership interest) and Pan American Silver (17%).
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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