Gold Junior Slides on Assay Results

    GTA Mining and Resources Inc. (CVE:GTA), a gold junior, announced assay results from its Northshore Property

    Sean Mason | November 1, 2016 | SmallCapPower

    One bad hole may have tarnished assays from a gold junior Tuesday. Here’s some small stocks making big moves on Tuesday, November 1, 2016 (as of 4 pm EST):

    GTA Mining and Resources Inc. (CVE:GTA) shares sank 39% to $0.07 on Tuesday after the gold junior announced assay results from the second and final phase of the 2016 summer drill program on its Northshore Property in northern Ontario, which included 2.84 g/t gold over 14.5 metres. One hole, G-16-01, drilled to test the on-strike potential of the high grade Gino quartz vein system returned no appreciable values.

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    As well, shares of Wajax Corporation (TSE:WJX) rose 11% to $16.99 as the provider of rental and after-sale parts and service support of equipment, power systems and industrial components said it expects about $8 million of savings in 2016, $15 million in 2017, and that fourth-quarter earnings will continue to benefit from the earnings improvement initiatives implemented.

    Voltaic Minerals Corp. (CVE:VLT), meanwhile, reported that it has signed an MOU with Enertrex Corporation to begin process development and optimization for the expected lithium brine solution extracted from the Green Energy Project in Utah using Enertrex’s Selective Lithium Process. Voltaic Minerals stock popped 58% to $0.095 following the announcement.

    In addition, shares of Cymat Technologies Ltd. (CVE:CYM) jumped 77% to $0.31 as the industrial materials developer said it has signed of a Memorandum of Understanding with Alucoil, SA, a wholly-owned subsidiary of Aliberico SL, whereby Cymat and Alucoil will jointly deploy their respective proprietary technologies to develop, design, build and operate a manufacturing facility for the continuous production of aluminum foam composite panels.

    Finally, Neovasc Inc. (TSE:NVC) shares plunged 38% to $0.85 after the specialty medical device company announced that the Federal District Court upheld a trial jury’s verdict in CardiAQ’s suit against Neovasc in May 2016. Neovasc has been ordered to pay US$70 million plus US$21 million in enhanced damages to that award.

    See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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    To find out more about GTA Resources and Mining, please visit the company’s Investor Hub.

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