Copper Junior Shines on Drill Announcement

Kincora Copper Ltd. (TSXV:KCC), a copper junior, climbed after announcing that drilling has begun at its Bronze Fox porphyry project in Mongolia

Sean Mason | June 27, 2019 | SmallCapPower

Drilling initiation in Mongolia sparked a bit of speculation in shares of a copper junior Thursday. Here’s some small stocks making big moves on Thursday, June 27, 2019 (as of 4 pm EST):

Kincora Copper Ltd. (TSXV:KCC) shares continued to move higher Thursday, up 14% to $0.12 following a 17% gain on Wednesday, after the copper junior announced that drilling has begun at its 100% owned Bronze Fox copper-gold porphyry project in Mongolia.

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As well, shares of Aleafia Health Inc. (TSX:ALEF) (OTC:ALEAF) jumped 12% to $1.38 as the medical cannabis company said it has closed its previously-announced public offering of convertible debenture units of the Company for total gross proceeds of $40.25 million, which Aleafia asserts will accelerate the expansion of its cannabis health and wellness ecosystem in Canada and globally. Aleafia Health stock has advanced more than 42% during the past two trading sessions.

Fura Gems Inc. (TSXV:FURA), meanwhile, reported that it has entered into an option agreement to acquire a sapphire mining project in Queensland, Australia, which comprises of 100% interests in two mining permits and three mining licenses. Fura Gems stock popped 10% to $0.16 following the announcement.

Finally, Largo Resources Ltd. (TSX:LGO) shares slipped 5% to $1.71 after the vanadium miner announced that it will not be returning capital to shareholders at this time in response to a variety of factors, including a lower vanadium price environment as well as anticipated working capital requirements for its new sales and trading business.

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