Exploration Stock Climbs on Drill Program Start

Casa Minerals Inc. (TSXV:CASA), an exploration stock, moved up after beginning the inaugural drilling program on its Pitman property

Sean Mason | August 27, 2019 | SmallCapPower

A first drill program beginning provided a big boost to a precious metals exploration stock Tuesday. Here’s some small stocks making big moves on Tuesday, August 27, 2019 (as of 4 pm EST):

Casa Minerals Inc. (TSXV:CASA), an exploration stock, jumped 68% to $0.16 on Tuesday after announcing that it has begun the inaugural drilling program on its 100%-owned Pitman property in British Columbia. Previous exploration results included a one-metre chip sample that assayed 574.42 g/t gold and 109 g/t silver.

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As well, shares of Antibe Therapeutics Inc. (TSXV:ATE) slid 16% to $0.355 as the biopharma company said enrollment of the last patient for its clinical trial to determine the efficacy of its lead drug ATB-346, involving patients with osteoarthritis of the knee, has been delayed from late calendar Q3 2019 to Q4 2019, which the Company attributed to its rigorous screening discipline and a temporary slowdown in patient recruitment due to the summer holiday period.

Karmin Exploration Inc. (TSXV:KAR), meanwhile, reported that it has agreed to be acquired by Nexa Resources S.A. (TSX:NEXA) for US$0.77 (C$1.02) per share in cash, or a total consideration of approximately US$69.3 million. Karmin Exploration stock popped 25% to $1 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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