Visible gold was a welcome sight for shareholders of a gold explorer Thursday. Here’s some small stocks making big moves on Thursday, October 31, 2019 (as of 4 pm EST):
Apex Resources Inc. (TSXV:APX) shares climbed 29% to $0.09 on Thursday after the gold explorer announced that visible gold has been observed in the initial two diamond drill holes completed at its Ore Hill gold project in British Columbia.
As well, shares of Serengeti Resources Inc. (TSXV:SIR) slid 31% to $0.155 as the junior explorer said it is not in a position to complete the Prefeasibility Study on its 65%-owned Kwanika copper-gold project in British Columbia due to lack of funding and instead will focus on completing an Interim Study Report.
Intrinsyc Technologies Corporation (TSX:ITC), meanwhile, reported that it has agreed to be acquired by Lantronix, Inc. (NASDAQ:LTRX) in a cash-and-stock transaction valued approximately US$27 million. Intrinsyc shareholders will receive US$0.55 in cash plus 0.2135 of a Lantronix share for each common share of Intrinsyc held. Intrinsyc Technologies stock popped 15% to $1.55 following the announcement.
Finally, Valens GroWorks Corp. (TSXV:VGW) shares rose 2% to $2.73 after the cannabis extraction company announced a multi-year, white-label agreement with BRNT Ltd. to launch a line of cannabis vape pens in Canada, with gross revenue potential to Valens of more than $50 million during the first two years.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Apex Resources Inc. (TSXV:APX) shares climbed 29% to $0.09 on Thursday after the gold explorer announced that visible gold has been observed in the initial two diamond drill holes completed at its Ore Hill gold project in British Columbia.
