Gold Explorer Shines on Visible Gold Discovery

Apex Resources Inc. (TSXV:APX), a gold explorer, jumped after observing visible gold at its Ore Hill project

Sean Mason | October 31, 2019 | SmallCapPower

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.

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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.

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

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