Gold Explorer Climbs on Drill Results

Awalé Resources Limited (TSXV:ARIC), a gold explorer, surged after announcing initial drill results from the Odienné Gold Project

Sean Mason | November 19, 2019 | SmallCapPower

More than a few speculators took a shine to near-surface drill results from a gold explorer Tuesday. Here’s some small stocks making big moves on Tuesday, November 19, 2019 (as of 4 pm EST):

Awalé Resources Limited (TSXV:ARIC) shares jumped 67% to $0.125 on Tuesday after the gold explorer announced initial drill results from the first two holes of its planned 2,500 metre drill program at the Odienné Gold Project in Cote d’Ivoire, which included 18.15 metres of 4.9 grams per tonne (g/t) gold from 40 metres downhole.

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As well, shares of PetroTal Corp. (TSXV:TAL) slipped 11% to $0.375 as the oil and gas producer said it incorrectly stated its cash and cash equivalents position as approximately $40 million at September 30, 2019, when it was actually $20.5 million.

The Green Organic Dutchman Holdings Ltd. (TSX:TGOD), meanwhile, reported that it has received orders from Alberta, Manitoba and Nova Scotia, gaining access to 340 additional retail locations outside Ontario. Green Organic Dutchman stock moved up 12% to $0.73 following the announcement.

Finally, African Gold Group, Inc. (TSXV:AGG) shares continued to move higher Tuesday, up 15% to $0.38, following an 8% gain on Monday, after the gold junior announced that the latest results from the Kobada gold project in Mali show good correlation to the existing 2016 Feasibility Study, and in two of the three holes analyzed to date there were “better intersections in the upper parts of the orebody.”

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

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