Velocity Minerals Ltd. (CVE:VLC), a gold explorer, glistered after announcing assay results from its Rozino gold project in Bulgaria
Sean Mason | August 21, 2017 | SmallCapPower
Gold assay results generated a bit of buying interest in shares of a gold explorer Monday. Here’s some small stocks making big moves on Monday, August 21, 2017 (as of 4 pm EST):
Velocity Minerals Ltd. (TSXV: VLC) shares surged 24% to $0.335 on Monday after the gold explorer announced that it has received assay results for the first two drill holes at its Rozino gold project in Bulgaria, which included 74 meters of 2.35 g/t gold.
As well, shares of Cardiome Pharma Corp. (TSX: COM) sank 35% to $3.26 as the specialty pharmaceutical company said it has received a response from the U.S. Food and Drug Administration (FDA) regarding the regulatory path for BRINAVESS, Cardiome’s antiarrhythmic drug for the rapid conversion of recent onset atrial fibrillation. In its written reply, the FDA advised Cardiome that the data package proposed by the Company would not be sufficient to support a resubmission of the New Drug Application.
Transat A.T. Inc. (TSX: TRZ), meanwhile, reported that it has revised its outlook and is preparing to announce results for the third quarter of 2017, ended July 31, that are “substantially better,” according to the Company, than those factored into its most recent outlook, which was published on June 8, 2017. Transat A.T. stock moved up 11% to $8.84 following the announcement.
Finally, Noront Resources Ltd. (TSXV: NOT) shares powered 26% higher to $0.415 after the resource junior revealed that the Province of Ontario has formally committed provincial funding to two First Nations road proposals that will provide community and industrial access to the Ring of Fire Mining District.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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