Gold Explorer Rises on Exploration Start

First Mexican Gold Corp. (TSXV:FMG), a gold explorer, after announcing that exploration has begun at the Golden Giant project

Sean Mason | June 10, 2020 | SmallCapPower

Exploration in an active area of Quebec generated interest in shares of a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, June 10, 2020 (as of 4 pm EST):

First Mexican Gold Corp. (TSXV:FMG) shares climbed 28% to $0.34 on Wednesday after the gold explorer announced that exploration (reconnaissance prospecting and geological mapping) has begun at the Golden Giant project located in the James Bay Lowlands area of Quebec, which is immediately contiguous with Azimut Exploration Inc.’s Elmer project.

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As well, shares of Galaxy Digital Holdings Ltd. (TSXV:GLXY) gained 13% to $1.99 as the financial services and investment management company specializing in digital asset, cryptocurrency and blockchain technology said it is partnering with digital asset derivatives trading and custody platform Bakkt to launch a white-glove service for asset managers looking to acquire, build positions in and store Bitcoin.

Omineca Mining and Metals Ltd. (TSXV:OMM), meanwhile, reported that it has initiated field work at the Wingdam hard-rock gold project in the Cariboo Mining District of British Columbia. Omineca Mining and Metals stock moved up 20% to $0.30 following the announcement.

Finally, Osprey Gold Development Ltd. (TSXV:OS) shares added 30% at $0.065 after the junior explorer announced that it has agreed to be acquired by MegumaGold Corp. in an all-stock transaction. Osprey shareholders will receive one Meguma share for every two Osprey shares held.

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

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