Gold Explorer Shines on Visible Gold Intercept

Mako Mining Corp. (TSXV:MKO), a gold explorer, jumped after announcing drill results from its San Albino-Murra property in Nicaragua

Sean Mason | May 7, 2019 | SmallCapPower

High-grade visible gold attracted a few speculators to shares of a gold explorer Tuesday. Here’s some small stocks making big moves on Tuesday, May 7, 2019 (as of 4 pm EST):

Mako Mining Corp. (TSXV:MKO) shares climbed 20% to $0.12 on Tuesday after the gold explorer announced drill results from the Las Conchitas area on its wholly-owned San Albino-Murra property in Nicaragua, which included an intercept of 376.49 g/t gold over one metre containing visible gold.

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As well, shares of IAMGOLD Corporation (TSX:IMG) slipped 13% to $3.41 as the gold miner revealed its first-quarter financial results that fell short of analyst expectations, as the Company’s all-in sustaining costs per ounce of gold sold increase to US$1,086 from $953 during the same period last year.

Harte Gold Corp. (TSX:HRT), meanwhile, reported that it has received approval to increase its operational throughput from 540 tonnes per day to 800 tpd, which could  increase gold production at minimal cost from 41,000 ounces to 65,000 ounces per year. The Company added that it has refinanced its existing debt, which includes an equity investment of US$10.0 million at $0.27 per share provided by Appian Natural Resources Fund. Harte Gold stock moved up 10% to $0.27 following the announcement.

Finally, Victoria Gold Corp. (TSXV:VIT) shares rose 13% to $0.445 after the gold junior announced that construction at its Eagle Gold Mine in the Yukon is more than 90% complete and the Company is currently targeting a first gold pour early in Q4 2019.

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

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