Gold Explorer Shines on Discovery Speculation

Max Resource Corp. (TSXV:MXR), a gold explorer, continued to climb after announcing a potential new gold discovery

Sean Mason | February 8, 2019 | SmallCapPower

Speculators continued to gravitate towards shares of a gold explorer Friday following a potential discovery. Here’s some small stocks making big moves on Friday, February 8, 2019 (as of 4 pm EST):

Max Resource Corp. (TSXV:MXR) shares continued to move higher Friday, up 36% to $0.38, after the gold explorer announced on Wednesday that it “may well be on the cusp of a new gold discovery” after finding a gold-bearing conglomerate at its Choco Precious Metals Project in Colombia.

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As well, shares of SEMAFO Inc. (TSX:SMF) rose 5% to $2.98 as the gold miner said it expects 2019 consolidated production of between 390,000 and 430,000 ounces of gold, an increase of 68% from 2018, as well as an estimated 26% reduction in consolidated all-in sustaining cost for the year.

48North Cannabis Corp. (TSXV:NRTH) stock, meanwhile, continued to advance Friday, up 12% to $0.84 following a 4% gain on Thursday, after the cannabis company reported the closing of a $10 million private placement, $3 million of which was from Canopy Growth Corporation (TSX:WEED).

Max Resource Corp.(TSX.V:MXR) is a featured sponsored company and has paid a fee for coverage. To learn more, see our full disclosure HERE >>

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

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