Gold Explorer Powers Up on Geological Data

Melkior Resources Inc. (TSXV:MKR), a gold explorer, gained ground after completing the first phase of Leapfrog Drill database processing at its Carscallen project

Sean Mason | June 26, 2020 | SmallCapPower

A potentially high-grade gold system attracted speculators to shares of a gold explorer Friday. Here’s some small stocks making big moves on Friday, June 26, 2020 (as of 4 pm EST):

Melkior Resources Inc. (TSXV:MKR) shares climbed 24% to $0.94 on Friday after the gold explorer announced that it has completed the first phase of Leapfrog Drill database processing at its Carscallen project in northern Ontario, which the Company believes outlines the potential of a high-grade gold system that currently has 800 meters of potential strike and is open in all directions.

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As well, shares of Corus Entertainment Inc. (TSX:CJR.B) fell 17% to $2.92 as the Canadian media company said its third-quarter revenue dropped 24% to $349 million, missing analyst expectations, while swinging to a net loss of $752.3 million from a profit of $66.4 million during the same period last year.

Profound Medical Corp. (TSX:PRN) stock, meanwhile, moved up 15% to $22.22 after Raymond James analyst Rahul Sarugaser raised his target price to $38 per share from $35 while maintaining a “Strong Buy” rating on the stock, estimating “revenue without reimbursement of $9.8 million, $26.1 million, and $61.0 million during 2020, 2021, and 2022, respectively.”

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

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