Gold Explorer Moves Higher on Resource Update

Osisko Mining Inc. (TSX:OSK), a gold explorer, moved up after announcing an updated resource estimate for its Windfall gold deposit

Sean Mason | February 20, 2020 | SmallCapPower

A big resource increase boosted shares of a gold explorer Thursday. Here’s some small stocks making big moves on Thursday, February 20, 2020 (as of 4 pm EST):

Osisko Mining Inc. (TSX:OSK) shares climbed 5% to $3.89 on Thursday after the gold explorer announced an updated mineral resource estimate for its 100% owned Windfall gold deposit in Québec, which showed a 60% increase in the Indicated resource estimate along with an Inferred mineral resource estimate that rose 66%.

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As well, shares of MediPharm Labs Corp. (TSX:LABS) gained 3% to $3.14 as the cannabis extraction company said Shoppers Drug Mart has selected its wholly-owned subsidiary to supply cannabis concentrate products to medical patients nationally in Canada through its online platform.

CEMATRIX Corporation (TSXV:CVX), meanwhile, reported that it has been awarded a new U.S. infrastructure project with a value in excess of C$15.7 million. CEMATRIX stock moved up 15% to $0.54 following the announcement.

Finally, Amerigo Resources Ltd. (TSX:ARG) shares slid 13% to $0.405 after the junior copper miner announced that it swung to a Fiscal 2019 net loss of US$9.4 million from a profit of US$10.5 million during 2018.

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

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