High-grade drill results sparked interest in shares of a gold explorer Monday. Here’s some small stocks making big moves on Monday, January 20, 2020 (as of 4 pm EST):
QMX Gold Corporation (TSXV:QMX) shares jumped 14% to $0.12 on Monday after the gold explorer announced the latest results on its Bonnefond deposit in Quebec, which included 41.82 g/t gold over 3.4 metres.
As well, shares of Marathon Gold Corporation (TSX:MOZ) eased 3% to $1.51 as the gold junior revealed an updated Mineral Resource Estimate for the Valentine Gold Project in Newfoundland, which showed a 15% increase in its Measured & Indicated resource to 3.09 million ounces (at 1.75 g/t gold), while its Inferred resource decreased 37% to 0.96 million ounces (at 1.78 g/t gold).
Granite Oil Corp. (TSX:GXO), meanwhile, reported that it has agreed to be acquired by International Petroleum Corporation (TSX:IPCO) for $0.95 per share in cash, or a total consideration of approximately $79.7 million including the assumption Granite’s net debt and transaction costs. Granite Oil stock popped 58% to $0.93 following the announcement.
Finally, InMed Pharmaceuticals Inc. (TSX:IN) shares surged 25% to $0.375 after the biopharmaceutical company announced the rare cannabinoid cannabinol (CBN) as the active pharmaceutical ingredient in its two product candidates under development: INM-755 for epidermolysis bullosa and INM-088 for glaucoma.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
QMX Gold Corporation (TSXV:QMX) shares jumped 14% to $0.12 on Monday after the gold explorer announced the latest results on its Bonnefond deposit in Quebec, which included 41.82 g/t gold over 3.4 metres.
, on Monday.){kind=link}