Gold Explorer Surges on Drill Results

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Rupert Resources Ltd. (TSXV:RUP), a gold explorer, climbed after announcing results from its Pahtavaara Project

Sean Mason | May 12, 2020 | SmallCapPower

Near-surface assay results attracted a few speculators to shares of a gold explorer Tuesday. Here’s some small stocks making big moves on Tuesday, May 12, 2020 (as of 4 pm EST):

Rupert Resources Ltd. (TSXV:RUP) shares powered 45% higher to $1.26 on Tuesday after the gold explorer announced results from the ongoing exploration program at its 100% owned Pahtavaara Project in Finland, which included 137.2 metres grading 1.8 grams per tonne (g/t) gold from 10.8 metres.

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As well, shares of Pinnacle Renewable Energy (TSX:PL) sank 33% to $4.49 as the industrial wood pellet manufacturer said its first-quarter 2020 Adjusted EBITDA fell to $4.0 million from $7.1 million during the same period last year, adding that it plans to cut its dividend to an annual level of $0.15 per common share.

Neptune Wellness Solutions Inc. (TSX:NEPT), meanwhile, reported the launch of Neptune Air, a non-contact infrared thermometer optimized for measuring a person’s temperature while reducing cross-contamination risk and minimizing the risk of spreading disease. Neptune Wellness Solutions stock moved up 7% to $3.61 following the announcement.

Finally, InMed Pharmaceuticals Inc. (TSX:IN) shares jumped 36% to $0.34 after the clinical-stage pharmaceutical company announced that it has filed a Patent Cooperation Treaty application pertaining to the potential of cannabinoids in the prevention of neuron damage associated with glaucoma.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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