Gold Explorer Surges on Drill Results

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.

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

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