An Eastern European porphyry find attracted more than a few speculators to shares of a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, October 9, 2019 (as of 4 pm EST):
Tethyan Resource Corp. (TSXV:TETH) shares jumped 11% to $0.20 on Wednesday after the gold explorer announced the discovery of an outcropping gold porphyry system on the Kremice project in Serbia, with individual samples grading up to 0.68 grams per tonne (g/t) gold and 0.21% copper.
As well, shares of The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) sank 17% to $1.43 as the Canadian cannabis company said it is reviewing financing alternatives in order to complete construction at its facilities in Ancaster, Ontario and Phase 1a at Valleyfield, Quebec, as due to changing market conditions those sources of financing have been unavailable on acceptable terms within the timeframes required.
Gatekeeper Systems Inc. (TSXV:GSI), meanwhile, reported that its wholly-owned subsidiary, Gatekeeper Systems USA Inc., has been contracted by Southeastern Pennsylvania Transit Authority to supply and install digital video recorders on SEPTA vehicles and trains, in a contract valued at about C$6.3 million. Gatekeeper Systems stock moved up 16% to $0.18 following the announcement.
Finally, Zenith Energy Ltd. (TSXV:ZEE) shares rose 63% to $0.065 after the oil & gas production company announced that well C-37 in the Jafarli oilfield in Azerbaijan recorded a production rate of approximately 285 barrels of oil per day. The Company added that C-37 is expected to generate yearly revenue of approximately US$5.5 million.
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.