Gold Explorer Glisters on Porphyry Discovery

Tethyan Resource Corp. (TSXV:TETH), a gold explorer, climbed after announcing the discovery of a gold porphyry system on the Kremice project

Sean Mason | October 9, 2019 | SmallCapPower

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.

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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.

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

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