Gold Explorer Shines on New Discovery Zone

White Metal Resources Corp. (TSXV:WHM), a gold explorer, announcing that it has discovered a new sulphide-mineralized area on the Gunners Cove Gold Project

Sean Mason | July 11, 2018 | SmallCapPower

A new sulphide-mineralized area sparked a bit of speculation in a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, July 11, 2018 (as of 4 pm EST):

White Metal Resources Corp. (TSXV:WHM) shares climbed 42% to $0.17 on Wednesday after the gold explorer announced that it has discovered a new sulphide-mineralized area on the Gunners Cove Gold Project in Newfoundland. The Company added that evidence to date suggests the Gunners Cove Gold Project represents an extensive and new unexplored gold system that it has traced intermittently for about 18 kilometres along strike and is locally up to 1.3 kilometres wide.

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As well, shares of WeedMD Inc. (TSXV:WMD) slid 16% to $1.72 as the medical cannabis producer said its previously-announced merger with Hiku Brands Company Ltd. has been terminated after Hiku agreed to be acquired by Canopy Growth Corp. WeedMD will receive a $10 million termination fee.

RepliCel Life Sciences Inc. (TSXV:RP), meanwhile, reported that it has signed definitive agreements with YOFOTO (China) Health Industry Co. Ltd., in which RepliCel’s skin rejuvenation and tendon regeneration products will be commercialized in Greater China. RepliCel Life Sciences stock popped 60% to $0.56 following the announcement.

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

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