Gold Junior Slides on Drill Results

Goldsource Mines Inc. (TSXV:GXS), a gold junior, eased after announcing results from new diamond drilling at the Eagle Mountain Gold Project

Sean Mason | March 6, 2019 | SmallCapPower

Guyana drill results from a gold junior didn’t meet the expectations of a few speculators Wednesday. Here’s some small stocks making big moves on Wednesday, March 6, 2019 (as of 4 pm EST):

Goldsource Mines Inc. (TSXV:GXS) shares fell 12% to $0.145 on Wednesday after the gold junior announced results from new diamond drilling at the Eagle Mountain Gold Project in Guyana, which included 49.5 metres (est. drilled width) grading 2.90 grams per tonne gold.

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As well, shares of NuVista Energy Ltd. (TSX:NVA) rose 3% to $4.38 as the oil and natural gas company said its full-year 2018 production was a record 40,350 Boe/d, representing a 35% year-over-year increase.

Stuart Olson Inc. (TSX:SOX), meanwhile, reported that it is slashing its quarterly dividend to $0.06 per common share, citing increased competition and a significant spending slowdown across its key Western Canadian markets due to historically wide oil price differentials. Stuart Olson stock dropped 15% to $4.67 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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