Gold Junior Shines on Resource Estimate

TomaGold Corporation (TSXV:LOT), a gold junior, climbed after announcing that IAMGOLD Corporation released results of the first mineral resource estimate for the Monster Lake joint venture project

Sean Mason | March 28, 2018 | SmallCapPower

A resource with ‘monster’ grades sent a few speculators running to buy shares of a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, March 28, 2018 (as of 4 pm EST):

TomaGold Corporation (TSXV:LOT) shares jumped 25% to $0.075 on Wednesday after the gold junior announced that its joint-venture partner, IAMGOLD Corporation, released results of the first mineral resource estimate for the Monster Lake joint venture project (TomaGold owns 45%) in Quebec, which showed an Inferred resource of 1,109,700 tonnes averaging 12.14 grams per tonne (g/t) gold for 433,300 ounces of contained gold.

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As well, shares of GoldQuest Mining Corp. (TSXV:GQC) slid 33% to $0.195 as the gold explorer said a court ruling in the Dominican Republic requires the Company to suspend its activities at the Romero Project until certain certificates and licenses are issued.

Badger Daylighting Ltd. (TSX:BAD), meanwhile, reported a fiscal 2017 net profit that surged to $65.9 million from $28.9 million in 2016. The Company also increased its annual dividend by 18% to $0.54 per common share. Badger Daylighting stock moved up 12% to $25.99 following the announcement.

Finally, Patriot One Technologies Inc. (TSXV:PAT) shares climbed 10% to $1.71 after the concealed weapons detection system manufacturer announced that it has advanced to Stage-3 active testing and research of the PATSCAN CMR concealed weapons detection solution in real-world environments.

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

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