Gold Junior Moves Higher on Financing News

Victoria Gold Corp. (TSXV:VIT), a gold junior, climbed after announcing that it has entered into documentation for a C$505 million mine construction financing package

Sean Mason | March 8, 2018 | SmallCapPower

A big-money mine financing package powered shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, March 8, 2018 (as of 4 pm EST):

Victoria Gold Corp. (TSXV:VIT) shares gained 12% to $0.42 on Thursday after the gold junior announced that it has entered into documentation with Orion Mine Finance, Osisko Gold Royalties Ltd and Caterpillar Financial Services Limited with respect to a construction financing package totaling approximately C$505 million that will fully fund the development of the Eagle Gold project in the Yukon through to commercial production.

Win Big With Our Small Cap Picks


As well, shares of CEMATRIX Corporation (TSXV:CVX) slipped 8% to $0.24 as the cellular concrete products manufacturer said it experienced a 98% decline in sales from its oil and gas construction market in 2107.

Euro Sun Mining Inc. (TSX:ESM), meanwhile, reported that it is aware that the Secretary General of Government for the Government of Romania has published a notice on their website pertaining to the procedure for ratification of the mining license for the Rovina Valley Project located in Romania. Euro Sun Mining stock moved up 9% to $1.60 following the announcement.

Finally, Source Energy Services Ltd. (TSX:SHLE) shares rose 11% to $6.20 after the frac sand producer announced that it has entered into an agreement with a multinational exploration and production company, whereby Source will provide substantial volumes of Northern White frac sand under a firm, long-term, fixed price agreement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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: