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.

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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.

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

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