Gold Junior Glisters Following Drill Results

Erdene Resource Development Corp. (TSX:ERD), a gold junior, surged after announcing drill results from its Bayan Khundii Gold Project in Mongolia

Sean Mason | January 10, 2018 | SmallCapPower

Multiple, high-grade gold intersections generated a bit of excitement in shares of a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, January 10, 2018 (as of 4 pm EST):

Erdene Resource Development Corp. (TSX:ERD) shares jumped 18% to $0.58 on Wednesday after the gold junior announced drill results from its 100%-owned Bayan Khundii Gold Project in Mongolia, which included 25 metres of 5.8 g/t gold within a 127.5 metre interval of 1.8 g/t gold.

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As well, shares of Klondex Mines Ltd. (TSX:KDX) slipped 12% to $2.62 as the gold miner said the preliminary full-year 2017 gold ounce production from its True North mine in Manitoba is estimated to be approximately 24,000 to 27,000 ounces, which is less than its previous guidance of 35,000 to 45,000 ounces.

Global Blockchain Technologies Corp. (TSXV:BLOC), meanwhile, reported that it is the lead investor with a US$2.0 million investment into the Kodak Coin, a compliant and fully-registered Initial Coin Offering (ICO). Global Blockchain stock popped 48% to $2.25 following the announcement.

Finally, Maple Leaf Green World Inc. (TSXV:MGW) shares powered 20% higher to $1.50 after the cannabis company announced that it has signed a contract with Rethinking Construction to complete the build of its proposed cannabis cultivation facility located in Telkwa, British Columbia.

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

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