Gold Junior Jumps on Assay Results

Galway Metals Inc. (TSXV:GWM), a gold junior, powered higher after announcing assays from its Clarence Stream Gold Project in New Brunswick

Sean Mason | February 13, 2019 | SmallCapPower

Glistering drill results attracted the attention of more than a few speculators to a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, February 13, 2019 (as of 4 pm EST):

Galway Metals Inc. (TSXV:GWM) shares surged 42% to $0.39 on Wednesday after the gold junior announced first assays from the new gold discovery at its Clarence Stream Gold Project in New Brunswick, which included 7.3 g/t gold over 36.7 metres.

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As well, shares of Nemaska Lithium Inc. (TSX:NMX) sank 36% to $0.355 as the lithium junior said it estimates that additional net funds of about C$375 million would be required to complete construction of the Whabouchi project in Quebec and meet the drawdown conditions provided in the streaming agreement with Orion Mine Finance. As of February 8, 2019, Nemaska Lithium has C$335 million in unrestricted cash and cash equivalents.

CardioComm Solutions, Inc. (TSXV:EKG), meanwhile, reported that it has entered into a device technology relationship for the co-marketing and U.S. sales of a Smartphone connected 12 lead ECG wearable device. CardioComm Solutions stock moved up 40% to $0.07 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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