Gold Junior Soars on Assay Results

Granada Gold Mine Inc. (TSXV:GGM), a gold junior, jumped after announcing results from its Granada gold deposit

Sean Mason | January 9, 2020 | SmallCapPower

More than a few speculators took a shine to drill results from a Quebec gold junior Thursday. Here’s some small stocks making big moves on Thursday, January 9, 2020 (as of 4 pm EST):

Granada Gold Mine Inc. (TSXV:GGM) shares surged 63% to $0.195 on Thursday after the gold junior announced assays results from the last hole in the latest drill program at its 100%-owned Granada gold deposit in Quebec, which included 11.45 grams per tonne (g/t) gold over 33 metres.

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As well, shares of Jaguar Mining Inc. (TSX:JAG) jumped 10% to $0.215 as the junior gold miner said Eric Sprott recently purchased $7 million worth of the Company’s stock at a price of $0.18 per share via a block trade arrangement with a single vendor. As a result of this transaction, Mr. Sprott beneficially owns and controls approximately 48.9% of Jaguar Mining’s outstanding shares.

Harte Gold Corp. (TSX:HRT), meanwhile, reported preliminary production results of 8,017 gold ounces for the fourth quarter of 2019, a 32% increase over Q3. The Company added that it expects to produce 42,000 to 48,000 ounces of gold during 2020, which would represent an increase of 54% to 76% from 2019. Harte Gold stock moved up 10% to $0.17 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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