Gold Junior Shines on Licenses Update

Novo Resources Corp. (TSXV:NVO), a gold junior, gained ground after finalizing the acquisition of Australian exploration licenses

Sean Mason | March 24, 2020 | SmallCapPower

Down Under exploration licenses sparked speculation in shares of a gold junior Tuesday. Here’s some small stocks making big moves on Tuesday, March 24, 2020 (as of 4 pm EST):

Novo Resources Corp. (TSXV:NVO) shares climbed 19% to $1.92 on Tuesday after the gold junior announced that it has finalized the acquisition of a 100% interest in exploration licenses E47/1745 and E47/3443 from Artemis Resources Limited and certain Artemis joint venture partners and dissolved the remaining Novo-Artemis joint ventures.

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As well, shares of 48North Cannabis Corp. (TSXV:NRTH) powered 71% higher to $0.145 as the Canadian cannabis company said it expects to announce additional contract manufacturing partnerships at fume labs and during the third quarter of this year it expects initial revenues from its extraction facility.

Drone Delivery Canada Corp. (TSXV:FLT), meanwhile, reported that the DSV Air & Sea Inc. Canada project is now commercially operational. Drone Delivery Canada stock popped 12% to $0.58 following the announcement.

Finally, Nicola Mining Inc. (TSXV:NIM) shares gained 25% to $0.075 after the junior explorer announced results of the final two drill holes of the 2019 diamond drill hole program at the Company’s wholly-owned New Craigmont Copper Project in British Columbia. All holes of the 2019 Drill Program intersected copper mineralization and the drill holes intersected skarn-type mineralization typical of the historical mine and, for the first time, mineralization with porphyry-style characteristics.  

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

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