Gold Junior Climbs on Drill Permit Announcement

Precipitate Gold Corp. (TSXV:PRG), a gold junior, gained ground after receiving a government-issued drill permit for its Pueblo Grande Project

Sean Mason | September 18, 2019 | SmallCapPower

Pending drilling near a Major’s mine sparked interest in shares of a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, September 18, 2019 (as of 4 pm EST):

Precipitate Gold Corp. (TSXV:PRG) shares jumped 27% to $0.14 on Wednesday after the gold junior announced receipt of the government-issued permit for diamond drill testing within the Loma Cuaba Lithocap Zone at its 100% owned Pueblo Grande Project in the Dominican Republic. Pueblo Grande is adjacent to Barrick Gold’s Pueblo Viejo gold-silver mine, which produced 581,000 ounces of gold in 2018.

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As well, shares of CannTrust Holdings Inc. (TSX:TRST) continued to trend lower Wednesday, down as much as 12% before closing up 1% following a 15% loss on Tuesday, as the Canadian cannabis company said Health Canada has suspended its cannabis sales license.

Sirona Biochem Corp. (TSXV:SBM), meanwhile, reported that it has completed a definitive agreement with Rodan + Fields, LLC for the licensing and commercial sales of Sirona’s ingredient TFC-1067 to brighten and even skin tone. Under the terms of the agreement, Sirona will receive an upfront and milestone payments as well as on-going revenue in return for the manufacture and supply of TFC-1067. Sirona Biochem stock moved up 9% to $0.475 following the announcement.

Finally, Luckystrike Resources Ltd. (TSXV:LUKY) shares sank 46% to $0.06 after the gold explorer announced results of its 2019 diamond drill program on the Lucky Strike Property in the Yukon’s White Gold District, which included 0.10 g/t gold over 67.0 metres.

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

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