Gold Junior Shines on Discovery Announcement

RNC Minerals (TSX:RNX), a gold junior, surged after announcing what it called another “high-grade gold discovery”

Sean Mason | June 6, 2019 | SmallCapPower

Another potentially high-grade gold discovery powered shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, June 6, 2019 (as of 4 pm EST):

RNC Minerals (TSX:RNX) shares jumped 23% to $0.51 on Thursday after the gold junior announced what it called another “high-grade gold discovery” at its Beta Hunt Mine in Western Australia, where the Company recovered an estimated 987 ounces of coarse gold in 238 kg of rock from a series of veins on the level beneath the Father’s Day Vein discovery.

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As well, shares of Millennial Lithium Corp. (TSXV:ML) rose 7% to $1.65 as the lithium junior said it has submitted its Environmental Impact Assessment to the Environmental and Mining Authority in Salta Province, Argentina, for the construction and operations for its Pastos Grandes Project.

Los Andes Copper Ltd. (TSXV:LA), meanwhile, reported results of an updated Preliminary Economic Assessment (PEA) for its 100%-owned Vizcachitas Project in Chile, which showed an After-Tax NPV8% of US$1.8 billion, an IRR of 20.77% and a payback period of 3.4 years. Los Andes Copper stock moved up 17% to $0.35 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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