Gold Junior Shines on Settlement Agreement

Rusoro Mining Ltd. (TSXV:RML), a gold junior, continued to gain ground after Venezuela agrees to pay Rusoro more than US$1.28 billion

Sean Mason | October 12, 2018 | SmallCapPower

A potential billion-dollar settlement caused quite a stir among speculators in a gold junior Friday. Here’s some small stocks making big moves on Friday, October 12, 2018 (as of 4 pm EST):

Rusoro Mining Ltd. (TSXV:RML) shares continued to move higher Friday, up 10% to $0.22 following a 67% gain on Thursday, after the gold junior announced that it has agreed on the terms of a settlement proposal by which Venezuela agrees to pay Rusoro more than US$1.28 billion to acquire the Company’s mining data and for full release of the arbitral award issued in favour of the Company in August 2016 by a tribunal.

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As well, shares of Endeavour Silver Corp. (TSX:EDR) slipped 3% to $3.13 as the precious metals miner said it estimates a 5% production shortfall to its 2018 consolidated production guidance, due to the delayed commercial production at El Compas, lower gold grades at Bolañitos and lower mine output at Guanaceví.

LGC Capital Ltd. (TSXV:LG), meanwhile, reported that Viridi Unit SA of Switzerland has begun harvesting 20,000 plants growing at its Geneva cannabis cultivation facility, consisting of 108,000 square feet of canopy. LGC is set to acquire a 30% interest in Viridi and a 5% royalty on Viridi’s net sales. LGC Capital stock moved up 9% to $0.19 following the announcement.

Finally, Photon Control Inc. (TSX:PHO) shares rose 8% to $1.71 after the provider of optical measurement technologies announced that it has transitioned three new products to the final pre-production release step in its New Product Introduction process.

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

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