Gold Junior Sinks on Drill Results

Sokoman Minerals Corp. (TSXV:SIC), a gold junior, fell after announcing results from its Moosehead Project

Sean Mason | October 24, 2019 | SmallCapPower

Out East drill results tarnished shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, October 24, 2019 (as of 4 pm EST):

Sokoman Minerals Corp. (TSXV:SIC) shares slid 15% to $0.055 on Thursday after the gold junior announced results of Phase 4 diamond drilling at its 100%-owned Moosehead Project in Newfoundland, which included 17.34 g/t gold over 6.40 metres.

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As well, shares of Mullen Group Ltd. (TSX:MTL) rose 5% to $7.90 as the supplier of trucking and logistics services said its third-quarter 2019 was the best quarterly results of this fiscal year and it is confident the Company will gain market share as its competition struggles within the current macro environment.

Zenabis Global Inc. (TSX:ZENA), meanwhile, reported that it intends to raise up to $20.8 million in a Rights Offering, with Zenabis insiders committing to acquire 30% of the common shares available. Zenabis Global stock dropped 40% to $0.295 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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