Ontario gold drill results generated a bit of buying in shares of a gold junior Monday. Here’s some small stocks making big moves on Monday, November 5, 2018 (as of 4 pm EST):
Signature Resources Ltd. (TSXV:SGU) shares climbed 10% to $0.11 on Monday after the gold junior announced drill results from the West Zone at its Lingman Lake gold property in Ontario, which included 9.50 meters with an average grade of 12.15 grams per tonne (g/t) gold (from 35.5 to 45.0 meters).
As well, shares of Zargon Oil & Gas Ltd. (TSX:ZAR) slipped 16% to $0.135, following a 6% loss on Friday, as the oil and natural gas company said it has entered into a financing agreement for a US$3.5 million term debt, at an interest rate of 11%, with private investment funds advised by JGB Capital Management, LP. The proceeds of the financing will be utilized for low-risk oil exploitation capital projects and general corporate purposes.
InMed Pharmaceuticals Inc. (TSX:IN), meanwhile, reported the appointment of Michael Woudenberg, P.Eng., as Vice President, Chemistry, Manufacturing, and Controls (CMC). InMed is a cannabinoid-based biopharmaceutical company. InMed Pharmaceuticals stock moved up 18% to $0.73 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Signature Resources Ltd. (TSXV:SGU) shares climbed 10% to $0.11 on Monday after the gold junior announced drill results from the West Zone at its Lingman Lake gold property in Ontario, which included 9.50 meters with an average grade of 12.15 grams per tonne (g/t) gold (from 35.5 to 45.0 meters).
