Gold Junior Surges on Big Sprott Investment

Published:

Erdene Resource Development Corporation (TSX:ERD), a gold junior, soared after announcing a $15 million investment from Eric Sprott

Sean Mason | July 24, 2020 | SmallCapPower

A significant investment by Eric Sprott powered shares of a gold junior Friday. Here’s some small stocks making big moves on Friday, July 24, 2020 (as of 4 pm EST):

Erdene Resource Development Corporation (TSX:ERD) shares climbed 20% to $0.60 on Friday after the gold junior announced a $15 million investment from Eric Sprott via a non-brokered private placement at a price of $0.45 per unit.

Win Big With Our Small Cap Picks

 

As well, shares of Sierra Wireless (TSX:SW) jumped 18% to $15.09 as the IoT solutions provider said it has agreed to divest its Shenzhen, China-based automotive embedded module product line in consideration for US$165 million in cash.

Theratechnologies Inc. (TSX:TH), meanwhile, reported new data that the Company said further supports the potential role of tesamorelin in the treatment of HIV-associated nonalcoholic steatohepatitis. Theratechnologies stock moved up 12% to $3.35 following the announcement.

Finally, Discovery Metals Corp. (TSXV:DSV) shares gained 27% to $1.68 after the silver explorer announced a $15 million investment from Eric Sprott via a non-brokered private placement at a price of C$1.35 per unit. Mr. Sprott called Discovery Metals “one of my largest investments in the silver space.”

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

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below:

Related articles

Recent articles