Gold Junior Surges on Big Sprott Investment

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.

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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.”

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

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