Gold Junior Jumps on Visible Gold Vein

Galway Metals Inc. (TSXV:GWM), a gold junior, climbed after announcing that “abundant Visible Gold” can be seen in one of its drill holes

Sean Mason | July 29, 2020 | SmallCapPower

A few speculators took a shine to shares of a gold junior Wednesday following a new vein containing visible gold. Here’s some small stocks making big moves on Wednesday, July 29, 2020 (as of 4 pm EST):

Galway Metals Inc. (TSXV:GWM) shares surged 21% to $1.42 on Wednesday after the gold junior announced that “abundant Visible Gold” can be seen in one of its drill holes, which is 14.4 metres in core length, at the Clarence Stream Gold Project in New Brunswick.

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As well, shares of Stuart Olson Inc. (TSX:SOX) plummeted 64% to $0.325 as the construction services provider said it has agreed to be acquired by Bird Construction Inc. (TSX:BDT) for a total consideration of $96.5 million, consisting of $30.0 million in cash and $66.5 million of Bird common stock.

IPL Plastics Inc. (TSX:IPLP), meanwhile, reported that it has agreed to be acquired by an entity controlled by private equity firm Madison Dearborn Partners, LLC for C$10.00 per share in cash. IPL Plastics stock popped 49% to $9.97 following the announcement.

Finally, GreenPower Motor Company Inc. (TSXV:GPV) shares gained 17% to $1.19 after the manufacturer of electric-powered buses announced an order for 100 EV Stars from Green Commuter.

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

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