Gold Junior Jumps on Drill Results

Rupert Resources Ltd. (TSXV:RUP), a gold junior, shot up after announcing drill results from its Pahtavaara Project

Sean Mason | October 1, 2020 | SmallCapPower

Glistening gold assays from Europe powered shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, October 1, 2020 (as of 4 pm EST):

Rupert Resources Ltd. (TSXV:RUP) shares surged 35% to $5.40 on Thursday after the gold junior announced drill results from its 100% owned Pahtavaara Project in Finland, which included 4.2 grams per tonne (g/t) gold over 167 metres.

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As well, shares of Black Diamond Group Limited (TSX:BDI) climbed 11% to $1.65 as the provider of workforce accommodations said it and the Wskijnu’k Mtmo’taqnuow Agency have been awarded a $720 million contract to construct a workforce lodge, which will house up to 5,000 workers.

NuVista Energy Ltd. (TSX:NVA) stock, meanwhile, moved up 6% to $0.68 after Paramount Resources revealed that it has acquired 17,324,000 common shares of NuVista at a price of $0.61 per share. As a result of this transaction, Paramount now has a 17.61% equity stake in NuVista.

Finally, Raise Production Inc. (TSXV:RPC) shares rose 71% to $0.06 after the oilfield service company announced that it has entered into an agreement in which Q2 Artificial Lift Services will be the exclusive distributor of Raise’s High Angle Reciprocating Pump and Horizontal Artificial Recovery Technology for North America.

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

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