Gold Junior Jumps on Quebec Drill Results

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Wallbridge Mining Company Limited (TSX:WM), a gold junior, made gains after announcing drill results from its Fenelon Gold Property

Sean Mason | May 20, 2020 | SmallCapPower

More than a few speculators took a shine to drill results from a gold junior Wednesday. Here’s some small stocks making big moves on Wednesday, May 20, 2020 (as of 4 pm EST):

Wallbridge Mining Company Limited (TSX:WM) shares climbed 13% to $1.17 on Wednesday after the gold junior announced additional drill results within the Area 51 vein network at its 100%-owned Fenelon Gold Property in Quebec, which included 1.70 grams per tonne (g/t) gold over 58.50 metres that the Company said is “potentially open pit bulk mineable.”

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As well, shares of Zenabis Global Inc. (TSX:ZENA) rose 11% to $0.15 as the Canadian cannabis company said it has received EU-GMP approval for its Atholville facility and expects to commence commercial export to the European Union in the third quarter of 2020.

Melkior Resources Inc. (TSXV:MKR), meanwhile, reported that Kirkland Lake Gold will invest $1 million into Melkior via a non-brokered private placement at a price of $0.80 per unit. Melkior Resources stock moved up as much as 12% following the announcement.

Finally, Numinus Wellness Inc. (TSXV:NUMI) shares began trading on the Toronto Venture exchange on Wednesday. Numinus is a Vancouver-based health care company that plans to offer physical locations where psychedelic-assisted therapies can take place once approved by regulators.

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

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

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