Gold Junior Jumps on Quebec Drill Results

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.

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

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