Graphite Junior Climbs on Drill Program Expansion

Lomiko Metals Inc. (TSXV:LMR), a graphite junior, moved up after saying it will expand its drill program the La Loutre graphite property

Sean Mason | March 7, 2019 | SmallCapPower

An expanded Quebec drill program lifted shares of a graphite junior Thursday. Here’s some small stocks making big moves on Thursday, March 7, 2019 (as of 4 pm EST):

Lomiko Metals Inc. (TSXV:LMR) shares gained 9% to $0.06 on Thursday after the graphite junior announced the expansion of the 15-drill hole program to 21 drill holes at the Refractory Zone of the La Loutre graphite property in Quebec, which Lomiko said is intended to assist in the definition of a low footprint, open-pit mining scenario.

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As well, shares of Obsidian Energy Ltd. (TSX:OBE) fell 13% to $0.41 as the Canadian oil and natural gas production company said its President and CEO will step down on March 29, 2019 and Obsidian is proposing to consolidate its common stock on the basis of seven old common shares for one new common share.

Goldmoney Inc. (TSX:XAU), meanwhile, reported that the Toronto Stock Exchange has approved its intention to make a normal course issuer bid to purchase for cancellation three million common shares of Goldmoney, representing 3.9% of the issued and outstanding common shares as at March 1, 2019. Goldmoney stock moved up 8% to $2.24 following the announcement.

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

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