Graphite Junior Rises on Updated Resource Estimate

South Star Mining Corp. (TSXV:STS), a graphite junior, moved up after announcing an updated mineral resource estimate for its Santa Cruz Graphite Project

Sean Mason | July 8, 2019 | SmallCapPower

An updated resource estimate powered shares of a graphite junior Monday. Here’s some small stocks making big moves on Monday, July 8, 2019 (as of 4 pm EST):

South Star Mining Corp. (TSXV:STS) shares jumped 37% to $0.13 on Monday after the graphite junior announced an updated mineral resource estimate incorporating the 2018 exploration program at its Santa Cruz Graphite Project in Brazil, which now shows 3.95 million tonnes at 2.40% Cg of Measured, 11 million tonnes at 2.25% Cg of Indicated and 7.9 million tonnes at 2.32% Cg of Inferred resources.

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As well, shares of CannTrust Holdings Inc. (TSX:TRST) sank 23% to $5 as the Canadian cannabis company said it has received a compliance report from Health Canada notifying CannTrust that its greenhouse facility in Pelham, Ontario is non-compliant with certain regulations.

Intermap Technologies (TSX:IMP), meanwhile, reported that it has entered into a definitive agreement with Lufthansa Systems GmbH & Co KG, which formalizes the business agreement announced on December 17, 2018. The two companies have brought to market the world’s first high-resolution, global geospatial terrain dataset, called Lido/SurfaceData NEXTView. Intermap Technologies stock popped 32% to $0.245 following the announcement.

Finally, Toachi Mining Inc. (TSXV:TIM) shares gained 30% to $0.065 after the resource junior agreed to be acquired by Atico Mining Corporation (TSXV:ATY) in an all-stock transaction. Toachi shareholders will receive 0.24897 of an Atico common share for each Toachi common share held.

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

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