Helium Explorer Rises on Production Update

Desert Mountain Energy Corp. (TSXV:DME), a helium explorer, climbed after providing a corporate update

SmallCapPower | October 26, 2020:

A production timeline provided a lift to shares of a helium explorer Monday. Here’s some small stocks making big moves on Monday, October 26, 2020 (as of 4 pm EST):

Desert Mountain Energy Corp. (TSXV:DME) shares moved up as much as 11% on Monday after the helium explorer provided a corporate update, saying it plans to start producing helium from four to six wells by the fourth quarter of 2021 and projects to have 50 to 55 operating wells within four years.

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As well, shares of Galway Metals Inc. (TSXV:GWM) gained 2% to $1.18 as the gold junior released assay results from drilling on the west and east sides of the Richard Zone at its Clarence Stream project in New Brunswick, which included 9.7 grams per tonne (g/t) gold over 15.0 metres.

Genworth MI Canada Inc. (TSX:MIC), meanwhile, reported that it has entered into an agreement with Brookfield Business Partners L.P. (TSX:BBU.UN), in which Brookfield will acquire the remaining stake in Genworth that it doesn’t already own for $43.50 per share in cash. Genworth MI stock popped 24% to $44.18 following the announcement.

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

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