Industrial Minerals Stock Powers Higher on Technical Report

Athabasca Minerals Inc. (TSXV:ABM), an industrial minerals stock, jumped after announcing that it has filed its Technical Report for the White Rabbit Property

Sean Mason | November 6, 2019 | SmallCapPower

A resource update and mine plan lifted an industrial minerals stock Wednesday. Here’s some small stocks making big moves on Wednesday, November 6, 2019 (as of 4 pm EST):

Athabasca Minerals Inc. (TSXV:ABM), an industrial minerals stock, climbed 23% to $0.455 on Wednesday after announcing that it has filed its Technical Report for the White Rabbit Property associated with the Company’s Duvernay Premium Domestic Sand Project in Alberta, which “suggests high suitability for use as a hydraulic fracturing proppant.” Athabasca Minerals added that the latest supplemental drilling enables it to advance its mine plan, facility design and plant location for an efficient integrated operation.

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As well, shares of Sierra Wireless, Inc. (TSX:SW) slid 21% to $11.74 as the IoT solutions provider released its third-quarter financial results, which fell short of the analyst consensus estimate on both revenue and earnings. The Company also provided lacklustre full-year guidance.

MediaValet Inc. (TSXV:MVP), meanwhile, reported third-quarter revenue that surged 78% to $1.37 million, while its EBITDA loss of $0.60 million for the quarter was a 30% improvement from the same period last year. MediaValet stock moved up 37% to $1 following the announcement.

Finally, Granada Gold Mine Inc. (TSXV:GGM) shares rose 15% to $0.115 after the gold junior announced results from the latest drill program at its 100% owned Granada gold deposit in Quebec, which included 7.67 grams per tonne (g/t) gold over 15 meters of core length from near surface.

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

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