Junior Explorer Jumps on Gold, Silver Drill Results

Benchmark Metals Inc. (TSXV:BNCH), a junior explorer, surged after releasing results from its Lawyers Project

Sean Mason | October 7, 2019 | SmallCapPower

Shining precious metals assays attracted more than a few speculators to shares of a junior explorer Monday. Here’s some small stocks making big moves on Monday, October 7, 2019 (as of 4 pm EST):

Benchmark Metals Inc. (TSXV:BNCH) shares climbed 14% to $0.415 on Monday after the junior explorer announced the first drill hole result of 2019 from the Phoenix Zone at its Lawyers Project in British Columbia, which included 46.9 grams per tonne (g/t) gold and 3,055.6 g/t silver over 2.87 metres.

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As well, shares of HEXO Corp. (TSX:HEXO) eased 7% to $5.06 as the Canadian cannabis company late Friday said its Chief Financial Officer, Michael Monahan, has made the decision to resign, effective immediately.

Prophecy Development Corp. (TSX:PCY), meanwhile, reported that the Pulacayo Mining Production Contract between Prophecy and a branch of the Bolivian Ministry of Mining and Metallurgy has been signed, granting Prophecy the exclusive rights to develop and mine at the Pulacayo and Paca concessions for up to 30 years. Prophecy Development stock moved up 26% to $0.49 following the announcement.

In addition, Millennial Lithium Corp. (TSXV:ML) shares gained 9% to $1.38 after the lithium junior said the National Mining Secretary of Argentina has signed and granted a Federal Fiscal Stability Certificate for the Company’s Pastos Grandes Project, outlining the tax regime and additional benefits for the next 30 years.

Finally, Emerald Health Therapeutics (TSXV:EMH) shares rose 3% to $1.32 as the Canadian cannabis cultivator announced that its cannabis production facility in St. Eustache, Quebec, has received a license amendment from Health Canada for the complete growing and processing area in its 88,000 square foot indoor facility.

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

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