Junior Explorer Moves Higher on Court Ruling

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Skeena Resources Limited (CVE:SKE), a junior explorer, gained ground after announcing that the Supreme Court of British Columbia has ruled in favour of its subsidiary

Sean Mason | August 3, 2017 | SmallCapPower

A favourable court decision sparked a bit of interest in shares of a junior explorer Thursday. Here’s some small stocks making big moves on Thursday, August 3, 2017 (as of 4 pm EST):

Skeena Resources Limited (TSXV: SKE) shares rose as much as 9% before ending unchanged at $0.055 on Thursday after the junior explorer announced that the Supreme Court of British Columbia has ruled in favour of its subsidiary, Sona Resources, regarding a dispute about the Company’s option to earn a 100% equity interest in the Elizabeth property. Sona’s assets consist of the royalty-free, 100% owned, past-producing underground Blackdome gold mine in British Columbia, and an option to earn a 100% interest on the adjacent Elizabeth property.

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As well, shares of CRH Medical Corporation (TSX: CRH) sank 29% to $3.25 as the provider of services and products for gastroenterologists said that as a result of the annual process that insured individuals and companies go through when renewing their health insurance policies, its commercial payor mix may change each year, which could have a positive or negative impact on CRH’s revenues. CRH Medical also announced a 33% YoY increase in its Q2 revenue to US$22.1 million.

Altus Group Limited (TSX: AIF), meanwhile, reported that its second-quarter consolidated revenues rose 17% to $128.8 million, while Adjusted earnings per share for the period increased 46% to $0.41. Altus Group stock moved up 18% to $31.06 following the announcement.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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