Junior Explorer Jumps on Gold Drill Results

Amex Exploration Inc. (TSXV:AMX), a junior explorer, moved higher after announcing drill results from its Perron property

Sean Mason | September 19, 2019 | SmallCapPower

High-grade gold results attracted a few speculators to shares of a junior explorer Thursday. Here’s some small stocks making big moves on Thursday, September 19, 2019 (as of 4 pm EST):

Amex Exploration Inc. (TSXV:AMX) shares climbed 10% to $1.13 on Thursday after the junior explorer announced results of several drill holes on the Gratien Gold Zone as part of its Perron property in Quebec, which included 16.48 g/t gold over 14.60 metres.

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As well, shares of Baylin Technologies Inc. (TSX:BYL) sank 22% to $2.52 as the wireless technology management company said its third-quarter financial results are expected to fall below consensus expectations, citing “challenging industry dynamics” that have continued to soften demand from several of its primary customers. Baylin now expects Q3 revenue to be in the range of C$35 million to $37 million.

Golden Ridge Resources Ltd. (TSXV:GLDN), meanwhile, reported the remaining results from Phase I drilling at its Hank copper-gold-silver-lead-zinc project located in BC’s Golden Triangle, saying that no significant drill intercepts were received at the Boiling Zone and Creek Zone, and the additional three step-out holes drilled into the Williams Zone encountered porphyry-style alteration with no significant copper-gold-silver mineralization. Golden Ridge Resources stock dropped 27% to $0.04 following the announcement.

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

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