Junior Explorer Slides on Assay Results

Golden Ridge Resources Ltd. (TSXV:GLDN), a junior explorer, fell sharply after announcing assay results from its Hank Project in BC’s Golden Triangle

Sean Mason | November 28, 2018 | SmallCapPower

Golden Triangle drill results from a junior explorer fell short of investor expectations Wednesday. Here’s some small stocks making big moves on Wednesday, November 28, 2018 (as of 4 pm EST):

Golden Ridge Resources Ltd. (TSXV:GLDN) shares sank 31% to $0.10 on Wednesday after the junior explorer announced assay results for the remaining drill holes on its Hank Project in BC’s Golden Triangle District, which included 319 meters of 0.42 g/t gold, 0.34% copper, and 2.20 g/t silver.

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As well, shares of Canada Jetlines Ltd. (TSXV:JET) jumped 14% to $0.57 as the pending Canadian low-cost carrier airline said it has entered into a subscription agreement with Europe’s SmartLynx Airlines SIA for financing commitments of up to $15 million.

Katipult Technology Corp. (TSXV:FUND) stock, meanwhile, continued to move higher Wednesday, up 22% to $0.67 following a 17% gain on Tuesday, after the FinTech company reported a 38% increase in its third-quarter revenue to $0.3 million, while its gross margin percentage for the period was 73.9%, up from 62.2% a year earlier.

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

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