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Junior Explorer Jumps on Discovery Announcement

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Golden Ridge Resources Ltd. (TSXV:GLDN), a junior explorer, jumped after announcing that it has made a copper-gold porphyry discovery at its Hank project

Sean Mason | August 14, 2018 | SmallCapPower

More Golden Triangle drill results sparked much speculation in shares of a junior explorer Tuesday. Here’s some small stocks making big moves on Tuesday, August 14, 2018 (as of 4 pm EST):

Golden Ridge Resources Ltd. (TSXV:GLDN) shares powered 44% higher to $0.325 on Tuesday after the junior explorer announced that it has made a new alkalic copper-gold porphyry discovery at the Williams Zone prospect on its Hank project in British Columbia’s Golden Triangle region. Drill results included 0.31% copper, 0.35 g/t gold, and 1.94 g/t silver over 327.00 metres.

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As well, shares of High Liner Foods Incorporated (TSX:HLF) slipped 19% to $7.09 as the frozen seafood company said financial results for its second quarter of 2018 reflect continued challenges in the business related to soft sales volume, a shift in product mix from higher margin value-added products to lower margin commodity products, raw material cost increases not fully passed along to customers and inefficiencies in its supply chain.

Eguana Technologies Inc. (TSXV:EGT), meanwhile, reported that July orders have exceeded $3 million, eclipsing its first two fiscal quarter results of $2.4 million, with an additional $3 million expected for the balance of the fiscal year. Eguana Technologies stock moved up 8% to $0.205 following the announcement.

Finally, Patriot One Technologies Inc. (TSXV:PAT) shares rose 4% to $1.65 after the concealed weapons detection system provider announced that it has reached an agreement in principle with a major international defense contractor pursuant to which Patriot One will receive funding for the further development and integration of its PATSCAN CMR covert weapon detection system technology.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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