Junior Explorer Jumps on Gold Drill Results

MacDonald Mines Exploration Ltd. (TSXV:BMK), a junior explorer, gained ground after announcing results from the Scadding Deposit

Sean Mason | September 26, 2019 | SmallCapPower

Premier gold assay results sparked much speculation in shares of a junior explorer Thursday. Here’s some small stocks making big moves on Thursday, September 26, 2019 (as of 4 pm EST):

MacDonald Mines Exploration Ltd. (TSXV:BMK) shares climbed as much as 39% on Thursday after the junior explorer announced results from the first hole of its inaugural drilling program on the Scadding Deposit northeast of Sudbury, Ontario, which included 52.02 g/t gold over 12.3 metres.

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As well, shares of Baylin Technologies (TSX:BYL) gained 8% to $2.35 as the wireless technology management company said its wholly-owned subsidiary, Galtronics USA Inc, has partnered with one of Europe’s largest pole and lighting companies and has released two smart pole antenna solutions to provide 3G and 4G coverage in high-density locations.

Western Resources Corp. (TSX:WRX), meanwhile, reported that its wholly-owned subsidiary, Western Potash Corp, has entered into a binding offtake agreement with Archer Daniels Midland Company for 100% of the potash production (146,000 tonnes per annum) from the Milestone Phase I plant in Saskatchewan. Western Resources stock moved up as much as 16% before ending the day 2% higher at $0.255 following the announcement.

Finally, Thunderbird Entertainment Group Inc. (TSXV:TBRD) shares surged 18% to $1.45 after the multi-platform entertainment company announced the appointment of Brian Paes-Braga as Chair of the Company’s Board of Directors, effective immediately. Mr. Paes-Braga is a large shareholder of Thunderbird Entertainment and is the former Founder and CEO of Lithium X Energy Corp, which was acquired for $265 million.

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

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