Gold drill results attracted more than a few speculators to shares of a junior explorer Thursday. Here’s some small stocks making big moves on Thursday, May 7, 2020 (as of 4 pm EST):
Melkior Resources Inc. (TSXV:MKR) shares jumped 24% to $0.39 on Thursday after the junior explorer announced results from the first two drill holes on the Carscallen Gold project located approximately 25 kilometers west of Timmins, Ontario, which included 23.5 grams per tonne (g/t) gold over 8.0 meters.
As well, shares of goeasy Ltd. (TSX:GSY) surged 26% to $49 as the alternative financial services provider said its first-quarter revenue rose 20% year over year to $167 million, while diluted earnings per share for the period also increased 20% to $1.41.
Photon Control Inc. (TSX:PHO), meanwhile, reported record revenue of $17.3 million for Q1 2020 versus $8.9 million for Q4 2019, with net income of $6.6 million for Q1 2020 versus $0.7 million for Q4 2019. Photon Control stock popped 32% to $1.48 following the announcement.
Finally, PetroTal Corp. (TSXV:TAL) shares sank 32% to $0.14 after the oil and gas junior announced that the Northern Oil Pipeline operated by PETROPERU S.A. has been shut down by a public health directive from the Peruvian government, thereby resulting in PetroTal having to shut in the Bretana oil field as a result of storage capacity limitations.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.