Junior Explorer Advances on Gold Project Option

Rhyolite Resources Ltd. (TSXV:RYE), a junior explorer, jumped after announcing an option to acquire an interest in the Brothers gold project

Sean Mason | October 14, 2020 | SmallCapPower

A South American gold property option generated interest in shares of a junior explorer Wednesday. Here’s some small stocks making big moves on Wednesday, October 14, 2020 (as of 4 pm EST):

Rhyolite Resources Ltd. (TSXV:RYE) shares climbed 100% to $0.40 on Wednesday after the junior explorer announced an option to acquire an 80% interest in the Brothers gold project in Suriname, in consideration for 15,546,566 Rhyolite shares.

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As well, shares of Touchstone Exploration Inc. (TSX:TXP) surged 27% to $1.97 as the oil and gas producer/explorer said it has encountered what it called a “significant” natural gas discovery at the Chinook-1 exploration well onshore in the Republic of Trinidad and Tobago.

Niobay Metals Inc. (TSXV:NBY), meanwhile, reported results of an independent Preliminary Economic Assessment (PEA) for its wholly-owned James Bay Niobium project near Moose Factory in northern Ontario, which showed an after-tax NPV (8%) of $1.0 billion and IRR of 27.5%. Niobay Metals stock moved up 8% to $0.78 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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