Junior Explorer Climbs on Initial Drill Results

Sama Resources Inc. (TSXV:SME), a junior explorer, continued to gain ground after announcing results from Yepleu Sector 1 in Côte d’Ivoire, West-Africa

Sean Mason | April 5, 2019 | SmallCapPower

Semi-massive and massive sulphide material sparked interest in shares of a junior explorer Friday. Here’s some small stocks making big moves on Friday, April 5, 2019 (as of 4 pm EST):

Sama Resources Inc. (TSXV:SME) shares surged 27% to $0.35 on Friday a day after the junior explorer announced that a second hole drilled at Yepleu Sector 1 in Côte d’Ivoire, West-Africa, as a follow-up on the mineralized zone intersected on the first deep hole, returned a mineralized zone of 54 metres of disseminated to semi-massive and massive sulphide material from 585 metres to 639 metres from the surface. The Company added that assays results are pending.

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As well, shares of Japan Gold Corp. (TSXV:JG) sank 26% to $0.19 as the resource junior said First Quantum Minerals has decided not to enter into a formal earn-in agreement following completion of an initial surface evaluation on the four lithocap projects.

Glacier Media Inc. (TSX:GVC), meanwhile, reported the sale of its affiliate’s interest in Fundata Canada Inc. for $55 million. Glacier also announced the acquisition of the assets of Castanet Media Ltd., a leading source of local media and related information in the Okanagan region of British Columbia, with over 35 million monthly page views. Glacier Media stock popped 13% to $0.60 following the announcement.

Finally, MediPharm Labs Corp. (TSXV:LABS) shares jumped 17% to $4.25 two days after the cannabis extraction company announced Q4 2018 revenue of $10.2 million and Adjusted EBITDA of $2.1 million.

Read: Ubika Alpha says MediPharm Labs revenue growth is just getting started

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

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