A hydrothermal mineralized system discovery powered shares of a junior explorer Thursday. Here’s some small stocks making big moves on Thursday, October 10, 2019 (as of 4 pm EST):
Crystal Lake Mining Corporation (TSXV:CLM) shares climbed 9% to $0.18 on Thursday after the junior explorer announced the discovery of what the Company calls an entirely new multi-element hydrothermal mineralized system in the Chachi Corridor at the Newmont Lake Project in B.C.’s Golden Triangle, with sample results ranging up to 21.03 grams per tonne (g/t) gold, 2,350 g/t silver, 5.4% copper, 7.7% nickel, 0.85% cobalt, 15.2% zinc, and 6.2% lead. Crystal Lake Mining has an option to earn a 100% interest in the Newmont Lake Project.
As well, shares of HEXO Corp. (TSX:HEXO) sank 23% to $3.76 as the Canadian cannabis company said it is withdrawing its previously-issued financial outlook for fiscal 2020. HEXO added that it expects its fourth-quarter revenue to be below expectations, due primarily to “lower than expected product sell through.”
48North Cannabis Corp. (TSXV:NRTH), meanwhile, reported that it has acquired Sackville & Co. Merchandising Ltd, a U.S.-based cannabis brand focused on cannabis accessories, in a cash-and-stock transaction. 48North Cannabis stock eased 9% to $0.50 following the announcement.
Finally, Pacton Gold Inc. (TSXV:PAC) shares rose 4% to $0.15 after the gold explorer announced that drill crews and equipment have been mobilized to the Company’s Red Lake Gold project in northwest Ontario.
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.