Junior Explorer Jumps on Gold Drill Results

MacDonald Mines Exploration Ltd. (TSXV:BMK), a junior explorer, moved higher after announcing drill results from its SPJ Property

Sean Mason | December 9, 2019 | SmallCapPower

More than a few speculators took a shine to shares of a junior explorer Monday following the release of gold results. Here’s some small stocks making big moves on Monday, December 9, 2019 (as of 4 pm EST):

MacDonald Mines Exploration Ltd. (TSXV:BMK) shares climbed 6% to $0.09 on Monday after the junior explorer announced drill results from four holes of the now-completed Fall 2019 drilling program at its SPJ Property near Sudbury, Ontario, which included 7.99 grams per tonne (g/t) gold over 26.2 metres.

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As well, shares of Pan Orient Energy Corp. (TSXV:POE) plunged 58% to $1.01 as the oil and gas producer/explorer said it has concluded, following drilling of the Anggun-1X exploration well in Indonesia, that the Batu Raja formation target interval proved to be a tight, low permeability limestone with no reservoir potential and the Company plans to immediately plug and abandon the well and withdraw from the East Jabung Production Sharing Contract at the expiry of the current contract year in January 2020.

Victoria Gold Corp. (TSXV:VIT), meanwhile, reported assay results from the 2019 Nugget Zone surface trenches in the Yukon Territory, which included 6.64 grams per tonne (g/t) gold over 10.0 meters. Victoria Gold stock moved up 8% to $8.70 following the announcement.

Finally, Wallbridge Mining Company Limited (TSX:WM) shares rose 6% to $0.83 after the gold junior announced that Kirkland Lake Gold CEO Tony Makuch has joined the Company’s Board of Directors.

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

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