Junior Explorer Rises on Drilling Update

X-Terra Resources Inc. (TSXV:XTT), a junior explorer, moved up after increasing the size of the drill program on the Northwest and Grog properties

Sean Mason | January 22, 2020 | SmallCapPower

An expanded drill program sparked speculation in shares of a junior explorer Wednesday. Here’s some small stocks making big moves on Wednesday, January 22, 2020 (as of 4 pm EST):

X-Terra Resources Inc. (TSXV:XTT) shares gained 24% to $0.13 on Wednesday after the junior explorer announced that it has increased the overall size of the ongoing drill program over its high-priority targets on the Northwest and Grog properties in New Brunswick.

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As well, shares of Lite Access Technologies Inc. (TSXV:LTE) surged 25% to $0.47 as the provider of micro/narrow trenching technologies for fibre optic network deployment said it has been awarded an additional contract with UK’s CityFibre, valued at about C$13 million over two years.

Adamera Minerals Corp. (TSXV:ADZ), meanwhile, reported that it has entered into an option/joint venture agreement with Hochschild Mining (US) Inc., in which Hochschild can earn a 60% interest in the Cooke Mountain gold project in Washington State by incurring US$8 million in exploration expenditures over five years. Adamera Minerals stock moved up 50% to $0.045 following the announcement.

Finally, Questerre Energy Corporation (TSX:QEC) shares climbed 21% to $0.23 after the energy technology company announced that it has received all approvals and has closed the acquisition of assets in Quebec, which includes exploration rights to 753,000 net acres, associated wells and equipment, geophysical data and other miscellaneous assets.

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

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