Junior Explorer Jumps on Zinc Drill Results

Altair Resources Inc. (CVE:AVX), a junior explorer, moved higher after announcing zinc drill results from the Crepulje Project in Kosovo

Sean Mason | May 31, 2017 | SmallCapPower

Near-surface zinc assays sparked a bit of speculation in shares of a junior explorer Wednesday. Here’s some small stocks making big moves on Wednesday, May 31, 2017 (as of 4 pm EST):

Altair Resources Inc. (TSXV: AVX) shares climbed 8% to $0.335 on Wednesday after the junior explorer announced that it has intersected zinc mineralization in its initial 2017 diamond drilling on the Crepulje Project in Kosovo, which included 9.8 meters from surface averaging 10.11% zinc, and 0.46% lead.

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As well, shares of Asanko Gold Inc. (TSX: AKG) slid 13% to $2.19 before being halted after investment research firm Muddy Waters said it is short the stock, believing it is “highly likely to end up a Zero.” Asanko, late in the day, stated that there is no merit to the negative assertions about Asanko in the report, and reaffirmed plans for a June 5, 2017 release of its Expansion Definitive Feasibility Study that details the Company’s organic growth pipeline and confirms the strong cash generating capability of an expanded Asanko Gold Mine.

Theralase Technologies Inc. (TSXV: TLT), meanwhile, reported that it has experienced slower than expected sales growth of the TLC-2000, has not achieved sales revenue guidance of $5 million in 2016, and is not expected to achieve sales revenue guidance of $10 million in 2017 or the forward looking target of $50 million within five years of launch. Theralase Technologies stock dropped 16% to $0.345 following the announcement.

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