Junior Gold Miner Jumps on Drill Results

Calibre Mining Corp. (TSX:CXB), a junior gold miner, surged after announcing drilling results from the Panteon deposit

Sean Mason | April 9, 2020 | SmallCapPower

Central American drill results attracted investors to shares of junior gold miner Thursday. Here’s some small stocks making big moves on Thursday, April 9, 2020 (as of 4 pm EST):

Calibre Mining Corp. (TSX:CXB) shares climbed 19% to $0.80 on Thursday after the junior gold miner announced drilling results from the Panteon deposit, part of the El Limon mine complex in Nicaragua, which included 17.77 grams per tonne (g/t) gold over 10.8 metres.

Read: Calibre Mining is a Growing Gold Success Story

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As well, shares of Great Bear Resources Ltd. (TSXV:GBR) rose 8% to $6.89 as the gold junior released results from its 100% owned flagship Dixie Project in the Red Lake district of Ontario, which included 4.24 g/t gold over 52.15 metres.

Magnetic North Acquisition Corp. (TSXV:MNC), meanwhile, reported that one of its investee companies, Previcare, Inc., has entered into an agreement with a Homeland Security consulting firm to assist and provide guidance in connection with the sale of products related to the COVID-19 pandemic, to certain US Federal and State government agencies and organizations. The Company has begun the process for its initial weekly delivery of approximately US$2.0 million of product, which is expected to last for a period of up to six months. Magnetic North Acquisition stock moved up 88% to $0.45 following the announcement.

Finally, NextSource Materials Inc. (TSX:NEXT) shares gained 33% to $0.04 after the graphite junior announced that it has executed a Letter of Agreement with its Japanese offtake partner and a Chinese processor of graphite anode material to collaborate on the construction of a battery anode plant in a jurisdiction that is proximal to the Company’s Molo graphite project in Madagascar.

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

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