Junior Gold Miner Glisters on Record Output

Perseus Mining Limited (TSX:PRU), a junior gold miner, climbed after announcing that it has produced a record quantity of gold during the June 2018 quarter

Sean Mason | July 5, 2018 | SmallCapPower

Ramping up production in West Africa pushed shares of a junior gold miner sharply higher Thursday. Here’s some small stocks making big moves on Thursday, July 5, 2018 (as of 11:30 am EST):

Perseus Mining Limited (TSX:PRU) shares jumped 14% to $0.48 on Thursday after the junior gold miner announced that it has produced a record quantity of gold, 83,881 ounces, from its two West African mines during the June 2018 quarter, up 31% from the March 2018 quarter.

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As well, shares of Centerra Gold Inc. (TSX:CG) slipped 8% to $6.95 as the gold mining company said there is short-term risk that throughput levels at its Mount Milligan mine in British Columbia may need to be reduced in the fourth quarter of 2018 if, among other things, the Company does not receive regulatory approval to obtain additional short and long-term sources of groundwater and surface water solutions on its expected timeline.

Memex Inc. (TSXV:OEE), meanwhile, reported that it has secured more than $650,000 in new purchase orders in the month of June, including some new customer orders booked that the Company believes have the potential to develop into significant future business. Memex stock moved up 20% to $0.06 following the announcement.

Finally, The Mint Corporation (TSXV:MIT) shares rose 9% to $0.185 after the financial technology company announced that its subsidiary, Mint Gateway for Electronic Payment Services LLC, has entered into a payment processing services agreement for the processing of Mastercard branded payroll cards in an African-based payroll card program. The program has a planned initial deployment of 300,000 Mastercard branded payroll cards to disburse salaries to government employees. The initial deployment of 300,000 cards is expected to be completed within 12 months and would represent a 75% increase in the number of cards processed by Mint. The initial term of the contract is for three years with annual renewal terms thereafter at the election of the parties.

To find out more about The Mint Corporation, please visit the company’s Investor Hub.

Ubika Research/SmallCapPower has received compensation from Mint to provide analyst research coverage. For full disclosure please visit here >>.

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

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