Junior Gold Miner Rises on Resource Increase

Superior Gold Inc. (TSXV:SGI), a junior gold miner, moved up after announcing an updated resource estimate for its Plutonic Gold Operations

Sean Mason | July 21, 2020 | SmallCapPower

A significant gold resource bump pushed shares of a junior gold miner higher Tuesday. Here’s some small stocks making big moves on Tuesday, July 21, 2020 (as of 4 pm EST):

Superior Gold Inc. (TSXV:SGI) shares gained 2% to $1.16 on Tuesday after the junior gold miner announced an updated resource estimate for its Plutonic Gold Operations in Western Australia, which showed a 29% increase in the total Measured and Indicated resource to 1.59 million gold ounces along with a 55% increase in the Inferred Resource to 2.82 million ounces of gold.

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As well, shares of Organigram Holdings Inc. (TSX:OGI) slipped 10% to $1.84 as the Canadian cannabis company said its third-quarter net revenue fell to $18.0 million from $24.8 million a year earlier, while its net loss for the quarter ballooned to $89.9 million from $10.2 million during the same period last year.

NexOptic Technology Corp. (TSXV:NXO) stock, meanwhile, continued to move higher Tuesday, up 29% to $1.07 following a 9% gain on Monday, after reporting that it has created AI that transforms Image Signal Processors technology, which manipulate images from raw data into precise and coherent imagery that the Company said is being used as part of new application paths in robotics, smart cities, industrial automation, automotive, healthcare and more.

Finally, Nicola Mining Inc. (TSXV:NIM) shares jumped 30% to $0.15 after the resource explorer announced that it has begun exploration at the Treasure Mountain silver property in British Columbia.

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

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