Junior Gold Miner Drops on Operations Update

Rising production costs weighed on shares of a junior gold miner, Superior Gold Inc. (TSXV:SGI), on Wednesday

Sean Mason | August 14, 2019 | SmallCapPower

Rising production costs weighed on shares of a junior gold miner Wednesday. Here’s some small stocks making big moves on Wednesday, August 14, 2019 (as of 11:30 am EST):

Superior Gold Inc. (TSXV:SGI) shares fell 19% to $0.89 on Wednesday after the junior gold miner announced a 6% quarter-over-quarter increase in gold production during Q2 to 23,849 ounces, while all-in sustaining costs increased to $1,293 per ounce sold in the current quarter as the Company increased spending to advance underground development and improve equipment availability.

As well, shares of The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) slipped 13% to $3.18 as the Canadian cannabis company said it has experienced a second-quarter net loss of $16.6 million while generating 20% revenue growth for the period to $2.9 million.

Venzee Technologies Inc. (TSXV:VENZ), meanwhile, reported the appointment of John Sexton Abrams as President and CEO, effective immediately. Mr. Abrams’ previous leadership successes included the creation of Redbox, a non-stop revenue-producing asset for McDonald’s Corporation. Venzee Technologies stock moved up 57% to $0.055 following the announcement.

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

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