A substantial production guidance reduction tarnished a junior gold stock Monday. Here’s some small stocks making big moves on Monday, November 4, 2019 (as of 4 pm EST):
Harte Gold Corp. (TSX:HRT), a junior gold stock, sank 20% to $0.18 on Monday after announcing that its full-year 2019 production guidance has been adjusted to 24,000 to 26,000 ounces at all-in-sustaining costs (AISC) of US$2,000 to US$2,200 per ounce, down from the Company’s previous forecast of 39,200 ounces at AISC of US$1,300 to US$1,350 per ounce.
As well, shares of Medicure Inc. (TSXV:MPH) surged 44% to $4.65 as the cardiovascular pharmaceutical company said it intends to commence an issuer bid to purchase up to 4.0 million of its common shares for cancellation at a set purchase price of $6.50 per share.
Africa Oil Corp. (TSX:AOI), meanwhile, reported that it has increased its stake in the Deepwater Nigeria Fields thorough the acquisition of a 50% interest in Petrobras Oil and Gas B.V., which includes indirect interests in producing assets operated by Chevron and TOTAL. Africa Oil stock moved up 22% to $1.41 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Harte Gold Corp. (TSX:HRT), a junior gold stock, sank 20% to $0.18 on Monday after announcing that its full-year 2019 production guidance has been adjusted to 24,000 to 26,000 ounces at all-in-sustaining costs (AISC) of US$2,000 to US$2,200 per ounce, down from the Company’s previous forecast of 39,200 ounces at AISC of US$1,300 to US$1,350 per ounce.
