Junior Miner Moves Higher on Production Update

Atico Mining Corporation (TSXV:ATY), a junior miner, gained ground after exceeding most of its adjusted 2019 operational guidance

Sean Mason | January 17, 2020 | SmallCapPower

More copper and gold was good news for shareholders of a junior miner Friday. Here’s some small stocks making big moves on Friday, January 17, 2020 (as of 4 pm EST):

Atico Mining Corporation (TSXV:ATY) shares rose 4% to $0.40 on Friday after the junior miner announced that it produced 16.85 million pounds of copper with 10,480 ounces of gold in concentrates for the full year 2019, exceeding most of its adjusted 2019 operational guidance. The Company added that it will continue aggressive exploration at its El Roble and La Plata properties during 2020.

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As well, shares of Argonaut Gold Inc. (TSX:AR) slipped 13% to $1.68 as the gold miner said it produced a record annual 186,615 gold equivalent ounces during 2019, falling short of its 200,000 ounce guidance, and adding that it believes it could be more profitable for the Company to produce slightly less ounces in 2020 while increasing cash flow from operations.

Tetra Bio Pharma Inc. (TSXV:TBP), meanwhile, reported that Health Canada has granted two Drug Identification Numbers (DIN) for the first over-the-counter products to be marketed under its TERPACAN banner. TERPACAN is a topical formulation that will be used for the treatment of hemorrhoids. Tetra Bio Pharma stock moved up 16% to $0.65 following the announcement.

Finally, Omineca Mining and Metals Ltd. (TSXV:OMM) shares jumped 50% to $0.09 after the junior explorer announced that it has staked an additional 36,000 hectares of mineral claims at Wingdam, British Columbia, and is now holding 100% ownership of over 39,000 contiguous hectares at its Wingdam project.

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

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