Junior Silver Miner Glisters on Record Monthly Production

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Maya Gold & Silver (CVE:MYA), a junior silver miner, climbed after announcing record monthly silver production in May from its Zgounder silver mine in Morocco

Sean Mason | June 13, 2017 | SmallCapPower

Surging silver production and grade increases caused a junior silver miner to shine Tuesday. Here’s some small stocks making big moves on Tuesday, June 13, 2017 (as of 4 pm EST):

Maya Gold & Silver (TSXV: MYA) shares gained 13% to $0.18 on Tuesday after the junior silver miner announced record monthly production of 54,013 ounces of silver during May 2017 at its Zgounder silver mine in Morocco, which was up 16.74% from the same month last year. The Company also saw a 20.5% increase in the average head grade over the past year.

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As well, shares of Sears Canada Inc. (TSX: SCC) dropped 24% to $0.87 as the retailer said its first-quarter revenue fell 15.2% to $505.5 million, while its net loss for the quarter widened to $144.4 million from $63.6 million during the same period last year. The Company added that the challenging environment in which it operates raises significant doubt as to its ability to continue as a going concern.

Bri-Chem Corp. (TSX: BRY), meanwhile, reported that it has further expanded its footprint in the United States drilling fluids market by adding its fourth strategically located warehouse and second oil based mud blending plant for distribution of drilling fluid products in Texas. The Company believes the new facility will enhance its ability to service existing customers and open up a new customer base closer to the Permian Basin. Bri-Chem stock moved up 19% to $0.68 following the announcement.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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