Assay sampling results sparked a bit of interest in a lithium junior Thursday. Here’s some small stocks making big moves on Thursday, October 19, 2017 (as of 4 pm EST):
E3 Metals Corp. (TSXV:ETMC) shares surged 33% to $0.48 on Thursday after the lithium junior announced that lithium concentrations obtained from 43 wells across E3’s permit area at its Petro-Lithium Project in Alberta confirm historic results as high as 84.8 mg/l, which the Company said will allow it to develop its first lithium mineral resource, expected in Q4 2017.
As well, shares of Colabor Group Inc. (TSX:GCL) slid 26% to $0.69 as the distributor and wholesaler of food and non-food products said it swung to a third-quarter net loss of $18.8 million, compared to net earnings of $2.7 million during the same period last year. The Company cited disappointing results in Ontario, which mainly reflected inefficiencies in the execution of its strategy to optimize its distribution platform in that region.
Golden Ridge Resources Ltd. (TSXV:GLDN) stock, meanwhile, began trading Thursday following a reversed takeover transaction involving 88 Capital Corp. Golden Ridge holds an option to earn a 100% interest in the 1,700-hectare Hank gold-silver-copper property located in the Golden Triangle district of British Columbia.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
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E3 Metals Corp. (TSXV:ETMC) shares surged 33% to $0.48 on Thursday after the lithium junior announced that lithium concentrations obtained from 43 wells across E3’s permit area at its Petro-Lithium Project in Alberta confirm historic results as high as 84.8 mg/l, which the Company said will allow it to develop its first lithium mineral resource, expected in Q4 2017.
