Mineral Exploration Stock Climbs on Earn-In Agreement

Mundoro Capital Inc. (TSXV:MUN), a mineral exploration stock, continued to gain ground after announcing an earn-in agreement with Vale Canada

Sean Mason | October 8, 2019 | SmallCapPower

A Vale earn-in agreement sparked much speculation in a mineral exploration stock Tuesday. Here’s some small stocks making big moves on Tuesday, October 8, 2019 (as of 4:00 pm EST):

Mundoro Capital Inc. (TSXV:MUN), a mineral exploration stock, continued to move higher on Tuesday, up 15% to $0.15 following an 18% gain on Monday, after announcing an earn-in agreement with Vale Canada Limited, in which Mundoro has granted to Vale an option to earn-in to four of Mundoro’s exploration licenses: Sumrakovac, Osnic, Dubrava and Padina, located within the Timok Magmatic Complex in Serbia.

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As well, shares of K92 Mining Inc. (TSXV:KNT) rose 0.85% to $2.37 as the junior miner said third-quarter production at its Kainantu Gold Mine in Papua New Guinea exceeded expectations by 14%, with 19,170 ounces of gold equivalent produced.

M3 Metals Corp. (TSXV:MT), meanwhile, reported that it has secured an option from two separate vendors to acquire a 100% right, title and interest in the Mohave Mine Gold Project in Arizona, which contains “numerous” historic gold mines. M3 Metals stock moved up 40% to $0.14 following the announcement.

Finally, HIVE Blockchain Technologies Ltd. (TSXV:HIVE) shares jumped 14% to $0.205 after the blockchain company announced financial results for its first quarter of 2019, which included US$5.6 million in earned net income.

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

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