Mineral Explorer Powers Higher on Visible Copper

Max Resource Corp. (TSXV:MXR), a mineral explorer, moved higher after identifying visible copper oxide mineralization

Sean Mason | January 8, 2020 | SmallCapPower

An exploration update and copper sighting lifted shares of a mineral explorer Wednesday. Here’s some small stocks making big moves on Wednesday, January 8, 2020 (as of 4 pm EST):

Max Resource Corp. (TSXV:MXR) shares climbed 16% to $0.145 on Wednesday after the mineral explorer announced that it has identified visible copper oxide mineralization throughout a concentrated area of its 100%-owned Cesar copper-silver project in Colombia. The Company added that Phase II of the Cesar exploration program is set to begin in mid-January to follow-up reported assay results, conduct additional chip and/or channel sampling, and identify drill targets.

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As well, shares of QYOU Media Inc. (TSXV:QYOU) shot up as much as 25% as the independent investment research firm Ubika Alpha initiated coverage of the next generation global media company’s stock with a BUY rating and a target price of $0.30 per share.

Read: QYOU Media Inc – Explosive Growth Expected

Sable Resources Ltd. (TSXV:SAE), meanwhile, reported that it has received drilling permits for six new targets discovered during the last field season at its Don Julio Cluster Project in Argentina. Sable Resources stock moved up 16% to $0.11 following the announcement.

Finally, Prophecy Development Corp. (TSX:PCY) shares slipped 14% to $0.425 after the silver project developer announced that it plans to change the name of the Company to “Silver Elephant Mining Corp,” and is proposing to consolidate its common stock at a ratio of between one new common share for every five to 10 old common shares outstanding.

QYOU Media Inc. (TSXV:QYOU) is a featured sponsored company and has paid SmallCapPower.com a fee for coverage. To learn more, see our full disclosure HERE >>

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

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