Shares of a popular gold explorer pulled back Friday as an exploration update failed to live up to expectations. Here’s some small stocks making big moves on Friday, November 24, 2017 (as of 4 pm EST):
Novo Resources Corp. (TSXV:NVO) shares slipped 18% to $5.45 on Friday after the gold explorer provided an update on exploration activities at the Purdy’s Reward tenement, part of Novo’s greater Karratha gold project in Western Australia, which included the revelation that Novo is uncomfortable with FORACO International SA’s sampling techniques and the product produced for use as bulk sample material for grade estimation and is reviewing other potential options for collecting bulk samples from drilling.
As well, shares of Relevium Technologies Inc. (TSXV:RLV) jumped 80% to $0.27 as the online retailer of health and wellness brands announced the signing of an exclusive brand and product assignment with HempCo Canada for the Planet Hemp brand.
Naturally Splendid Enterprises Ltd. (TSXV:NSP), meanwhile, reported that it has closed an oversubscribed non-brokered private placement financing at $0.15 per unit, for total gross proceeds of $1,828,750.30. Naturally Splendid stock moved up 9% to $0.25 following the announcement.
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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Novo Resources Corp. (TSXV:NVO) shares slipped 18% to $5.45 on Friday after the gold explorer provided an update on exploration activities at the Purdy’s Reward tenement, part of Novo’s greater Karratha gold project in Western Australia, which included the revelation that Novo is uncomfortable with FORACO International SA’s sampling techniques and the product produced for use as bulk sample material for grade estimation and is reviewing other potential options for collecting bulk samples from drilling.
