Junex Inc. (CVE:JNX), an oil & gas junior, gushed after announcing it will partner with Ressources Québec to develop the Galt oil and gas project
Sean Mason | August 4, 2017 | SmallCapPower
Government participation turned out to be a good thing for shareholders of an oil & gas junior Friday. Here’s some small stocks making big moves on Friday, August 4, 2017 (as of 4 pm EST):
Junex Inc. (TSXV: JNX) shares powered 19% higher to $0.48 on Friday after the oil & gas junior announced the signing of a partnership agreement with Ressources Québec Inc., which will lead to investments estimated at $14 million for the Galt oil and gas project on the Gaspé Peninsula in Quebec. Junex will retain an interest of 52.87% in the Galt Oil Project and will invest 10% of the anticipated expenditures for the exploration campaign.
As well, shares of First Majestic Silver Corp. (TSX: FR) slid 19% to $7.89 as the silver miner released weaker-than-expected second quarter financial results, in which silver production decreased 16% to 2.3 million ounces and its all-in sustaining costs increased 19%.
ClearStream Energy Services Inc. (TSX: CSM), meanwhile, reported that its second-quarter revenue surged 82% to $111.6 million. ClearStream Energy Services stock moved up 13% to $0.135 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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