Potash Junior Jumps on Royalty Sale

Gensource Potash Corporation (TSXV:GSP), a potash junior, surged after announcing a US$6.0 million royalty sale

Sean Mason | October 15, 2019 | SmallCapPower

A royalty agreement on a Saskatchewan project propelled shares of a potash junior sharply higher Tuesday. Here’s some small stocks making big moves on Tuesday, October 15, 2019 (as of 4 pm EST):

Gensource Potash Corporation (TSXV:GSP) shares climbed 26% to $0.145 on Tuesday after the potash junior announced a US$6.0 million royalty sale with respect to its Tugaske Potash Project to be developed within Gensource’s Vanguard Area in Saskatchewan.

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As well, shares of OceanaGold Corporation (TSX:OGC) slipped 13% to $3 as the gold miner said it has revised its full-year production guidance downward to 460,000 and 480,000 ounces of gold along with 10,000 to 11,000 tonnes of copper, due to the local government unit blockade impacting its operations in the Philippines.

CannTrust Holdings Inc. (TSX:TRST), meanwhile, reported that it continues to make what it calls “significant progress” on its commitment to take any and all actions required to both bring the Company into full regulatory compliance and seek the full reinstatement of its licenses, which includes the decision to destroy approximately $12 million of biological assets and about $65 million worth of inventory that was not authorized by CannTrust’s license. CannTrust Holdings stock popped 52% to $1.82 following the announcement.

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