Precious Metals Explorer Shines on Property LOI

Published:

CANEX Metals Inc. (TSXV:CANX), a precious metals explorer, jumped after announcing a letter of intent to acquire a gold property in Arizona

Sean Mason | May 23, 2019 | SmallCapPower

A gold property acquisition letter of intent sparked speculation in shares of a precious metals explorer Thursday. Here’s some small stocks making big moves on Thursday, May 23, 2019 (as of 4 pm EST):

CANEX Metals Inc. (TSXV:CANX) shares climbed 38% to $0.055 on Thursday after the precious metals explorer announced that it has signed a letter of intent with a U.S. based prospector to acquire a 100% interest in the Gold Range Property in Arizona in exchange for staged cash payments over four years totaling US$90,000 and completing exploration expenditures of US$80,000.

Win Big With Our Small Cap Picks

 

As well, shares of Jiulian Resources Inc. (TSXV:JLR) slid 39% to $0.04 as the junior explorer released results for the remaining seven diamond drill holes at its wholly-owned Big Kidd Property in British Columbia, which included 0.46 g/t gold equivalent over 204 metres. The Company, however, added that insufficient data is available at this time to state the true thickness of the mineralized intervals.

Neovasc Inc. (TSX:NVCN), meanwhile, reported that the International Journal of Cardiology has published a peer reviewed article regarding long term sustained efficacy and safety of the Company’s Reducer therapy in 50 patients suffering from refractory disabling angina, which showed that the Reducer has a sustained therapeutic effect at two years across a large patient population. Neovasc stock popped 14% to $0.72 following the announcement.

Finally, Progressive Planet Solutions Inc. (TSXV:PLAN) shares rose as much as 10% after the zeolite producer announced that it has successfully launched a service of providing zeolite to Cannabis LPs in British Columbia so that they can denature residual cannabis as required before disposal per provincial regulations.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below:

Related articles

Recent articles