Precious Metals Explorer Shines on Sample Results

Vizsla Resources Corp. (TSXV:VZLA), a precious metals explorer, moved up after announcing results from the Panuco project in Mexico

Sean Mason | November 12, 2019 | SmallCapPower

Gold and silver channel sample results attracted the attention of a few speculators to shares of a precious metal explorer Tuesday. Here’s some small stocks making big moves on Tuesday, November 12, 2019 (as of 4 pm EST):

Vizsla Resources Corp. (TSXV:VZLA) shares gained 10% to $0.46 on Tuesday after the precious metals explorer announced channel sampling results from five veins at the recently-acquired Panuco project in Mexico, which included 866 grams per tonne (g/t) silver equivalent (548.4 g/t silver and 3.97 g/t gold) over 5.95 metres.

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As well, shares of Organigram Holdings Inc. (TSX:OGI) slipped 20% to $3.57 as the Canadian cannabis company said it expects its fourth-quarter net revenue to amount to $16.3 million, down from $24.8 million during Q3, citing the lack of a sufficient retail network and slower-than-expected store openings in Ontario along with increased industry supply.

Namaste Technologies Inc. (TSXV:N), meanwhile, reported that its wholly-owned subsidiary, CannMart Inc., has entered into a supply agreement with the Ontario Cannabis Store in addition to the Saskatchewan Liquor & Gaming Authority. Namaste Technologies stock moved up 7% to $0.40 following the announcement.

Finally, Xebec Adsorption Inc. (TSXV:XBC) shares added 2% at $2.13 after the clean energy solutions provider announced a 136% surge in its third-quarter revenue to a record $13.2 million, while swinging to a net profit of $1.0 million from a net loss of $400,000 during the same period last year.

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

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