Precious Metals Explorer Shines on Investment Announcement

Volcanic Gold Mines Inc. (TSXV:VG), a precious metals explorer, gained ground after announcing that Silvercorp Metals will acquire a 19.9% ownership stake

Sean Mason | June 25, 2020 | SmallCapPower

A Silvercorp Metals investment lifted shares of a precious metals explorer Thursday. Here’s some small stocks making big moves on Thursday, June 25, 2020 (as of 4 pm EST):

Volcanic Gold Mines Inc. (TSXV:VG) shares climbed 48% to $0.46 on Thursday after the precious metals explorer announced that Silvercorp Metals will take a 19.9% ownership stake in VG via a non-brokered private placement at a price of $0.25 per unit.

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As well, shares of GT Gold Corp. (TSXV:GTT) rose 12% to $1.99 as the gold explorer said it is set to begin the 2020 exploration season at the Tatogga Property located in the Golden Triangle region of British Columbia, adding that it plans to release the initial mineral resource estimate for the Saddle North gold-rich copper porphyry discovery after market close on Monday, July 6, 2020.

Maxar Technologies Inc. (TSX:MAXR), meanwhile, reported that it has agreed to acquire 3D data and analytics firm Vricon, Inc. for approximately $140 million, or about $115 million net of estimated cash at closing. Maxar Technologies stock moved up 7% to $25.47 following the announcement.

Finally, Amex Exploration Inc. (TSXV:AMX) shares gained 14% to $2.40 after the gold junior announced multiple drill results from the Eastern Gold Zone on its 100% owned Perron property in Quebec, which included 28.97 grams per tonne (g/t) gold over 5.60 metres.

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

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