Precious Metals Junior Shines on PEA Results

Minera Alamos Inc. (TSXV:MAI), a precious metals junior, rose after announcing results of a PEA for its La Fortuna Project in Mexico

Sean Mason | August 17, 2018 | SmallCapPower

Results of a Preliminary Economic Assessment continued to power shares of a precious metals junior Friday. Here’s some small stocks making big moves on Friday, August 17, 2018 (as of 4 pm EST):

Minera Alamos Inc. (TSXV:MAI) shares continued to move higher Friday, up as much as 4%, following a 19% gain on Thursday, after the precious metals junior announced results of an independent Preliminary Economic Assessment (PEA) for its La Fortuna Project in Mexico. Highlights included estimated All-In Sustaining Costs of US$440 per gold ounce [net of by-product credits] as well as an internal rate of return of 93%.

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In addition, shares of SEMAFO Inc. (TSX:SMF) slipped as much as 2% before ending unchanged at $2.93 as the gold miner said two of its employees died after being shot by armed bandits while riding a bus from the town of Bobo-Dioulasso to the Mana Mine in Burkina Faso.

EnerSpar Corp. (TSXV:ENER), meanwhile, reported that it continues to pursue the possibility of an alternative transaction and is now focused on two worthy propositions. The Company added that it has elected Donal Carroll, who is currently interim CFO of FSD Pharma Inc., to its Board of Directors. EnerSpar stock moved up 33% to $0.06 following the announcement.

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

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