Precious Metals Miner Moves Higher on Operations Update

SSR Mining Inc. (TSX:SSRM), a precious metals miner, gained ground after announcing that it recorded adjusted attributable net income of US$5.7 million during its first quarter

Sean Mason | May 11, 2018 | SmallCapPower

An impressive quarter boosted shares of a precious metals miner Friday. Here’s some small stocks making big moves on Friday, May 11, 2018 (as of 4 pm EST):

SSR Mining Inc. (TSX:SSRM) shares gained 4% to $13.86 on Friday after the precious metals miner announced that it produced 78,483 gold equivalent ounces at cash costs of US$766 per payable ounce, generating operating cash flow of US$11.0 million and adjusted attributable net income of US$5.7 million, or $0.05 per share, during the first quarter of 2018.

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As well, shares of Platinum Group Metals Ltd. (TSX:PTM) fell 19% to $0.175 as the miner said it plans to raise approximately US$17.1 million in an equity financing at a price of US$0.15 per unit.

Neovasc Inc. (TSX:NVCN), meanwhile, reported that its first-quarter revenue slid 77% to US$339,922. Neovasc stock dropped 23% to $0.05 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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