Resource Explorer Climbs on Niobium Project Update

Niobay Metals Inc. (TSXV:NBY), a resource explorer, rose after announcing an updated Mineral Resource estimate for its James Bay Niobium Project

Sean Mason | July 9, 2020 | SmallCapPower

More niobium tonnage was good news for shareholders of a resource explorer Thursday. Here’s some small stocks making big moves on Thursday, July 9, 2020 (as of 4 pm EST):

Niobay Metals Inc. (TSXV:NBY) shares jumped 6% to $0.55 on Thursday after the resource explorer announced an updated Mineral Resource estimate for its James Bay Niobium Project in northern Ontario, which showed an increase in tonnage of 33.6% and 13.8%, respectively, for the Inferred and Indicated Resources categories.

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As well, shares of Gatekeeper Systems Inc. (TSXV:GSI) fell 12% to $0.46 as the provider of video solutions for public transport said approximately $1.8 million of its previously-announced $6.3 million contract was included in its Q3 2020 financial results.

Vizsla Resources Corp. (TSXV:VZLA), meanwhile, reported that Eric Sprott has agreed to invest C$10 million into the Company via a $25 million bought-deal private placement at a price of C$1.87 per unit, which would give him an 11.3% equity stake in Vizsla. Vizsla Resources stock moved up 21% to $2.65 following the announcement.

Finally, Inca One Gold Corp. (TSXV:IO) shares gained 20% to $0.65 after the junior gold miner announced that it has, through its subsidiary, signed a one-year Ore Purchase Agreement for 40,000 tonnes of gold-bearing material with a subsidiary of PPX Mining Corp.

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

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