‘Eye-popping’ copper assays caught the attention of more than a few resource junior speculators Wednesday. Here’s some small stocks making big moves on Wednesday, November 14, 2018 (as of 11:30 am EST):
Sun Metals Corp. (TSXV:SUNM) shares powered 20% higher to $0.33 on Wednesday after the resource junior announced assay results from the Stardust project in British Columbia, which returned a total 100-metre intersection grading 2.51% copper, 3.03 grams per tonne (g/t) gold, and 52.5 g/t silver.
As well, shares of LXRandCo, Inc. (TSX:LXR) climbed 28% to $0.32 as the retailer of branded vintage luxury handbags and accessories said its third-quarter net revenue rose 36% to $9.9 million.
Tahoe Resources Inc. (TSX:THO), meanwhile, reported that it has agreed to be acquired by Pan American Silver Corp. (TSX:PAAS) in a cash or stock deal valued at US$1.07 billion. Tahoe Resources shareholders may choose to receive $3.40 in cash or 0.2403 PAAS shares for each Tahoe share held plus rights to a contingent payment tied to the restart of the Escobal mine in Guatemala. Tahoe Resources stock popped 49% to $4.32 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Sun Metals Corp. (TSXV:SUNM) shares powered 20% higher to $0.33 on Wednesday after the resource junior announced assay results from the Stardust project in British Columbia, which returned a total 100-metre intersection grading 2.51% copper, 3.03 grams per tonne (g/t) gold, and 52.5 g/t silver.
