Resource Junior Powers Up on Sprott Investment

Discovery Metals Corp. (TSXV:DSV), a resource junior, rose after Eric Sprott agreed to invest $7.7 million in the Company

Sean Mason | July 18, 2019 | SmallCapPower

A big investment from Eric Sprott attracted speculators to shares of a resource junior Thursday. Here’s some small stocks making big moves on Thursday, July 18, 2019 (as of 4 pm EST):

Discovery Metals Corp. (TSXV:DSV) shares climbed 19% to $0.31 on Thursday after the resource junior announced that it intends to raise $9 million via a non-brokered private placement, with Eric Sprott agreeing to invest $7.7 million. This investment by Mr. Sprott would give him a 19.9% equity stake in the Company.

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As well, shares of Neptune Wellness Solutions Inc. (TSX:NEPT) jumped 17% to $7.43 as the cannabinoids extraction company said it has completed a US$41.4 million private placement, US$5.0 million of which came from the Company Chairman in addition to its CEO.

Honey Badger Exploration Inc. (TSXV:TUF), meanwhile, reported assay results for the first six holes of its 2019 drilling program that was completed in June at its Thunder Bay Silver-Cobalt Project in northern Ontario, which included 1,025 g/t silver equivalent over four metres (core length). Honey Badger Exploration stock moved up 17% to $0.035 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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