Resource Junior Moves Up on Re-Scoping Results

M3 Metals Corp. (TSXV:MT), a resource junior, gained ground after completing a re-scoping study on its Block 103 Iron Ore Project

Sean Mason | January 27, 2020 | SmallCapPower

A large estimated cap-ex improvement boosted shares of a resource junior Monday. Here’s some small stocks making big moves on Monday, January 27, 2020 (as of 11:30 am EST):

M3 Metals Corp. (TSXV:MT) shares rose as much as 9% on Monday after the resource junior announced that it has completed a re-scoping study on its 100% owned Block 103 Iron Ore Project in Newfoundland and Labrador, which showed an 85% reduction in the projected capital costs on the Project from approximately C$6 billion to $840 million.

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As well, shares of Quarterhill Inc. (TSX:QTRH) gained 8% to $2.04 as the technology holding company said its Wi-LAN Inc. division was awarded $85.23 million in damages owed to it by Apple Inc. in a damages-only re-trial in the United States District Court for the Southern District of California.

LexaGene Holdings, Inc. (TSXV:LXG), meanwhile, reported that its technology is ideally suited to identify novel pathogens, such as coronavirus, this after the Company said it has received many inquiries regarding the ability of LexaGene’s technology for detecting coronavirus. LexaGene Holdings stock moved up 10% to $0.77 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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