Resource Junior Moves Higher on Operations Update

Marifil Mines Limited (TSXV:MFM), a resource junior, rose after announcing plans for its property portfolio

Sean Mason | June 25, 2019 | SmallCapPower

A technical report and spinout announcement lifted shares of a resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, June 25, 2019 (as of 4 pm EST):

Marifil Mines Limited (TSXV:MFM) shares continued to gain ground Tuesday, up 14% to $0.16 following a 47% advance on Monday, after the resource junior announced that it continues to work towards the completion of a NI 43-101 technical report for its 51% owned San Roque gold property in Argentina. The Company added that its property portfolio is in the process of being reorganized to focus on precious metals, specifically gold, while its lithium and other commodity assets are being transferred into wholly-owned subsidiary corporate entities in preparation for public commercial spinouts.

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As well, shares of The Flowr Corporation (TSXV:FLWR) sank 20% to $5.69 as the Canadian cannabis company said it has initiated an underwritten public offering of its common shares for gross proceeds of approximately C$125 million.

CIBT Education Group Inc. (TSX:MBA), meanwhile, reported that one of its wholly-owned subsidiaries, Global Education City Management Corp, has signed a master lease with a Vancouver-based real estate developer for a residential rental property to be constructed in Metro Vancouver. CIBT Education stock moved up 26% to $0.69 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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