Resource Junior Jumps on Gold Vein Development

RNC Minerals (TSX:RNX), a resource junior, shot up after announcing the doubling of the gold structure strike length at its Beta Hunt Mine

Sean Mason | September 17, 2018 | SmallCapPower

A strike length increase involving a popular gold vein propelled shares of a resource junior Monday. Here’s some small stocks making big moves on Monday, September 17, 2018 (as of 4 pm EST):

RNC Minerals (TSX:RNX) shares surged 43% to $0.40 on Monday after the resource junior announced that it has doubled the strike length of the ‘Fathers-Day Vein’ at its Beta Hunt Mine in Australia to approximately 10 metres. A 43kg specimen stone containing an estimated 1,100 ounces of gold and a second 7kg specimen containing 190 ounces was recovered from this most recent development.

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As well, shares of Valeura Energy Inc. (TSX:VLE) slipped 16% to $3.02 as the oil and gas producer/explorer said initial production rates at the Yamalik-1 well in Turkey showed a flow rate of 2.53 mmcf/d through a 20/64″ choke with a wellhead pressure of 2,535 psi at the end of 24 hours of continuous production, with gas rates currently at 1.40 mmcf/d four days into the production test.

Wallbridge Mining Company Limited (TSX:WM), meanwhile, reported that it has closed a non-brokered private placement at $0.13 per unit for gross proceeds of $3.9 million involving Eric Sprott. Wallbridge Mining stock moved up 7% to $0.145 following the announcement.

Finally, Snipp Interactive Inc. (TSXV:SPN) shares gained 25% to $0.075 after the provider of digital marketing promotions, rebates and loyalty solutions announced that it has received broad interest in its solutions and its Cannabis Marketing Resource Center from FSD Pharma.

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

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