Resource Junior Surges on Silver Results

Vizsla Resources Corp. (TSXV:VZLA), a resource junior, climbed after announcing drill results from the Panuco project

Sean Mason | June 24, 2020 | SmallCapPower

More than a few speculators took a shine to silver equivalent drill results Wednesday. Here’s some small stocks making big moves on Wednesday, June 24, 2020 (as of 4 pm EST):

Vizsla Resources Corp. (TSXV:VZLA) shares jumped 68% to $0.74 on Wednesday after the resource junior announced the first drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Mexico, which included 1,544 grams per tonne (g/t) silver equivalent over 8.2 metres.

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As well, shares of VIVO Cannabis Inc. (TSX:VIVO) gained 4% to $0.235 as the Canadian cannabis company said it and its subsidiaries have entered into both a product supply agreement and a clinic services agreement with Medical Cannabis by Shoppers, a subsidiary of Shoppers Drug Mart.

IBEX Technologies Inc. (TSXV:IBT), meanwhile, reported third-quarter revenue that rose to $1,679,409 from $668,509 a year earlier, while recording positive EBITDA of $769,335 compared with negative EBITDA of $452,119 during the same period last year. The Company manufactures and markets proteins for biomedical use. IBEX stock moved up 13% to $0.27 following the announcement.

Finally, Turmalina Metals Corp. (TSXV:TBX) shares rose 5% to $1.36 after the junior explorer announced that it has added a second drill rig to the ongoing program at its San Francisco gold-silver-copper project in Argentina.

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

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