Resource Junior Climbs on Strategic Investment

QMX Gold Corporation (TSXV:QMX), a resource junior, rose after announcing a $6 million financing involving Eric Sprott

Sean Mason | February 25, 2020 | SmallCapPower

An investment from Eric Sprott powered shares of a resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, February 25, 2020 (as of 4 pm EST):

QMX Gold Corporation (TSXV:QMX) shares gained 22% to $0.14 on Tuesday after the resource junior announced a $6 million bought deal flow-through financing, at a price of $0.18 per unit, in which both Eric Sprott and O3 Mining Inc. are expected to subscribe.

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As well, shares of GoldON Resources Ltd. (TSXV:GLD) sank 37% to $0.48 as the gold explorer said initial Phase I drill results from its 100% owned Slate Falls Gold-Silver property in northern Ontario were “disappointing.”

New Gold Inc. (TSX:NGD), meanwhile, reported that it has agreed to sell a 46% free cash flow stake in its New Afton mine to Ontario Teachers’ Pension Plan for $300 million. New Gold stock moved up 11% to $1.32 following the announcement.

Finally, Else Nutrition Holdings Inc. (TSXV:BABY) shares jumped 10% to $1.06 after the provider of plant-based nutrition products announced that it is aiming to disrupt baby and child nutrition with its plant-based, non-dairy/non-soy products.

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

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