Resource Junior Rises on Gold Sample Results

Strategic Metals Ltd. (TSXV:SMD), a resource junior, gained ground after announcing partial results from its Mount Hinton property

Sean Mason | August 21, 2019 | SmallCapPower

Gold and silver sample assays from the Yukon sparked a bit of speculation in shares of a resource junior Wednesday. Here’s some small stocks making big moves on Wednesday, August 21, 2019 (as of 4 pm EST):

Strategic Metals Ltd. (TSXV:SMD) shares jumped 21% to $0.47 on Wednesday after the resource junior announced partial results from the first two phases of the 2019 exploration program at its wholly-owned Mount Hinton property in the Yukon, which included a sample that assayed 2340 g/t gold and 597 g/t silver.

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As well, shares of PetroTal Corp. (TSXV:TAL) climbed 13% to $0.265 as the oil and gas junior said the BN 95-1 well at the Bretaña field in Peru produced at an initial rate of 2,700 barrels of oil per day, exceeding management expectations.

Kinder Morgan Canada Limited (TSX:KML), meanwhile, reported that it has agreed to be acquired by Pembina Pipeline Corporation in an all-stock transaction. KML shareholders will receive 0.3068 shares of Pembina for each KML share held. Kinder Morgan Canada stock popped 32% to $14.45 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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