Resource Junior Climbs on Drill Results

Sun Metals Corp. (TSXV:SUNM), a resource junior, sparkled after announcing drill results from its Stardust project

Sean Mason | October 25, 2018 | SmallCapPower

Polymetallic assays seemed to impress more than a few resource junior speculators Thursday. Here’s some small stocks making big moves on Thursday, October 25, 2018 (as of 11:30 am EST):

Sun Metals Corp. (TSXV:SUNM) shares jumped 47% to $0.235 on Thursday after the resource junior announced drill results from the Canyon Creek Skarn zone at its Stardust project in British Columbia, which included 36.50 metres grading 3.89% copper, 4.47 grams per tonne (g/t) gold and 84.6 g/t silver.

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As well, shares of Celestica Inc. (TSX:CLS) fell 15% to $12.28 as the technology company said its Q3 IFRS EPS came in at US$0.06 per share, compared to $0.24 per share for the third quarter of 2017, falling short of analyst expectations.

New Gold Inc. (TSX:NGD), meanwhile, reported third-quarter revenue that increased 58% year over year to $147 million along with an operating margin that rose by $13 million from the same period last year. New Gold stock popped 17% to $1.05 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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