Resource Junior Powers Higher on Assay Results

Transition Metals Corp. (TSXV:XTM), a resource junior, jumped after announcing assay results from the Sunday Lake Platinum-Palladium Project

Sean Mason | April 29, 2019 | SmallCapPower

More than a few speculators took a shine to platinum group metals (PGM) assay results from a resource junior Monday. Here’s some small stocks making big moves on Monday, April 29, 2019 (as of 4 pm EST):

Transition Metals Corp. (TSXV:XTM) shares surged 63% to $0.155 on Monday after the resource junior announced assay results from the Sunday Lake Platinum-Palladium Project located 25 km north of Thunder Bay, Ontario, which included 41.2 metres of 5.51 g/t platinum group metals and 0.57% copper. North American Palladium Ltd. holds an option to earn up to a 75% interest in the property.

Watch: Transition Metals Project Has a Widespread Epithermal Gold System, CEO says

As well, shares of Black Diamond Group Limited (TSX:BDI) rose 12% to $2.42 as the provider of modular space solutions and workforce accommodations said its U.S. Workforce Solutions business unit has been awarded a $20 million rental contract.

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Khiron Life Sciences Corp. (TSXV:KHRN), meanwhile, reported that it has signed a Letter of Intent with Copservir Ltda., Colombia’s largest pharmacy chain with more than 900 pharmacies across 200 cities and municipalities, to distribute Khiron’s medical cannabis products across the country. Khiron Life Sciences stock moved up 18% to $3.70 following the announcement.

Finally, Organigram Holdings Inc. (TSXV:OGI) shares climbed 11% to $9.75 after the Canadian cannabis company announced that it has applied to list its common shares on the NASDAQ Global Select Market.

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

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