Resource Junior Shines on Gold Delivery Deal

Wallbridge Mining Company Limited (TSX:WM), a resource junior, glistered after announcing agreements to deliver 10,870 ounces of gold

Sean Mason | April 4, 2018 | SmallCapPower

A multi-million-dollar gold delivery agreement propelled shares of a resource junior Wednesday. Here’s some small stocks making big moves on Wednesday, April 4, 2018 (as of 4 pm EST):

Wallbridge Mining Company Limited (TSX:WM) shares climbed 17% to $0.07 on Wednesday after the resource junior announced that it has entered into agreements to deliver 10,870 ounces of gold to Auramet International LLC, at a price of C$1720 per ounce, for proceeds of $18,696,400.

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As well, shares of Loncor Resources Inc. (TSX:LN) jumped 24% to $0.105 as the gold explorer said it has entered into a binding term sheet with Resolute Mining Limited, whereby Resolute will acquire a total of 51 million common shares of Loncor.

Alio Gold Inc. (TSX:ALO), meanwhile, reported results of the second and third drill hole from its surface drill program at its 100% owned Ana Paula project in Mexico, which included 2.03 g/t gold over 48.2 metres. Alio Gold stock moved up 7% to $2.58 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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