Resource Junior Shines on Gold Recovery

RNC Minerals (TSX:RNX), a resource junior, moved up after announcing that an estimated 1,750 ounces of gold has been recovered from its Beta Hunt Mine

Sean Mason | September 24, 2019 | SmallCapPower

Coarse gold recovery Down Under lifted shares of a popular resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, September 24, 2019 (as of 4:00 pm EST):

RNC Minerals (TSX:RNX) shares climbed 12% to $0.385 on Tuesday after the resource junior announced that an estimated 1,750 ounces of coarse gold has been recovered from 274 kg of rock at its Beta Hunt Mine in Western Australia.

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As well, shares of Aleafia Health Inc. (TSX:ALEF) rose 2% to $0.93 as the Canadian cannabis company said it expects to achieve positive net income for the three month period ended September 30, 2019 (Q3). Aleafia added that its active, registered patients have increased 42% since July to more than 10,000.

Condor Petroleum Inc. (TSX:CPI), meanwhile, reported that its wholly-owned subsidiary, Falcon Oil & Gas Ltd, has entered into a binding agreement to sell Falcon’s 100% interests in the Shoba and Taskuduk production contracts in Kazakhstan and associated field equipment for US$24.6 million. Condor Petroleum stock popped 92% to $0.25 following the announcement.

Finally, Pure Global Cannabis Inc. (TSXV:PURE) shares jumped 4% to $0.13 after the cannabis company announced the signing of a Joint Development Agreement with KMT-Hansa Corp. for large-scale hemp manufacturing in China.

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

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