Resource Junior Soars on Visible Gold Discovery

RNC Minerals (TSX:RNX), a resource junior, powered higher after announcing that it has intercepted and recovered visible coarse gold its Beta Hunt Mine

Sean Mason | September 24, 2018 | SmallCapPower

More visible gold sparked much speculation in shares of a resource junior Monday Here’s some small stocks making big moves on Monday, September 24, 2018 (as of 4pm EST):

RNC Minerals (TSX:RNX) shares surged 105% to $1.15 on Monday after the resource junior announced that a new exploration drive on 14 Level at its Beta Hunt Mine in Australia intercepted and recovered visible coarse gold, providing what the Company called further proof of concept that the structures containing the “Father’s Day Vein” discovery extend 200 metres (25 meters up dip and 180 meters along-strike) above the recently-announced Father’s Day Vein discovery.

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As well, shares of Garibaldi Resources (TSXV:GGI) slid 20% to $2.29 as the junior explorer released assays from the first holes of the continuing drill program at its 100%-owned Nickel Mountain Project in the Eskay Camp of British Columbia, which included 12.5 metres of 4.3% nickel and 2.7% copper.

GTEC Holdings Ltd. (TSXV:GTEC), meanwhile, reported that it has entered into a binding letter agreement with Pack4U Holdings (Canada) Ltd. to become its exclusive cannabis supplier within Canada’s National Pharmacy Distribution System. GTEC Holdings stock moved up 12% to $1.23 following the announcement.

Finally, HLS Therapeutics Inc. (TSXV:HLS) shares jumped 54% to $12.50 after the specialty pharmaceutical company announced that Amarin Corporation plc issued topline results from the Vascepa cardiovascular (CV) outcomes trial, REDUCE-IT, a global study of 8,179 statin-treated adults with elevated CV risk. REDUCE-IT met its primary endpoint, demonstrating an approximately 25% relative risk reduction. HLS has in-licensed the rights to Vascepa for the Canadian 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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