Silver Junior Shines on Ore Test Results

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Bayhorse Silver Inc. (CVE:BHS), a silver junior, moved higher after announcing ore sorting test results of the Bayhorse Silver Mine mineralization

Sean Mason | August 10, 2017 | SmallCapPower

Investor interest in a silver junior picked up Thursday following better than expected ore test results. Here’s some small stocks making big moves on Thursday, August 10, 2017 (as of 4 pm EST):

Bayhorse Silver Inc. (TSXV: BHS) shares climbed 18% to $0.20 on Thursday after the silver junior announced test results for the ongoing ore sorting of the Bayhorse Silver Mine mineralization, which established a 2.5 oz/ton cut-off grade and an 86% rejection of the mass, which the Company called “far better than expected.” Bayhorse added that the recovery of 14% of the mass grading 261.61 g/t silver represented an upgrade of 275%.

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As well, shares of Primero Mining Corp. (TSX: P) plunged 47% to $0.245 as the precious metals miner said it has agreed to sell its interest in the Black Fox mine and associated assets located near Timmins, Ontario, to McEwen Mining Inc. for $35 million in cash. Primero also announced weaker-than-expected Q2 revenue of $16.2 million.

TomaGold Corporation (TSXV: LOT), meanwhile, reported that IAMGOLD has agreed to subscribe by way of private placement 27,777,777 common shares of TomaGold at a price of $0.09 per share for gross proceeds of approximately $2.5 million. Upon completion of the transaction, IAMGOLD will own approximately 19.98% of the issued and outstanding common shares of TomaGold on a non-diluted basis. TomaGold stock moved up 13% to $0.085 following the announcement.

Finally, Avigilon Corporation (TSX: AVO) shares jumped 12% to $16.00 after the security solutions provider announced second-quarter revenue that increased 16% to $99.4 million, while recording record cash flow from operations of $20.2 million, up from $12.0 million in Q2 2016.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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