Uranium Junior Jumps on Initial Drill Findings

IsoEnergy Ltd. (TSXV:ISO), a uranium junior, charged higher after discovering strong radioactivity at its Larocque East property

Sean Mason | February 10, 2020 | SmallCapPower

Strong radioactivity moved the needle of the share price of a uranium junior Monday. Here’s some small stocks making big moves on Monday, February 10, 2020 (as of 4 pm EST):

IsoEnergy Ltd. (TSXV:ISO) shares powered 16% higher to $0.44 on Monday after the uranium junior announced that it has intersected two cases of strong radioactivity in initial drill holes of the winter drilling program at the Hurricane zone on the Company’s 100% owned Larocque East property in Saskatchewan’s Athabasca Basin. The Company added that geochemical assays are expected within four weeks.

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As well, shares of Acasti Pharma Inc. (TSXV:ACST) slid 27% to $0.75 as the biopharmaceutical company said it plans to seek FDA guidance before unblinding TRILOGY 2 data, which is expected to delay reporting of TRILOGY 2 topline results until calendar Q3, 2020. The Company added that an investigation is underway into unexpected and inconsistent findings that may have negatively impacted results reported in TRILOGY 1.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE), meanwhile, reported that it now anticipates an approximately 40% reduction in the Company’s operating and maintenance costs at its GPU mining facility in Sweden. HIVE Blockchain stock popped 36% to $0.395 following the announcement.

Medallion Resources Ltd. (TSXV:MDL) shares rose 10% to $0.11 after the rare earth junior announced that it has received inquiries from several rare-earth element (REE) refineries interested in receiving specifications and potential volumes of the Company’s REE concentrate product.

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

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