Fireweed Zinc Ltd. (TSXV:FWZ), a zinc junior, powered higher after announcing “positive results” from metallurgical tests along with an upcoming PEA
Sean Mason | May 15, 2018 | SmallCapPower
Metallurgical test results and a pending PEA was good news for shareholders of a zinc junior Tuesday. Here’s some small stocks making big moves on Tuesday, May 15, 2018 (as of 4 pm EST):
Fireweed Zinc Ltd. (TSXV:FWZ) shares surged 20% to $1.89 on Tuesday after the zinc junior announced what it called “positive results” from metallurgical tests (the “global” composite zinc concentrate graded 58% zinc and 89% zinc recovery) conducted on the Macmillan Pass Zinc Project in the Yukon, which the Company said improved upon past metallurgical studies and will help inform the economics in its upcoming PEA results expected in the coming weeks.
As well, shares of Bri-Chem Corp. (TSX:BRY) sank 30% to $0.47 as the North American wholesale distributor and manufacturer of oil and gas drilling fluids said its first-quarter operating earnings fell 48% to $0.970 million, which the Company attributed to higher operating costs in new Texas regional warehouses.
Golden Reign Resources Ltd. (TSXV:GRR), meanwhile, reported that it has entered into an agreement to acquire all of the issued and outstanding shares of Marlin Gold Mining Ltd. (TSXV:MLN) in an all-stock transaction. The final share exchange ratio will be determined by Golden Reign and Marlin, together with their respective financial advisers, in connection with entering into definitive documentation. Golden Reign Resources stock moved up 21% to $0.265 following the announcement.
Finally, Goliath Resources Ltd. (TSXV:GOT) shares gained 22% to $0.14 after the precious metals explorer announced that it has begun its 2018 exploration program with the mobilization of a geophysical crew to conduct surveys on its Bingo, Golddigger, Copperhead, and Lucky Strike properties within the Golden Triangle and Skeena Arch of British Columbia in preparation for drilling.
Ubika Research/SmallCapPower has received compensation from Goliath Resources Limited. to provide analyst research coverage. For full disclosure please visit here >>
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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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