Zinc Junior Moves Higher on PEA Status Update

Fireweed Zinc Ltd. (TSXV:FWZ), a zinc junior, climbed after announcing that the Preliminary Economic Assessment (PEA) on the Macmillan Pass Zinc Project will be completed in Q2/2018

Sean Mason | January 19, 2018 | SmallCapPower

An upcoming Preliminary Economic Assessment (PEA) had a few speculators eyeing a zinc junior Friday. Here’s some small stocks making big moves on Friday, January 19, 2018 (as of 4 pm EST):

Fireweed Zinc Ltd. (TSXV:FWZ) shares jumped 22% to $1.75 on Friday after the zinc junior announced that the Preliminary Economic Assessment (PEA) on the Macmillan Pass Zinc Project in the Yukon is expected to be completed in Q2/2018.

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As well, shares of Orvana Minerals Corp. (TSX:ORV) slipped 11% to $0.24 as the miner said Q1 2018 gold production at its El Valle Mine in Spain decreased by 29% compared to Q4 2017, due primarily to slower than expected oxide development progress impacted by unplanned equipment issues and unexpected buildup of in-process gold in the mill.

Minaurum Gold, Inc. (TSXV:MGG) stock, meanwhile, continued to move higher Friday, up 14% to $0.37 following a 23% gain on Thursday, after the precious metals explorer reported results from its on-going drill program at the Alamos Silver Project in Mexico, which included 8.25 metres grading 1,760 g/t silver, 1.6% copper, 1.5% lead, and 2.6% zinc.

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

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