Shares of Galway Metals Inc. (TSXV:GWM) have soared more than 232% since May 1, 2020
SmallCapPower | July 21, 2020: More than a few investors have been bidding up shares of Galway Metals Inc. (TSXV:GWM) over the past couple months, sending the stock more than 232% higher since May 1, 2020, to its current price of $1.13.
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Galway has two gold projects in Canada: Clarence Stream, an emerging gold district in New Brunswick and; Estrades, the former producing gold, zinc, copper and silver VMS mine in Quebec.
Specifically, though, investors have honed in on drill results from Clarence Stream. On April 29, 2020, the Company reported drill results from the George Murphy Zone, which included 6.5 grams per tonne (g/t) gold over 14.05 metres. And, on June 1, 2020, results from the Richard Zone included 6.2 g/t gold over 38.5 metres.
At the end of June 2020, Galway Metals closed a $17.35 million equity financing, $3 million of which was purchased by Eric Sprott. The funds will be earmarked for further exploration.
Galway Metals shares have gained more than 237% year to date.
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