Penny Stock Coro Mining Corp. (TSE:COP) shares rise after intersecting “substantial copper mineralization”
Sean Mason | April 29, 2016 | SmallCapPower
Some speculators took a shine to copper mineralization Friday, while a gaming play lost ground. Find out which penny stock made big moves on Friday, April 29, 2016 (as of 4 pm EST):
Coro Mining Corp. (TSE:COP) shares jumped 107% to $0.145 on Friday after the copper project developer announced results from a recently-completed 16 hole, 2680m reverse circulation drilling program at its Marimaca copper project in Chile, which the company claims intersected “substantial copper mineralization in first eight holes.”
As well, shares of Poydras Gaming Finance Corp. (CVE:PYD) slid 33% to $0.04 as the regional slot route operator with about 2,400 revenue-generating gaming machines in Oklahoma and Texas said it swung to a fourth-quarter net loss of $981,101 compared with net income of $1,103,411 in Q3, while generating a 400% increase in its fiscal 2015 revenue to $8,159,580.
HudBay Minerals Inc. (TSE:HBM), meanwhile, reported more than 150% year-over-year growth in copper production in its first quarter of 2016. This penny stock stock moved up 10% to $6.26 following the announcement.
Finally, Cornerstone Capital Resources Inc. (CVE:CGP) rose 11% to $0.05 after the prospect generator announced drill results for the Cascabel copper-gold porphyry joint venture exploration project in Ecuador, which included 1145.6 metres of 0.63% copper and 0.78 g/t gold (1.25% CuEq) from 516 metres.
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