Copper Penny Stock Climbs on Drill Results

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):

COP logoCoro 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.”

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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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