Gold Explorer Shines on Drill Results

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Azimut Exploration Inc. (CVE:AZM), a gold explorer, climbed after announcing drill results from the Eleonore South JV Property in Quebec

Sean Mason | May 2, 2017 | SmallCapPower

Quebec drill results for a gold explorer grabbed the attention of more than a few speculators Tuesday. Here’s some small stocks making big moves on Tuesday, May 2, 2017 (as of 4 pm EST):

Azimut Exploration Inc. (TSXV: AZM) shares jumped 26% to $0.34 on Tuesday after the gold explorer announced initial results of the first nine holes of a 14-hole (2,733-metre) diamond drilling program completed in early April on the Eleonore South JV Property in Quebec, which included 4.9 g/t gold over 45.0 metres.

As well, shares of Ballard Power Systems (TSX: BLDP) slipped 7% to $4.01 as the provider of clean energy products said its first-quarter revenue rose 39% to $22.7 million, while its per-share net loss for the quarter narrowed to $0.02 from $0.06 during the same period last year.

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Solar Alliance Energy Inc. (TSXV: SAN), meanwhile, reported that it has installed its first solar system as part of the recently-completed acquisition of a Los Angeles solar sales team and project pipeline. Solar Alliance Energy stock moved up 30% to $0.175 following the announcement.

Finally, Novra Technologies Inc. (TSXV: NVI) shares climbed 14% to $0.16 after the technology provider of products, systems and services for the distribution of multimedia broadband content announced that it has achieve profitability in the fourth quarter of 2016. The Company added that with over $2 million in sales order backlog at the beginning of 2017, it is well positioned to continue profitability for the first half of 2017.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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