Gold Explorer Shines on Joint Venture Agreement

Eagle Plains Resources Ltd. (CVE:EPL), a gold explorer, has signed an agreement with Silver Standard Resources Inc. (TSE:SSO)

Sean Mason | October 6, 2016 | SmallCapPower

A big-time joint venture deal was good news for shareholders of a gold explorer Thursday. Here’s some small stocks making big moves on Thursday, October 6, 2016 (as of 11:30 am EST):

Eagle Plains Resources Ltd. (CVE:EPL) shares jumped 26% to $0.145 on Thursday after the gold explorer announced that it has signed an agreement in which Silver Standard Resources Inc. (TSE:SSO) may earn up to an 80% interest in Eagle Plains’ 100% owned Fisher Project in Saskatchewan, which is located adjacent to and directly south of Silver Standard’s existing Seabee/Santoy mining operations, by spending $4 million in exploration expenditures over four years (to earn a 60% interest) and making a cash payment of $3 million to earn the additional 20%.

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As well, shares of Intermap (TSE:IMP) slipped 11% to $0.08, after sinking 36% on Wednesday, as the provider of location-based solutions said its CEO, Todd Oseth, and CFO, Richard Mohr, are no longer with the Company.

Aurinia Pharmaceuticals Inc. (TSE:AUP), meanwhile, reported that 24-week data in all 10 patients from the AURION study, an open-label exploratory study to assess the short-term predictors of response using voclosporin in combination with mycophenolate mofetil and oral corticosteroids in patients with active lupus nephritis, showed demonstrated increased remission rates over time. Aurinia Pharmaceuticals stock popped 34% to $7.17 following the announcement.

Finally, Canopy Growth Corporation (TSE:CGC) shares rose 10% to $5.48 after the cannabis producer announced that its wholly-owned subsidiary, Tweed Inc., is teaming up with Snoop Dogg to distribute the Leafs by Snoop strain of cannabis in Canada this October.

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