Gold Junior Climbs on Drill Results

Equitas Resources Corp. (CVE:EQT), a gold junior, surged after announcing high grade gold mineralization at its Cajueiro Gold Project in Brazil

Sean Mason | July 6, 2016 | SmallCapPower

Shares of a gold junior shone on high-grade results Wednesday, while a loss weighed on a biopharma play. Here’s some small stocks making big moves on Wednesday, July 6, 2016 (as of 4 pm EST):

Gold junior Equitas Resources Corp. (CVE:EQT) shares jumped 35% to $0.115 on Wednesday after announcing the discovery of what it called near-surface, high grade gold mineralization at the Baldo Zone of its 100%-owned Cajueiro Gold Project in Brazil, which included 24.26 g/t gold over 2 metres.

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As well, shares of Theratechnologies Inc. (TSE:TH) fell 14% to $2.44 as the specialty pharmaceutical company said it swung to a fiscal second-quarter loss of $383,000, after reporting a profit during the same period last year.

Thompson Creek Metals Company Inc. (TSE:TCM), meanwhile, reported that it agreed to be acquired by Centerra Gold Inc. (TSE:CG) in an all-stock transaction valued at $175.8 million, or about $0.79 for each Thompson Creek share. Centerra will also assume Thompson Creek’s debt obligations, bringing the value of the deal above US$1 billion. Thompson Creek Metals stock moved up 14% to $0.73 following the announcement.

In addition, shares of Cyprium Mining Corporation (CVE:CUG) gained 29% to $0.09 as the miner said it has started production at the Potosi silver mine located in Mexico.

Finally, Electrovaya Inc. (TSE:EFL) shares surged 16% to $4.15 after the manufacturer of Lithium Ion Super Polymer batteries for energy storage announced that its wholly-owned subsidiary, Litarion GmbH, signed a Memorandum of Understanding with a major OEM in the e-mobility industry for the delivery of Battery modules starting in 2017.

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