IDM Mining Ltd. (CVE:IDM), a gold junior, revealed assays from the Red Mountain gold project in British Columbia
Sean Mason | August 16, 2016 | SmallCapPower
Gold and silver drill results caught the attention of more than a few gold junior speculators Tuesday. Here’s some small stocks making big moves on Tuesday, August 16, 2016 (as of 4 pm EST):
IDM Mining Ltd. (CVE:IDM) shares climbed 15% to $0.235 on Tuesday after the gold junior announced assays from the first four underground core holes completed at the Red Mountain gold project in British Columbia, which included 9.24 g/t gold and 49.73 g/t silver over 20.35 meters true width.
As well, shares of Avigilon Corporation (TSE:AVO) sank 25% to $9.98 as the security solutions provider said it swung to a second-quarter net loss of $2.0 million from net income of $1.8 million during the same period last year. The Company added that its fiscal year 2016 actual Adjusted EBITDA margin and Adjusted Earnings Per Share may be materially lower, due to the effect of the Pricing Adjustment on unit volume and gross margin as a percentage of revenues.
Sparton Resources Inc. (CVE:SRI), meanwhile, reported that its 89.8% owned subsidiary, VanSpar Mining Inc., has agreed to acquire JD Holding, a Vanadium Redox Battery manufacturer, for US$3.3 million. Sparton Resources stock moved up 33% to $0.08 following the announcement.
Finally, Cyprium Mining Corporation (CVE:CUG) shares gained 20% to $0.09 after the miner announced the start of production at the Potosi silver mine in Mexico.
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