Gold Junior Shines on Assay Results

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.

Win Big With Our Small Cap Picks

 

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.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

DISCLAIMER

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source.