Gold Penny Stock Shines on Sample Results

Gold Penny stock GoldQuest Mining Corp. (CVE:GQC) identifies surface high-grade gold in the Dominican Republic

Sean Mason | May 17, 2016 | SmallCapPower

High-grade surface samples generated a bit of speculator excitement Tuesday, while others were encouraged by a royalty purchase. Here’s some small stocks making big moves on Tuesday, May 17, 2016 (as of 4 pm EST):

GoldQuest MininGQC logog Corp. (CVE:GQC) shares jumped 21% to $0.375 on Tuesday after the mineral exploration company announced that its geological field crews have identified surface high-grade gold during detailed mapping and sampling of a mineralized trend on its 100%-owned Loma El Cachimbo license area in the Dominican Republic. Sample results included 167 g/t gold, 2.2% copper and >300 g/t silver.

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As well, shares of gold penny stock GoGold Resources Inc. (TSE:GGD) slid 16% to $1.24 as the precious metals producer said it has agreed to complete a bought-deal financing involving 7.7 million units of the Company at a price of C$1.30 per unit, for gross proceeds of approximately C$10 million.

Homestake Resource Corporation (CVE:HSR), meanwhile, reported that it has purchased Teck Resources Ltd.’s 2% net smelter return royalty and ancillary rights on mineral claims forming a portion of the Homestake Ridge property in British Columbia. Homestake Resource stock moved up 19% to $0.095 following the announcement.

Finally, Everton Resources Inc. (CVE:EVR) shares climbed 27% to $0.07 after the junior explorer announced that it has entered into an option agreement to acquire a 100% interest in the Blue Sky Jackpot lithium property located in the Thunder Bay Mining District of Ontario.

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