More than a few speculators took a shine to shares of a junior explorer Monday following the release of gold results. Here’s some small stocks making big moves on Monday, December 9, 2019 (as of 4 pm EST):
MacDonald Mines Exploration Ltd. (TSXV:BMK) shares climbed 6% to $0.09 on Monday after the junior explorer announced drill results from four holes of the now-completed Fall 2019 drilling program at its SPJ Property near Sudbury, Ontario, which included 7.99 grams per tonne (g/t) gold over 26.2 metres.
As well, shares of Pan Orient Energy Corp. (TSXV:POE) plunged 58% to $1.01 as the oil and gas producer/explorer said it has concluded, following drilling of the Anggun-1X exploration well in Indonesia, that the Batu Raja formation target interval proved to be a tight, low permeability limestone with no reservoir potential and the Company plans to immediately plug and abandon the well and withdraw from the East Jabung Production Sharing Contract at the expiry of the current contract year in January 2020.
Victoria Gold Corp. (TSXV:VIT), meanwhile, reported assay results from the 2019 Nugget Zone surface trenches in the Yukon Territory, which included 6.64 grams per tonne (g/t) gold over 10.0 meters. Victoria Gold stock moved up 8% to $8.70 following the announcement.
Finally, Wallbridge Mining Company Limited (TSX:WM) shares rose 6% to $0.83 after the gold junior announced that Kirkland Lake Gold CEO Tony Makuch has joined the Company’s Board of Directors.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
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. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
MacDonald Mines Exploration Ltd. (TSXV:BMK) shares climbed 6% to $0.09 on Monday after the junior explorer announced drill results from four holes of the now-completed Fall 2019 drilling program at its SPJ Property near Sudbury, Ontario, which included 7.99 grams per tonne (g/t) gold over 26.2 metres.
