Minerals Explorer Moves Higher on Drilling Announcement

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EnGold Mines Ltd. (CVE:EGM), a minerals explorer, climbed after announcing that a second drill is set to go on its Lac La Hache Property in British Columbia

Sean Mason | March 7, 2017 | SmallCapPower

Follow-up drilling generated a bit of speculation in a minerals explorer Tuesday. Here’s some small stocks making big moves on Tuesday, March 7, 2017 (as of 4 pm EST):

EnGold Mines Ltd. (TSXV: EGM) shares jumped 20% to $0.30 on Tuesday after the minerals explorer announced that a second drill is mobilizing to follow up on a recently announced discovery drill hole and is expected to be set up and drilling in the new area on or before March 13, 2017, on its 100% owned Lac La Hache Property in British Columbia.

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As well, shares of Spectral Medical Inc. (TSX: EDT) rose 9% to $0.35 as the biotech company said it has received approval of the third module of its rolling PMA submission from the United States Food and Drug Administration (FDA) for Toraymyxin, a product for the treatment of patients with septic shock.

WesternOne Inc. (TSX: WEQ), meanwhile, reported the sale of a significant portion of the assets of its subsidiary Britco LP, including its modular space rental business and its majority equity interest in Britco’s modular building manufacturing operations in the United States, for total cash consideration of approximately $45.1 million. WesternOne stock popped 39% to $2.02 following the announcement.

Finally, Canada Jetlines Ltd. (TSXV: JET) shares surged 127% to $0.295 on its first day of trading Tuesday. Canada Jetlines is positioning itself as an ultra-low cost carrier airline in Canada.

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