Minerals Explorer Moves Sharply Higher on Gold, Copper Assays

Mundoro Capital Inc. (TSXV: MUN), a minerals explorer, surged after announcing assay results from its Timok Complex in Serbia

Sean Mason | January 30, 2017 | SmallCapPower

Copper, gold assay results lifted shares of a minerals explorer Monday. Here’s some small stocks making big moves on Monday, January 30, 2017 (as of 4 pm EST):

Mundoro Capital Inc. (TSXV: MUN) shares climbed 7% to $0.155 on Monday after the minerals explorer announced assay results from drilling on the Skorusa target on its Timok Complex in Serbia, which included 63.4 metres of 0.46 g/t gold equivalent from 71.6 metres.

Win Big With Our Small Cap Picks


As well, shares of New Gold Inc. (TSX: NGD) sank 25% to $3.88 as the gold miner said Rainy River’s operating expense and all-in sustaining costs are well above the levels targeted once the Project reaches full capacity, and the $195 million increase in capital costs for Rainy River will negatively impact the Company’s liquidity.

Intermap (TSX: IMP), meanwhile, reported that it has entered into an agreement to provide multi-frequency, high resolution radar mapping. A milestone payment of $2.67 million is expected during the first quarter of 2017. Intermap stock moved up 20% to $0.09 following the announcement.

Finally, Ashburton Ventures Inc. (TSXV: ABR) shares surged 45% to $0.145 after the junior explorer announced that it has agreed to acquire a 100% interest in the Z-1 Zeolite Quarry/Mine in British Columbia, in consideration for 2 million common shares of ABR, a further 2 million common shares on the 12-month anniversary of the transaction, make cash payments totaling $20,000, and incur $500,000 in expenditures over a 12-month period.

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


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.