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.

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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.

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