Erdene Resource Development Corp. (TSE:ERD), a precious metals explorer, got a lift from gold drill results at its Bayan Khundii Gold Project in Mongolia
Sean Mason | May 4, 2017 | SmallCapPower
More than a few speculators took a shine to shares of a precious metals explorer Thursday following gold drill results. Here’s some small stocks making big moves on Thursday, May 4, 2017 (as of 4 pm EST):
Erdene Resource Development Corp. (TSX: ERD) shares jumped 21% to $1.37 on Thursday after the precious metals explorer announced initial results from the 2017 drill program at its 100%-owned Bayan Khundii Gold Project in Mongolia, which included 80 metres of 6.0 g/t gold.
As well, shares of Wi-LAN Inc. (TSX: WIN) slid 18% to $2.22 as the patent licensing company said it will acquire VIZIYA Corporation, a software and services provider that helps companies optimize their asset performance, for a purchase price of about $40.5 million. Wi-LAN also released first-quarter financial results that fell short of analyst consensus estimates.
Hudbay Minerals Inc. (TSX: HBM), meanwhile, reported a first-quarter net loss that narrowed to $2.3 million from $15.8 million during the same period last year. The results, though, missed analyst expectations. Hudbay Minerals stock eased 5% to $7.41 following the announcement.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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. To read more of this Disclaimer please click on the button below:
