Resource Junior Jumps on Sprott Investment

Freegold Ventures Limited (TSX:FVL), a resource junior, surged following an investment from Eric Sprott

Sean Mason | September 6, 2019 | SmallCapPower

A big investment from Eric Sprott powered shares of a resource junior Friday. Here’s some small stocks making big moves on Friday, September 6, 2019 (as of 11:30 am EST):

Freegold Ventures Limited (TSX:FVL) shares climbed 40% to $0.105 on Friday after the resource junior announced that Eric Sprott, through a corporation that is beneficially owned by him, will invest $1.94 million in the Company via a non-brokered private placement at a price of $0.0625 per unit, which represents a 14% equity stake in Freegold.

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As well, shares of TriMetals Mining Inc. (TSX:TMI) gained 21% to $0.085 as the gold explorer said its wholly-owned subsidiary has received full payment (US$25.8 million) of its settlement agreement with the Government of Bolivia.

Canopy Rivers Inc. (TSXV:RIV), meanwhile, reported that it has received approval to list its shares on the TSX beginning on September 9, 2019. Canopy Rivers stock moved up 10% to $2.57 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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