Resource Junior Soars on Vanadium Option Update

Strategic Resources Inc. (TSXV:STI), a resource junior, surged after receiving conditional approval for its vanadium property option agreements

Sean Mason | May 17, 2019 | SmallCapPower

Two vanadium property options generated plenty of speculation in shares of a resource junior Friday. Here’s some small stocks making big moves on Friday, May 17, 2019 (as of 11:30 am EST):

Strategic Resources Inc. (TSXV:STI) shares shot up 183% to $0.65 on Friday after the resource junior announced that it has received conditional approval from TSX Venture Exchange for its mineral property option agreements to acquire interests in the Silasselkä Project from Aurion Resources and the Akanvaara Project from Magnus Minerals, both of which are vanadium projects located in Finland.

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As well, shares of SDX Energy Inc. (TSXV:SDX) sank 24% to $0.425 as the North Africa-focused oil and gas company said its Q1 2019 production was 5% lower than Q4 2018 due to increased water cut in North West Gemsa.

Ethos Gold Corp. (TSXV:ECC), meanwhile, reported that it has executed an earn-in agreement with Victory Metals Ltd., under which Ethos will drill a Carlin-style gold target at Victory’s Iron Point vanadium project in Nevada. Ethos Gold stock moved up 33% to $0.20 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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