Callinex Mining (CNX, $0.55 +12%)
Shares Outstanding: 59,193,410
On October 17th shares in CNX jumped from 0.34 to 0.60 on 3.6 million shares on the news of a high grade discovery on their mature Pine Bay project in the Flin Flon mining district of Manitoba. The results were the “most significant gold and silver results from over 80 years of exploration including 625 holes drilled on the property.” CNX, taking advantage of the news , today announced a $5 million financing at 0.50/share. The latest drill hole features 10.3 meters of 13.1 per cent zinc-equivalent mineralization (ZnEq),
Aurvista Gold (AVA, $0.21 +27.3%)
Shares Outstanding: 90,939,121
After a brutal hiatus of over 2 years where shares in AVA sunk to an illiquid 0.04, the company has enjoyed a tremendous run this year based on the merits of its flagship Douay Gold project in Quebec. The Douay Gold Project contains a NI 43-101 Mineral Resource of 114,652,000 tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,400 ounces of gold) in the Indicated category, at a cut-off of 0.3 g/t gold. As with Callinex, AVA is taking advantage of renewed investor interest by raising $6 million at 0.15/share.
Peace River Capital (PRC.H, $0.30 +46,3%)
Shares Outstanding: 25,774,395
Just when you thought the lithium frenzy in the junior exploration sector cooled down, PRC makes its debut with a project acquistion in Grand County, Utah. Today’s news was brief with no details on the actual project (only that it was acquired for $150,000 cash and 2.5 million shares). However since Grand County is known for it’s lithium and uranium minerology, we are guessing today’s excitement was not attributed to uranium. Peace River, formerly known as Petro Basin, has been all but illiquid for at least the past 5 years – so today’s jump may signal the company is finally doing something productive.
Bearing Resources (BRZ, $039 +44.4%)
Shares Outstanding: 18,472,418
BRZ is coming off a recent restructuring whereby it divested it’s Canadian and Mexican mineral projects in exchange for 12 million shares of Commander (CMD, $0.05), followed by a 4:1 rollback in which it was left with 6.4 million shares. Last week the company closed a $1.56 million financing at 0.15/share. Cashed up and crunched down with the rollback, the company has not yet revealed what it intends to do with it’s new bankroll. Today’s action indicates someone out there may have some ideas.
Astorius Resources (ASQ, 0.345 +15%)
Shares Outstanding: 23,706,000
Astorius ran up 15% on nearly triple it’s average volume on the heels of an interesting acquisition in Ecuador. “The Condor property represents a group of strategically located mineral claims surrounded entirely by the 75,000-hectare Fruta del Norte concession, Lundin Gold’s flagship asset, where mineral production is expected to begin in first quarter 2020.” This particular concession (Condor) was originally assembled by famed Ecuadorian geologist and investor Fredy Salazar (of Salazar Resources, SRL:TSX Venture). As with most junior explorers, shares of ASQ enjoyed a strong resurgence from 0.025 in May 2016, hitting a high of 0.40 in late September.