Gold Junior Jumps on Gold Mine Update

Granada Gold Mine Inc. (CVE:GGM), a gold junior, moved higher after announcing a potential turnkey funding solution to boost potential gold production at the Granada mine

Sean Mason | March 29, 2017 | SmallCapPower

A progress report from a gold junior Wednesday had more than a few speculators thinking pending production. Here’s some small stocks making big moves on Wednesday, March 29, 2017 (as of 4 pm EST):

Granada Gold Mine Inc. (TSXV: GGM) shares climbed 27% to $0.07 on Wednesday after the gold junior announced that it met with officials from DRA Americas recently, which plans to outline terms of a potential turnkey funding solution to boost potential gold production at the Granada mine in Quebec. Granada Gold Mine added that a new resource estimate for the LONG Bars Zone is scheduled to be released by the end of April 2017.

 

As well, shares of JEMTEC Inc. (TSXV: JTC) soared 136% to $0.91 as the provider of integrated technology systems for community-based corrections in Canada said it has been selected to provide Electronic Supervision Program Technology to the Ontario Ministry of Community Safety and Correctional Services (MCSCS). The initial contract has a four-year term with an option for two additional extensions of up to one year each selectable by MCSCS.

Dynacor Gold Mines Inc. (TSX: DNG), meanwhile, reported that ore purchases in the first two months of 2017 were up by more than 30% and gold production by 24% as compared to 2016, this despite the extremely intense rainy season this year in Peru. Dynacor Gold Mines stock moved up 6% to $2.49 following the announcement.

Finally, Lithium Americas Corp. (TSX: LAC) shares rose 5% to $0.99 after the lithium project developer announced what it called “positive” Definitive Feasibility Study results on the Cauchari-Olaroz lithium project in Argentina. Highlights included average annual production of 25,000 tonnes of battery-grade lithium carbonate over a 40-year project life, as well as an estimated construction capital cost of $425 million, before working capital and value-added taxes.

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