Graphite Junior Jumps on Initial Drill Results

Berkwood Resources Ltd. (CVE:BKR), a graphite junior, climbed after announcing that targeted graphite was intersected in every hole drilled its Lac Gueret Project in Quebec

Sean Mason | October 17, 2017 | SmallCapPower

Investor interest in a graphite junior continued to build Tuesday following a drill program announcement. Here’s some small stocks making big moves on Tuesday, October 17, 2017 (as of 4 pm EST):

Berkwood Resources Ltd. (TSXV:BKR) (FSE: BK2) shares surged as much as 18% before ending unchanged at $0.315 on Tuesday after the graphite junior announced that it has completed Phase 1 of the drill program on its Lac Gueret Project in Quebec. The Company added that a total of 13 planned diamond drill holes were completed from nine separate drill sites, with targeted graphite intersected in every hole drilled.

Watch: Graphite Demand is Set to Surge, Says Berkwood Resources CEO

As well, shares of Aphria Inc. (TSX:APH) slipped 13% to $6.86 as the marijuana producer said it has entered into an agreement to raise C$80 million in a bought deal equity financing at a price of $7.25 per common share.

First Cobalt Corp. (TSXV:FCC), meanwhile, reported a significant increase to its drill program to follow up on cobalt assays from a sampling program at the former Bellellen mine located within the Cobalt Camp of northern Ontario. The Company added that the 2017 program is now expected to continue into December and will be increased by 2,000 metres. First Cobalt stock moved up 12% to $0.75 following the announcement.

 

Finally, Garibaldi Resources (TSXV:GGI) shares rose 8% to $3.64 after the junior explorer announced a non-brokered private placement to raise gross proceeds of up to C$10 million at a price of $3.15 per unit.

To find out more about Berkwood Resources Ltd. (TSXV:BKR) (FSE: BK2), please “visit the company’s Investor Hub.”

Ubika Research/SmallCapPower has received compensation from Berkwood Resources Ltd. (TSXV:BKR) (FSE: BK2) to provide analyst research coverage. For full disclosure please visit here >>.

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