4:05pm: Argonaut Gold adds to gains late afternoon
Kraken Robotics closed up 9% at $0.59, while Argonaut Gold surged 22% to $0.50, Amaroq Minerals finished 9% higher to $0.70, and Western Magnesium ended up 9% at $0.12.
11:30am: Kraken Robotics, Argonaut Gold shares advance sharply
Kraken Robotics Inc (TSXV:PNG) shares powered 11% higher to $0.60 on Wednesday after the marine technology company announced that it has been awarded a prime contract with the Government of Canada, valued at more than $50 million, to provide Remote Minehunting and Disposal Systems (RMDS) for the Department of National Defense (DND).
Kraken noted the contract consists of an estimated 24-month acquisition program followed by an initial five-year Integrated Logistics Support (ILS) program, which includes options for additional equipment, spare parts, training, and technical support.
As well, shares of Argonaut Gold Inc (TSX:AR) continued to move higher Wednesday, up 16% to $0.475 following a 3% gain on Tuesday, as the Canadian gold company said it has agreed to sell its Aurea Mining Inc subsidiary to Heliostar Metals Limited in consideration for US$10 million in cash, plus additional cash payments following the completion of a feasibility study and the start of commercial production at the Ana Paula Gold Project.
Amaroq Minerals Ltd (TSXV:AMRQ), meanwhile, reported results of its 2022 exploration program at Nalunaq in southern Greenland, describing it as the most successful drilling campaign to date.
The Greenland-focused explorer said the results included Main Vein intersections grading up to 116 grams per tonne gold over 0.62 metres, the highest grade intersection drilled by the corporation. Its stock popped 17% to $0.75 following the announcement.
READ: Amaroq Minerals says 2022 drilling campaign at Nalunaq was its most successful yet
And, Western Magnesium Corp (TSXV:WMG) shares rose 32% to $0.145 on Wednesday, following a 10% advance on Tuesday, after the company announced that it has signed a Memorandum of Understanding (MOU) with CCMA, LLC, whereby CCMA will be the exclusive sales agent for the US and for future expansion into the global market for magnesium metal and magnesium-based alloys produced by Western Magnesium.
Contact Sean at sean@proactiveinvestors.com