4:05pm: Silvercorp Metals, Foremost Lithium rallies late afternoon
AbraSilver Resource Corp. (TSXV:ABRA) shares gained as much as 11% before ending up 7% to $0.395 on Friday a day after the silver junior announced “substantial growth” in the Measured & Indicated (M&I) resource following an updated estimate at its wholly-owned Diablillos property in Argentina, which now shows 51.3 Mt of 66 grams per tonne (g/t) silver and 0.8 g/t gold that does not include a new high-grade silver discovery in the Southwest Zone.
As well, shares of Doman Building Materials Group Ltd (TSX:DBM) climbed 8% to $5.75 as the North American distributor of building materials said its third-quarter 2022 revenue rose 19.0% to C$744.1 million, while its net earnings for the quarter increased to C$11.6 million from C$7.7 million during the same period last year.
Silvercorp Metals Inc (TSX:SVM), meanwhile, reported 2Q 2023 revenue of US$51.7 million, along with cash flow from operations of US$14.1 million, after the Canadian mining company sold around 1.8 million ounces of silver, 1,200 ounces of gold, 17.3 million pounds of lead, and 5.9 million pounds of zinc during the quarter. Silvercorp Metals stock moved up 11% to $3.58 following the announcement.
In addition, shares of Foremost Lithium Resource & Technology Ltd (CSE:FAT) continue to move higher Friday, up 14% to $0.20 following a 6% gain on Thursday, as the hard-rock exploration company said it recently completed a UAV-assisted high-resolution airborne magnetic survey on its Lithium Lane properties near the mining town of Snow Lake in Manitoba.
And, Blackhawk Growth Corp (CSE:BLR) shares jumped 65% to $0.14 after the investment holding company announced that MindBio Therapeutics Pty Ltd has released what it called positive data from a Phase 1 clinical trial microdosing Lysergic Acid Diethylamide (LSD) in 80 healthy participants, saying the increases in, “energy”, “well”, “happy”, “creative”, “connected” are suggestive of anti-anhedonic properties that may have potential when used in patients with depression.
11:45am: AbraSilver Resource, Doman Building Materials advance sharply
AbraSilver Resource Corp (TSXV:ABRA) shares gained 11% to $0.41 on Friday a day after the silver junior announced “substantial growth” in the Measured & Indicated (M&I) resource following an updated estimate at its wholly-owned Diablillos property in Argentina, which now shows 51.3 Mt of 66 grams per tonne (g/t) silver and 0.8 g/t gold that does not include a new high-grade silver discovery in the Southwest Zone.
As well, shares of Doman Building Materials Group Ltd (TSX:DBM) climbed 11% to $5.92 as the North American distributor of building materials said its third-quarter 2022 revenue rose 19.0% to C$744.1 million, while its net earnings for the quarter increased to C$11.6 million from C$7.7 million during the same period last year.
Silvercorp Metals Inc (TSX:SVM), meanwhile, reported 2Q 2023 revenue of US$51.7 million, along with cash flow from operations of US$14.1 million, after the Canadian mining company sold around 1.8 million ounces of silver, 1,200 ounces of gold, 17.3 million pounds of lead, and 5.9 million pounds of zinc during the quarter. Silvercorp Metals stock moved up 8% to $3.48 following the announcement.
READ: Silvercorp Metals releases 2Q results highlighting gains in silver, gold and lead production
And, Blackhawk Growth Corp (CSE:BLR) shares jumped 71% to $0.145 after the investment holding company announced that MindBio Therapeutics Pty Ltd has released what it called positive data from a Phase 1 clinical trial microdosing Lysergic Acid Diethylamide (LSD) in 80 healthy participants, saying the increases in, “energy”, “well”, “happy”, “creative”, “connected” are suggestive of anti-anhedonic properties that may have potential when used in patients with depression.
Contact Sean at sean@proactiveinvestors.com