4:05pm: Aris Mining adds to gains late afternoon
Shares of Aris Mining Corporation (TSX:ARIS) gained 14% to close at $3.47 as the Canadian miner revealed an updated mineral resource and reserve estimates for the Marmato expansion project in Columbia, which showed a 57% increase in the mineral reserves to 3.2 million ounces of gold.
Goldstorm Metals, meanwhile, ended 183% higher at $0.85, while Appili Therapeutics Inc added 25% at $0.05, and Shawcor finished the day up 7% to $10.67.
11:30am: Goldstorm Metals, Shawcor make big gains
Goldstorm Metals Corp (TSXV:GSTM) shares jumped 193% to $0.88 on Monday after the precious and base metals exploration company revealed that billionaire mining financier Eric Sprott owns, via a spin off, 8,776,922 Goldstorm common shares though his private holding company, which represents about 13.7% of the outstanding Goldstorm shares on a non-diluted basis.
Goldstorm Metals was recently spun out of Tudor Gold Corp (TSXV:TUD).
As well, shares of Appili Therapeutics Inc (TSX:APLI) added 38% at $0.055, on volume of more than 3.3 million shares, as the biopharmaceutical company focused on drug development for infectious diseases and biodefense said the US Department of Defense, via the Joint Science and Technology Office of the Defense Threat Reduction Agency in partnership with the US Air Force Academy, will provide at least US$14 million in funding over two years to fund the development of ATI-1701.
ATI-1701 is a potential first-in-class vaccine candidate for the prevention of infection with aerosolized Francisella tularensis, what the company called a top-priority biothreat.
Shawcor Ltd (TSX:SCL), meanwhile, reported that its third-quarter 2022 revenue rose 15% year over year to $335 million, while generating about $70 million of cash from operating activities during the quarter, compared to $17 million during the same period last year.
The global material sciences company serving the infrastructure, energy, and transportation markets also noted its order backlog for execution in the next 12 months increased by 30% quarter over quarter to $1.01 billion. Shawcor stock moved up 11% to $11.02 following the announcement.
And, Mindset Pharma Inc (CSE:MSET) shares rose 7% to $0.46 after the drug discovery company announced that it has developed a psilocin prodrug that may be just as effective at treating depression as psilocybin but better tolerated.
MSP-1014, Mindet’s prodrug, was shown in mouse and rat pharmacokinetics studies to be rapidly and completely metabolized to psilocin, particularly when taken orally, the company said.
READ: Mindset Pharma presents data showing its psilocin prodrug is better tolerated than psilocybin
Contact Sean at sean@proactiveinvestors.com