4:05pm: Tenth Avenue Petroleum pares losses, Fission 3.0 continues to climb
Tenth Avenue Petroleum closed down 10% to end at $0.26, while Fission 3.0 gained 10% to $0.22, and Xigem Technologies ended up 71% at $0.12.
11:50am: Tenth Avenue Petroleum stock drops, Xigem Technologies advances
Tenth Avenue Petroleum Corp (TSXV:TPC) shares fell 16% to $0.245 on Thursday after the Alberta-focused junior oil & gas exploration and production company announced that its average production was 120 barrels of oil equivalent per day (boe/d) during the third quarter of 2022, down slightly from 2Q due to production downtime associated with annual well maintenance.
Cash provided from operating activities for the period, though, surged 81% quarter over quarter to $270,889.
As well, shares of Fission 3.0 Corp (TSXV:FUU) continued to trend higher Thursday, up 13% to $0.225 and surging 88% since Monday, after the uranium project generator and exploration company said it has intersected what it called extremely radioactive and off-scale, or greater than 65,000 counts per second (cps), mineralization in a new uranium discovery at its 100% owned Patterson Lake North project in Saskatchewan’s Athabasca Basin region.
Xigem Technologies Corporation (CSE:XIGM), meanwhile, reported that it has entered into a binding letter of intent (LOI) to purchase all of the assets of EAFdigital, an online Software-as-a-Service (SaaS)-based artificial intelligence-driven automobile shopping and delivery platform, in an all-stock transaction.
READ: Xigem Technologies inks deal to acquire automotive shopping and delivery platform EAFdigital
Xigem noted it will purchase EAFdigital for a yet-to-be-determined value, which will be determined upon completion of diligence in advance of signing a definitive agreement. It stock moved up 71% to $0.12 following the announcement.
And, Mountain Province Diamonds Inc (TSX:MPVD) shares continued to move higher Thursday, up 7% to $0.63 following a 5% gain on Wednesday, after the Canadian diamond company announced what it called positive exploration results for its 100%-held Kennady North project in Canada's Northwest Territories, which included the discovery of a new kimberlite area about 450 meters east of the Kelvin kimberlite.
Contact Sean at sean@proactiveinvestors.com