The junior mining industry has been a hot sector for years among investors. Recently, however, it seems junior mining penny stocks have fallen as investor interest drops.
Many investors have shifted their focus to the Canadian cannabis industry, which has flourished this year after the Canadian parliament announced the approval of Bill C-45. Even junior mining companies have shifted their business plans and companies to incorporate cannabis—to ride the current ‘high.’
“They were clearly looking for something to do with this shell that they’d been keeping on the market, because the mining thing just kind of went bust,” Nick Brusatore, lead-investor in Affinor Resources Inc, told the Financial Post.
Despite dropping interest in junior mining penny stocks, there are still many companies within the industry still making monumental discoveries.
Let’s take a closer look at one junior mining penny stock and the reason it shot up on the TSXV today.
Mining Penny Stocks: Aton Resources Inc. (TSXV:AAN)
Aton Resources is based out of Vancouver, Canada and through its subsidiaries engages in the exploration and development of mineral properties in the Arab Republic of Egypt. The junior mining penny stock was formerly known as Alexander Nubia International Inc. and changed its name to Aton Resources back in June of 2016.
This morning, Aton announced its first results of the first three drill holes from its reverse circulation percussion drilling program at the Rodruin prospect.
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You can read the detailed results here.
“These results really speak for themselves. The results correlate very well with our mapping and channel sampling as well as the previous surface grid and underground sampling at Aladdin’s Hill, and we are very encouraged by them,” said Mark Campbell, President and CEO of Aton Resources.
AAN stock skyrocketed this morning on the TSXV after the market opened after investors read the junior mining stock’s announcement.
According to Yahoo Finance, the junior mining penny stock is currently trading at $0.095 a share, up $0.045 (90.00%).
Featured Image: Depositphotos/© peshkova
