Mining penny stocks have been strong in Canada for years, but are often overshadowed by the latest emerging trend (such as cannabis). However, junior mining companies are often finding new reserves and make drilling discoveries regularly.
This often prompts the rise in the companies’ share prices. However, that’s not today’s story.
Today, let’s take a closer look at two mining penny stocks that have fallen on the TSXV.
Golden Arrow Resources Corporation (TSXV:GRG)
Golden Arrow Resources is based out of Vancouver, BC, and is a natural resource company. It engages in the exploration and development of precious and base metal projects in Argentina.
Year-to-date, the mining penny stock is down nearly -60%. Golden Arrow published its latest company announcement 12 days ago, which doesn’t explain its sudden drop in shares today.
According to Yahoo Finance, the mining penny stock is currently trading at $0.29 a share, down -$0.06 (-17.14%).
Aurelius Minerals (TSXV:AUL)
Aurelius Minerals is also based in Vancouver, BC, and operates as an exploration stage company. Aurelius focuses specifically on gold mineral exploration. The company changed its name from Galena International Resources Ltd back in January of 2017 but was incorporated back in 2007.
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Like Golden Arrow, Aurelius has yet to publish any updates on its latest movements in a while. The last press release announced was 16 days ago, regarding the initial results of its first four holes dug in a specific Gold drilling program.
According to Yahoo Finance, AUL shares are currently trading at $0.035 a share, down -$0.005 (-12.50%).
Mining Penny Stock Wrap-Up
It seems investor interest in mining penny stocks have dropped at the moment, seeing as both of the companies listed above have had zero company movement lately and their stocks have fallen today. It may just be that traders are moving their money to more active stocks.
Featured Image: Depositphotos/© gunnar3000
