Cannabis stocks have been dominating Canadian exchanges for the past eleven months, due to interest peaking for cannabis in North America. However, investors began losing interest in the industry once recreational marijuana became legal across Canada in mid-October. Today, mining penny stocks are dominating the TSXV in trade volume.
Let’s take a look at a couple of these mining and resource companies and their latest announcements.
Adamera Minerals Corp (TSXV:ADZ)
Adamera Minerals is a junior exploration company that acquires and explores gold properties in the US. Today, it is one of the highest traded mining penny stocks on the TSXV for its trade volume.
Yesterday, Adamera announced that it has increased and closed its private placement. Originally, the private placement was set at 4 million units for $200,000 but was increased to 7.315 million units for $365,750.
The announcement explains:
“The warrants are subject to an accelerated expiry date, which comes into effect when the price of the Company’s common shares on the TSX Venture Exchange closes at a price of $0.20 or more per share during any ten consecutive trading day period commencing March 20, 2019. In such event, the expiry date will be accelerated to a date that is 30 days after the Company’s shares trade for ten consecutive days at or above $0.20.”
According to Yahoo Finance, the mining penny stock is currently trading at $0.09 a share, up +$0.03 (+38.467%).
Rusoro Mining Ltd. (TSXV:RML)
Rusoro Mining operates out of Vancouver, British Columbia, and it engages in the exploration of gold mining in Venezuela. Today, this mining penny stock is among the top traded on the TSXV for volume. However, the stock is currently being traded negatively.
The company hasn’t released any new updates in about a month’s time, so it remains unknown why it all of a sudden has over $3.9 million in trade volume today.
According to Yahoo Finance, RML is currently trading at $0.15 a share, down -$0.03 (-17.14%). It may be that the lack of updates is what has caused the mining penny stock to drop today.
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