Cannabis penny stocks have taken over most of the TSXV in 2018, but lately, there have been other stocks that have begun to shine on the Canadian exchange. Today, there is one mining penny stock trending that is making gains.
Let’s take a closer look this mining company and its latest movements and announcements.
Serengeti Resources Inc. (TSXV:SIR)
Serengeti Resources is headquartered in Vancouver, BC, and it explores and acquires mineral properties in Canada. The mining penny stock’s main property is the Kwanika copper-gold deposit that is located in Quesnel Trough, BC.
Two days ago, the company reported its second batch of assay results from the 2018 drilling campaign completed at its Kwanika deposit.
David W Moore, President and CEO of Serengeti, said:
“These most recent results continue to demonstrate the terrific potential of the Kwanika project. The current holes encountered generally higher grades than we would have predicted from the prior PEA resource model and further demonstrate that our strategic objective of increasing both the resource grade and tonnage of the Central Zone at Kwanika is a reasonable objective of the current program. Furthermore, the holes in the current release demonstrate the potential to expand the open pit-able portion of the deposit.”
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Since this is the company’s main mineral property, the results are an extremely good sign for the company, especially considering they have put all their money and resources into it. There are still an additional eight holes that have been submitted for assay and will be released in batches when information becomes available. Kwanika Copper Corporation is a private company that is jointly owned by Serengeti and the Posco Daewoo Corporation.
SIR Penny Stock Movement
Today, Serengeti is among the leader of the penny stocks today on the TSXV for volume traded. According to Yahoo Finance, SIR is trading at $0.25 a share, up +$0.03 (+13.95%).
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