Yesterday, adult-use recreational cannabis became legal across Canada, and cannabis stocks flooded the Canadian stock markets. However, there were sell-offs for these stocks in large quantities yesterday. Today, a pair of mining penny stocks are breaking through the cannabis chatter on the TSXV. Let’s take a closer look at a few mining penny stocks and their current stock price.
Stock Price: ML Gold Corp (TSXV:MLG)
ML Gold Corp is headquartered in Vancouver, BC, and engages in the acquisition, exploration, and development of mineral properties in North America. The mining company specifically focuses on mining gold properties in BC and Nevada.
The mining penny stock hasn’t had any new company news in about a month. It remains unknown at this time why its stock has the most trade volume among all the mining stocks today on the TSXV.
According to Yahoo Finance, MLG is currently trading at $0.06, up +$0.01 (+30.00%).
Stock Price: Beaufield Resources Inc (TSXV:BFD)
Beaufield Resources is headquartered in Montreal, Quebec, and it engages in mineral exploration in Quebec and Ontario.
Three days ago, the mining penny stock announced that it had obtained the final order of the Superior Court of Quebec for the proposed arrangement with Osisko Mining (TSX:OSK).
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The press release states:
“Osisko will acquire all of the issued and outstanding common shares of Beaufield, which it does not already own, pursuant to a statutory plan of arrangement under the provisions of the Canada Business Corporations Act (the ‘Arrangement’).”
The closing of the arrangement will occur on October 19th, 2018. All shareholders of Beaufield will be entitled to receive 0.0482 of a share of Osisko in exchange for each share of Beaufield held immediately to the effective time of the arrangement.
According to Yahoo Finance, BFD is currently trading at $0.15 a share, up +$0.02 (+11.11%).
Stock Price: Midnight Sun Mining Corp (TSXV:MMA)
Midnight Sun Mining Corp is headquartered in Vancouver, BC, and is a mineral exploration and development company that explores mineral properties in Africa.
Two weeks ago, the mining penny stock appointed a new Cheif Operating Officer (COO) and last night, the mining corp announced a non-brokered private placement. The placement is set for $0.12 a unit for the gross proceeds of $1,000,000.
According to Yahoo Finance, the mining penny stock is currently trading at $0.15 a share, up +$0.02 (+15.38%).
Check back in for more mining penny stocks!
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