[h=1]GoldQuest shares pop 313% thanks to Dominican Republic drill discovery[/h]
Finally, some good news from the beaten-down junior mining sector.
A small junior called GoldQuest Mining Corp. had investors cheering on Thursday as its shares jumped 313% because of results from a super drill hole in the Dominican Republic. More than 20 million GoldQuest shares changed hands, an almost unheard-of number for a junior on the TSX Venture Exchange these days.
During the heady days of the commodity boom, price spikes like this were a frequent event when a junior miner put out positive results. But as global economic volatility increased and investors lost their appetite for risky stocks, juniors have struggled to get any attention. Many of them are hoarding their cash and simply trying to survive the tough times.
That made the bump in GoldQuest shares all the more impressive. The Toronto-based company said its intersected 231 metres grading 2.4 grams per tonne of gold and 0.44% copper at its Las Tres Palmas project.
?It?s an amazing hole,? chief executive Julio Espaillat said in an interview. However, he cautioned that this is a new discovery and not much is known about it yet. ?We have more questions than answers right now,? he added.
GoldQuest has been working on this project for a few years, but this discovery is to the north of its other work in the area. The company will begin a drilling campaign focused around this discovery. Las Tres Palmas is in a little-explored section of the Dominican, and is not on the same gold trend as the giant Pueblo Viejo project controlled by Barrick Gold Corp. and Goldcorp Inc.
GoldQuest shares pop 313% thanks to Dominican Republic drill discovery | Investing | Financial Post
Finally, some good news from the beaten-down junior mining sector.
A small junior called GoldQuest Mining Corp. had investors cheering on Thursday as its shares jumped 313% because of results from a super drill hole in the Dominican Republic. More than 20 million GoldQuest shares changed hands, an almost unheard-of number for a junior on the TSX Venture Exchange these days.
During the heady days of the commodity boom, price spikes like this were a frequent event when a junior miner put out positive results. But as global economic volatility increased and investors lost their appetite for risky stocks, juniors have struggled to get any attention. Many of them are hoarding their cash and simply trying to survive the tough times.
That made the bump in GoldQuest shares all the more impressive. The Toronto-based company said its intersected 231 metres grading 2.4 grams per tonne of gold and 0.44% copper at its Las Tres Palmas project.
?It?s an amazing hole,? chief executive Julio Espaillat said in an interview. However, he cautioned that this is a new discovery and not much is known about it yet. ?We have more questions than answers right now,? he added.
GoldQuest has been working on this project for a few years, but this discovery is to the north of its other work in the area. The company will begin a drilling campaign focused around this discovery. Las Tres Palmas is in a little-explored section of the Dominican, and is not on the same gold trend as the giant Pueblo Viejo project controlled by Barrick Gold Corp. and Goldcorp Inc.
GoldQuest shares pop 313% thanks to Dominican Republic drill discovery | Investing | Financial Post