Golden Predator Obtains Significant Investment, Shares Up 500% In Last Two Months

Golden Predator Obtains Significant Investment, Shares Up 500% In Last Two Months

By: Tomas Ronolski - AllPennyStocks.com News

Monday, June 27, 2016

The surprise referendum results from Britain have shocked global markets. On Thursday, Britain voted to leave the European Union (EU). The development has led to a huge sell-off in risk assets. On Friday, global equities saw a sharp pullback, with benchmark indexes in Europe dropping around 8%. In the U.S., the NASDAQ dropped more than 4%. Investors pulled money out of risk assets and poured it into safe haven assets such as gold. Indeed, the outlook for gold has improved considerably.


Gold’s outlook has not just been boosted because of the demand for safe haven assets following Brexit. It has also been boosted because Brexit delays a potential rate hike in the U.S. Even before the vote on Thursday, the futures market was anticipating a solitary rate hike in 2016. But following the surprise results, the probability of a rate hike in December this year has dropped to just 15%.

With gold prices rallying, gold mining stocks are once again seeing interest from investors. Barrick Gold Corporation (NYSE:ABX) shares have gained more than 9% since Friday. Goldcorp Inc. (NYSE:GG) shares are up almost 5% since Friday.

Shares of Golden Predator Mining Corp. (TSX-Venture:GPY) are also gaining momentum in trading today. Based in Vancouver, Canada, Golden Predator is an exploration-stage company focused on gold and copper exploration in the Yukon and Nevada. The company operates in two segments. It owns the Brewery Creek project, a past producing heap leach gold mining operation and is located over 50 kilometers due east of Dawson City in the northwestern region of the Yukon. The Brewery Creek project holds a Quartz Mining License (QML) and a Type A Water License.

GPY shares are gaining momentum in trading today after the company announced that it raised C$7.3 million through a private placement. The company received investment from Eric Sprott. GPY issued 10,000,000 Non-Flow Through Units (“Non-Flow Through Unit”) at a price of $0.73 per unit. The Company also announced an additional financing of up to 6,500,000 Flow-Through Units (the “Flow Through Units” and collectively with the Non-Flow Through Units referred to herein as the “Units”) of the Company at a minimum price of C$1.00 per Flow Through Unit, for gross proceeds of up to $6,500,000. Each Unit consists of one common share of the Company and one half share purchase warrant.

At last check, GPY shares were trading 2.06% higher at $0.990 on volume of 134,236 with shares up close to 500% since early May. 2016 is certainly shaping up to be one of the best years ever for gold and gold miners alike and with gold continuing to be a safe haven trade, that rally doesn’t look to be fizzling any time soon.

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