Canarc Resources Cruises Higher on New Gold Assets

By: Tomas Ronolski - AllPennyStocks.com News

Friday, March 3, 2017

After gaining 11.1% on Thursday on high volume, dually-listed Canarc Resource Corp. (TSX:CCM)(OTCBB:CRCUF) stock is at it again Friday morning, gapping ahead 5% to 10.5 cents per share and running up 15% to 11.5 cents soon after. About an hour into the session, Toronto-listed shares have slipped back to 10.5 cents. U.S. shares, which are actively traded too, opened flat at 7.75 cents and jumped briefly to 8.16 cents before slipping back to even as the day gets underway. Yesterday morning, Canarc disclosed the acquisition of privately-owned American Innovative Minerals LLC, or AIM for short, for $2 million. AIM owns 10 gold properties in Nevada, another in Idaho, two royalty interests on other properties, as well as data on 600 exploration properties in Nevada, Montana and the western U.S. Two of the properties in Churchill County, Nevada, Fondaway Canyon and Dixie Comstock, contain historic gold estimates, including over one million ounces Indicated and Inferred at average grades, respectively, over 6 grams per ton gold at Fondaway Canyon. Through Thursday’s close, shares of CCM are up 25% so far in 2017, while shares of CRCUF are ahead about 32%.

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