Miners Flex Muscles Tuesday

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Tuesday, February 18, 2020

Miners throughout North America are making their presence felt this Tuesday, shaking themselves back to life after twin long weekends. The materials sector of the TSX climbed 4.8% Tuesday.

A Vancouver, B.C.-based miner trading in the States benefited from a glimmer of hope emanating from a land starved for some good news. Silvercorp Metals Inc. (NYSE American:SVM) reports that its Ying and GC mines have been approved by their respective local municipal governments on Monday of this week to resume operations.  Workers are returning to the mine sites to restart work

Both properties are located in China, Ying, a silver-lead-zinc producer located in Henan Province, while GC is an acronym for Gaocheng, about 200 kilometres west of Guangzhou City, Guangdong Province. 

SVM was trading on the NYSE American Exchange up seven cents, or 1.8%, to $4.04 U.S. late Tuesday afternoon, on volume of 1.6 million shares. 

Meanwhile, Calgary-based Champion Bear Resources Ltd. (TSX-Venture: CBA) told investors announces that it had filed an acquisition application with the TSX Venture Exchange in connection with the Company's strategic option to purchase a 100% in interest in certain mining claims in Kenora, in Northern Ontario. These claims, if acquired by the Company, would expand the number of claims in connection with its core Eagle Rock core property by approximately 15. 

The application (including the issuance of 100,000 Common Shares of the Company) is subject to the approval of the TSXV.

Champion may have demonstrated share volume befitting a “challenger”, only 44,000, but enjoyed price growth success totaling a penny, or 7.1%, as the session came to a close, to 15 cents. 

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