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Shell Summary for May 6, 2020

2020-05-06 20:17 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.65 points to close at 478.82 Wednesday. Judson Culter's shell graduate and mining junior, Rover Metals Corp. (ROVR), closed up one cent to four cents on 618,900 shares. It is working on a U.S. gold exploration deal, but there are no details yet.

Rover went public in June, 2018, as a Yellowknife gold explorer. In its first eight months as a public company, it performed a little bit of exploration work in the Yellowknife area, including magnetic and geochemical surveys, mapping, and 3-D modelling, but nothing that led to any drilling. Then in April, 2019, Rover announced a shift in focus to Nevada gold-silver exploration; it arranged an all-share deal with a private U.S. firm called Centennial Mining. In connection with that deal, Rover hoped to raise $1.25-million at six cents, but as of April, 2020, it had managed to raise only $420,700. Last week, the company disclosed that its Nevada gold-silver deal was off. It is now working on a new deal with Centennial Mining, one involving gold properties in Arizona, Utah and Nevada.

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