Canadian junior nickel explorer-cum-gold producer Equitas Resources (EQT.V) saw massive churn today as news of its 100% acquisition of a Brazilian gold producing property sank in and investors took positions.
With more than 5 million shares traded on the day, EQT moved up 16.6% to $0.07.
That’s a 75% increase from the share price just one month ago
The acquisition brings Equitas six gold properties with four pre-existing production licences over 180,000 hectares of land. Currently, the property features a small sluice-box production set-up on-site, with plans to build out a gravity processing plant in the months ahead.
Adding to the joy for shareholders was the Equity.Guru podcast with new company CEO Chris Harris, in which he laid out his plan to steadily expand the project out of revenues rather than dilution. That podcast landed on several business news sites, from Stockhouse to Stockwatch.
Harris says he expects significant newsflow in the months ahead as Equitas seeks to ramp up production. The President and CEO maintains EQT’s existing nickel play remains worth exploring in the future, likely when that metal shows signs of life on the markets.
FULL DISCLOSURE: The author is a consultant to Equitas Resources and owns stock in the company.