The shares closed at CAD 5.41 (+$ 0.43 or 8.6%).
Look at the performance of Rupert Resources versus GDX, the largest gold miners ETF. It has been outperforming gold stocks by milestones and the MACD (lower chart) indicates it will start to outperform further.
The excitement is all about the fantastic Ikkari gold discovery in Area 1. There is no news, but the company releases drill results from the Ikkari gold discovery in Northern Finland, about every 3 weeks. We should thus be expecting further drill results in the next week or so.
The old Pahtavaara mine, currently on care & maintenance, around 20-25 km east of the gold discovery. The other picture is from the drilling site.
Agnico-Eagle Mines (AEM) operates 50 km to the northwest the Kittilä gold mine, the largest gold mine in Europe, with an estimated annual production of 200'000 ounces per year. AEM owns about 15% of the shares of Rupert Resources.
Cormark Securities published yesterday a report on Rupert Resources. The full report can be found here: https://drive.google.com/file/d/1HUMloKlUZ8O9sSkLIeudk96upJ6nv8rT/view?usp=drivesdk.
