Canterra Minerals (CTM.V) only started trading again after a halt on Tuesday, December 22nd but in just 2.5 trading days, the share price managed to jump to a level exceeding the C$0.40, substantially higher than the raise which was priced at C$0.12 for the hard dollar shares and C$0.13 for the flow-through shares.
Canterra is taking optimal advantage of the strong interest in Newfoundland gold exploration plays and with almost C$4M in the till, the company will be able to hit the ground running in 2021. The Wilding gold project isn’t just an ‘untouched’ land package as previous operators have already done quite a bit of ground work, enabling Canterra to aim for a drill program in 2021 as part of its plan to spend almost C$3M on exploration in 2021. And the market seems to be giving the thumbs up to this aggressive approach.
We are working on a Q&A report with CEO Chris Pennimpede to gain more insight in the history of the project and Canterra’s plans for 2021.
Disclosure: The author has a long position in Canterra (and previously, Teton Opportunities) and participated in the recent financing. Please read our disclaimer.