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Why Did Minnova (AGRDF) Stock Gain Nearly 4%?

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A rise of 3.88% helped Minnova Corp. (OTCPK: AGRDF) close at $0.2493 in the last session. With the rise in Minnova stock price, the market cap of the company rose to $10.86. AGRDF stock price has risen despite the lack of current news however assay results for its visible gold discovery were recently released.

How were the assay results for AGRDF?

As an exploration and advanced development stage gold company, Minnova is focusing on  expanding and restarting PL Gold Mine, which is owned 100% by the company. It has been concluded that AGRDF’s positive feasibility study supports the restart of the PL Mine at an average annual production rate of 46,493 ounces over a mining lifespan of at least five years. Further exploration of the resource on the surface is anticipated, in order to expand resource production.

Late last month, Minnova announced its results from its latest assays and its most recent efforts on site.

  • The AGRDF’s technical team reviewed and compiled the Winter 2021 drill program and planned a 642 meter follow-up drilling program containing 4 holes.
  • AGRDF has implemented a program on the main PL Deposit targeting a south east trending mineralization vector.
  • On the PL North Upper and Lower Zones, shallow infill holes were also targeted by AGRDF to define mineralized structures before an open pit / bulk sample was planned.
  • In that review, the AGRDF also drilled a down-dip hole to test the mineralized trend of the PL North at depth.

AGRDF’s assessments:

The assay results have confirmed bonanza grades associated with visible gold in hole M-21-048x observed by Minnova (AGRDF). The exceptional grade and location of this intercept confirm that AGRDF’s PL Mine has plenty of exploration potential and resource expansion potential. A large area beneath the PL mill remains untested, so AGRDF thinks that further drilling is needed to infill it.

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