Gold Penny Stock Shines on Financing Deal

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Golden Dawn Minerals Inc. (CVE:GOM), a gold penny stock, shot up after announcing a US$4 million Metal Purchase Agreement

Sean Mason | July 22, 2016 | SmallCapPower

Potential pending production sparked much speculation in a gold penny stock Friday. Here’s some small stocks making big moves on Friday, July 22, 2016 (as of 4 pm EST):

Gold penny stock Golden Dawn Minerals Inc. (CVE:GOM) climbed 33% to $0.40 on Friday after announcing that a San Francisco based private equity fund, RIVI Capital, intends to pay Golden Dawn US$4 million in two tranches in a Metal Purchase Agreement, which will be used to fund CAPEX to resume mining, processing and the purchase of production from the Greenwood Project in British Columbia.

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As well, shares of Noram Ventures Inc. (CVE:NRM) gained 7% to $0.08 as the lithium junior revealed that a large previously drilled bore hole has been encountered during initial Phase I surface and sub-surface sampling on its Hades lithium/clay claims group in Nevada’s Clayton Valley.

Serengeti Resources Inc. (CVE:SIR), meanwhile, reported that its previously-announced private placement of C$500,000 has been oversubscribed and it will be increasing that amount to $660,000 at a price of $0.10 per unit. Serengeti Resources stock moved up 17% to $0.135 following the announcement.

In addition, shares of Carube Copper Corp. (CVE:CUC) powered 29% higher to $0.18 as the mineral exploration company said it has made what it calls a new copper/gold discovery at its Bellas Gate Joint Venture in Jamaica.

Finally, Horizon North Logistics Inc. (TSE:HNL) shares rose 8% to $1.69 after the provider of full service solutions in camp management accommodations announced that it has entered into an agreement to acquire Empire Camp Equipment Ltd. for a purchase price of about $44.5 million, payable through a combination of cash and newly-issued Horizon North common shares.

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