Reservoir Minerals Inc. (CVE:RMC), a mining penny stock, is set to receive cash as part of its merger with Nevsun Resources Ltd. (TSE:NSU)
Sean Mason | June 17, 2016 | SmallCapPower
Cash was king when it came to winning over one group of mining penny stock investors Friday. Here’s some small stocks making big moves on Friday, June 17, 2016 (as of 4 pm EST):
Mining penny stock Reservoir Minerals Inc. (CVE:RMC) powered 16% higher to $9.63 on Friday after announcing that Nevsun Resources Ltd. (TSE:NSU) has agreed to increase the consideration to be paid to holders of Reservoir’s common shares by adding a cash payment of C$2.00 per Reservoir share.
As well, shares of Westminster Resources Ltd. (CVE:WMR) slid 19% to $0.105 as the junior explorer said it has signed a letter of intent to acquire four lithium mineral claims in the Northwest Territories, which the Company says are adjacent to 92 Resources Corp.’s Hidden Lake project.
3TL Technologies Corp. (CVE:TTM), meanwhile, reported that it has signed a license agreement to provide its Software as a Service (SaaS) based Platform3 to promote the tire products of a brand owned by a multinational tire and rubber products company. 3TL Technologies stock moved up 17% to $0.07 following the announcement.
In addition, shares of African Queen Mines Ltd. (CVE:AQ) rose 80% to $0.09 as the explorer said it has acquired 15 additional mineral claims totaling 15,028 hectares in close proximity to its Yellowjacket Gold Project in British Columbia.
Finally, GeneNews Limited (TSE:GEN) shares gained 11% to $0.205 after the developer of molecular diagnostic tests announced that the Toronto Stock Exchange has completed its Remedial Review Process and determined that the Company meets the TSX’s continued listing requirements.
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