Sean Mason | December 2, 2015 |
SmallCapPower
A gold
claim sale brought some much-needed cash and stock to one junior Wednesday,
while a raise was not well received by the market. Here’s some small stocks
making big moves on Wednesday, December 2, 2015 (as of 4 pm EST):
Pure Gold Mining Inc. (TSXV: PGM) shares rose 14% to $0.08 on Wednesday after the
gold junior announced that it has entered into a binding letter of intent with
Premier Gold Mines Limited to sell its non-core Buffalo Claims currently owned
by Pure Gold that are contiguous with Premier Gold’s Hasaga property in a cash-and-stock
transaction valued at $5 million. Pure Gold will also receive a 1% NSR on the
majority of the Buffalo Claims divested. Premier Gold will have the right
to acquire 50% of the NSR for consideration of $1 million.
As well,
shares of Slyce Inc. (TSXV:
SLC) slid 14% to $0.185 as the visual product search platform said it
plans to carry out a short form prospectus offering to raise between C$9
million and $13.5 million at a price of C$0.20 per unit.
Sandvine (TSX:
SVC), meanwhile, reported that it has received expansion orders totaling
$12 million from a major cable operator customer in North America. Sandvine
stock moved up 6% to $3.01 following the announcement.
In addition,
NewCastle Gold Ltd. (TSXV:
NCA) shares powered 16% higher to $0.255 after the resource project
developer revealed an updated mineral resource estimate for its 100% controlled
and permitted Castle Mountain Gold Project in California, which included a 33%
increase in its Measured & Indicated Resource to 4.2 million ounces of gold.
Finally, Lydian International Limited (TSX:
LYD) shares continued to move higher Wednesday, up 20% to $0.30. On Tuesday,
shares of the gold mine developer gained 9% after the Company announced that it
has entered into definitive agreements related to a US$325 million construction
financing package for its 100%-owned Amulsar Gold Project in Armenia, to be
provided by Orion Mine Finance and Resource Capital Funds.
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