Small stocks making big moves on Thursday, January 22, 2015 (as of 4 pm EST), as reported by Sean Mason, SmallCapPower.com
Brilliant Resources Inc. (TSXV: BLT) shares surged 48% to $0.155 on volume of more than 5 million shares Thursday after the micro-cap explorer announced that its wholly-owned subsidiary, Ivory Resources Inc., has agreed to relinquish all its rights and interests under the terms of its Exploration Services Agreement with the government of the Republic
of Equatorial Guinea, and to work with the Government to open up the Río Muni area of the country to mining. As part of this agreement, the Guinea government agreed to pay Ivory Resources US$31.5 million in cash in three installments.
As well, shares of MBAC Fertilizer Corp. (TSX: MBC) plunged 38% to $0.05 on more than 7.4 million shares traded as the phosphate project developer operating in Brazil said its ability to continue as a going concern is dependent on obtaining additional working capital funding in the immediate term.
Alto Ventures Ltd. (TSXV: ATV), meanwhile, reported the recovery of what it called “significant” Kimberlite Indicator Minerals (KIMs) from till samples on the GEFA Diamond Property, located adjacent to the east of the North Arrow Minerals Inc. Pikoo diamond discovery in northern Saskatchewan. Alto Ventures stock popped 29% to $0.09 following the announcement.
Finally, Romarco Minerals Inc. (TSX: R) shares slipped 10% to $0.57 after the gold project developer said it has entered into an agreement with a syndicate of underwriters to buy on a bought deal basis 517,300,000 common shares of Romarco at a price of $0.58 per share for gross proceeds of $300,034,000.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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