Gold Explorer Glisters on Copper, Cobalt Properties LOI

    Kapuskasing Gold Corp. (CVE:KAP), a gold explorer, jumped after signing a LOI to acquire copper/cobalt and vanadium properties: TSE:PGF, CVE:DGO

    Sean Mason | March 1, 2017 | SmallCapPower

    A gold explorer grabbed the attention of a few speculators Wednesday following a Letter of Intent to acquire copper, cobalt, and vanadium properties. Here’s some small stocks making big moves on Wednesday, March 1, 2017 (as of 4 pm EST):

    Kapuskasing Gold Corp. (TSXV: KAP) shares surged 100% to $0.06 on Wednesday after the gold explorer announced that it has signed a non-binding Letter of Intent (LOI) to acquire a 100% interest in eight separate copper/cobalt and vanadium properties located in Newfoundland and Labrador.

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    As well, shares of Power Americas Minerals Corp. (TSXV: PAM) Similarly Edison Cobalt Corp. (TSXV:EDDY) slipped as much as 7% before ending 4% higher at $0.15 as the mineral exploration company said it has signed a Letter of Intent with Red Metal Resources Ltd. to acquire options on three properties in Chile: the Farellon Property (cobalt), the Perth Property, and Mateo Property, which contain copper and gold.

    Pengrowth Energy Corporation (TSX: PGF), meanwhile, reported that it has increased its net asset value per share by about 70% in 2016, and has positioned itself to further improve the strength of its balance sheet with a significant reduction of its outstanding debt early in 2017. Pengrowth Energy stock moved up 8% to $1.69 following the announcement.

    Finally, Durango Resources Inc. (TSXV: DGO) shares jumped 11% to $0.21 after the resource company announced that it has been offered additional ground for purchase in the Windfall Lake Gold Camp area of Quebec.

    See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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