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.

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    Power Americas Minerals Corporation (TSXV:PAM) Similarly Edison Cobalt Corp. (TSXV:EDDY) is a featured sponsored company and has paid a fee for coverage. To learn more, see our full disclosure HERE >>

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