More positive drill results put a charge into shares of a lithium junior Wednesday. Here’s some small stocks making big moves on Wednesday, October 25, 2017 (as of 4 pm EST):
Advantage Lithium Corp. (TSXV:AAL) shares climbed 23% to $0.74 on Wednesday after the lithium junior provided a progress update on its Cauchari JV drilling and pumping program in Argentina. Sampling from the CAU09 rotary hole averaging 662 mg/l lithium with a Mg/Li ratio of 2.2:1.
As well, shares of Roots Corporation (TSX:ROOT) slid 17% to $10 following the Canadian apparel maker’s IPO on Wednesday. An entity indirectly controlled by the founders of Roots, Michael Budman and Don Green, sold 16,667,000 common shares, at a price of $12.00 per share, for gross proceeds of approximately $200 million.
Zecotek Photonics Inc. (TSXV:ZMS), meanwhile, reported that its patented LFS scintillation crystals have been successfully assessed by the Institute of High Energy Physics (IHEP), the largest research laboratory in Beijing, China, which has committed to use LFS crystals in current and future experiments. The Company added that contractual discussions for a long-term contract are in process. Zecotek Photonics stock moved up 10% to $0.265 following the announcement.
Finally, NewCastle Gold Ltd. (TSX:NCA) shares gained 15% to $0.84 after the gold junior announced that it has agreed to merge with Trek Mining Inc. and Anfield Gold Corp. The combined entity intends to operate under the name Equinox Gold Corp.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
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