Rare Earths Explorer Powers Up on Funding Agreement

    Mkango Resources Ltd. (TSXV:MKA), a rare earths explorer, climbed after announcing an agreement to fund a bankable feasibility study for its Songwe Hill Rare Earths Project

    Sean Mason | November 16, 2017 | SmallCapPower

    A significant funding announcement sent shares of a rare earths explorer sharply higher Thursday. Here’s some small stocks making big moves on Thursday, November 16, 2017 (as of 4 pm EST):

    Mkango Resources Ltd. (TSXV:MKA) shares shot up 167% to $0.16 on Thursday after the rare earths explorer announced that it has entered into an agreement with Talaxis Limited, a wholly-owned subsidiary of Noble Group Limited, to fully fund a bankable feasibility study for Mkango’s Songwe Hill Rare Earths Project in Malawi, in return for a 49% interest.

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    As well, shares of Newstrike Resources Ltd. (TSXV:HIP) slipped 18% to $0.475 as the marijuana company acknowledged that it is in discussions with CanniMed Therapeutics Inc. (TSX:CMED) regarding a potential business combination transaction.

    Zecotek Photonics Inc. (TSXV:ZMS), meanwhile, reported that it is now working with a second major European automobile manufacturer to integrate its 3D technology into a brand specific 3D head-up display for consumer use. Zecotek Photonics stock moved up 10% to $0.27 following the announcement.

    To find out more about Zecotek Photonics Inc., please visit the company’s Investor Hub.

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    Ubika Research/SmallCapPower has received compensation from Zecotek to provide analyst research coverage. For full disclosure please visit here >>

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