Another
Nevada lithium junior got a jolt from Tesla’s future supply needs while credit
issues weighed on an oil and gas name. Here’s some small stocks making big
moves on Wednesday, September 16, 2015 (as of 4 pm EST):
Pure Energy Minerals Limited (TSXV:
PE) shares gained as much as 29% before ending unchanged at $0.80 on volume of more than 4.4 million shares
Wednesday after the lithium project developer announced that it has entered
into an agreement with Tesla Motors Inc. for the potential supply of lithium
hydroxide that Pure Energy plans to produce from its Clayton Valley, Nevada
Lithium Brine Project.
As well, units
of Parallel Energy Trust (TSX:
PLT.UN) slid 46% to $0.035 as the oil and gas producer said its US$165
million credit facility which expires on September 30, 2015, will not be
renewed on the same or similar terms and conditions, and the company is working
with its lenders on alternative arrangements.
Eastern Platinum Limited (TSX: ELR), meanwhile, reported that the Competition
Authorities of South Africa have granted unconditional approval for the
transaction whereby Hebei Zhongbo Platinum Co. Limited is to acquire the company’s
entire platinum group metals business and all investments and loan agreements
that Eastplats has with its subsidiary companies. Eastern Platinum stock moved
up 15% to $1.26 following the announcement.
Hi, did you know SmallCapPower
accepts blog submissions? You can contact me at sean@smallcappower.com.
