Battery Metals Stock Powers Up on Mine Acquisition

European Electric Metals Inc. (TSXV:EVX), a battery metals stock, charged higher after agreeing to acquire the Skroska Iron-Nickel mine in Albania

Sean Mason | October 11, 2018 | SmallCapPower

A nickel mine with cobalt potential piqued the interest of more than a few battery metals stock speculators Thursday. Here’s some small stocks making big moves on Thursday, October 11, 2018 (as of 4 pm EST):

European Electric Metals Inc. (TSXV:EVX), a battery metals stock, surged 21% to $0.23 on Thursday after agreeing to acquire the Skroska Iron-Nickel mine in Albania, in which cobalt of up to 0.54% has been identified in an initial EVX sampling program.

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As well, shares of Fortuna Silver Mines Inc. (TSX:FVI) slipped 3% to $5.38 as the precious metals miner said abnormally high rainfall has caused a contingency pond to overflow at the dry stack tailings facility at its San Jose mine in Mexico.

NioCorp Developments Ltd. (TSX:NB), meanwhile, reported that it has signed a commercial sales agreement with Traxys North America LLC for up to 120 tonnes of scandium trioxide over the first 10 years of operation of NioCorp’s planned Elk Creek Critical Minerals Project in Nebraska. NioCorp Developments stock moved up 16% to $0.63 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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