Cobalt Explorer Climbs on Drill Results

LiCo Energy Metals Inc. (TSXV:LIC), a cobalt explorer, jumped after announcing results from the Glencore Bucke Property

Sean Mason | January 26, 2018 | SmallCapPower

Diamond drill results generated a bit of excitement in a cobalt explorer Friday. Here’s some small stocks making big moves on Friday, January 26, 2018 (as of 4 pm EST):

LiCo Energy Metals Inc. (TSXV:LIC) shares gained 13% to $0.17 on Friday after the cobalt explorer announced results from the Glencore Bucke Property Phase 1 diamond drilling program near Cobalt, Ontario, which included 0.55% Co over 5.00 metres from 28.00 to 33.00 metres.

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As well, shares of Electrovaya Inc. (TSX:EFL) sank 27% to $0.415 as the manufacturer of lithium-ion batteries said its wholly-owned German subsidiary, Litarion GmbH, has initiated voluntary structured insolvency proceedings.

Invictus MD Strategies Corp. (TSXV:IMH), meanwhile, reported the sale of its first 120 kg of dried flower from AB Laboratories Inc. to Canopy Growth Corporation, putting it on track for achieving 26,000 kg run-rate production capacity for 2018 with net capacity of 22,150 kilograms to Invictus MD. Invictus MD stock moved up 6% to $2.35 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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