A go-private transaction sparked shares of a cobalt junior Wednesday. Here’s some small stocks making big moves on Wednesday, April 22, 2020 (as of 4 pm EST):
Katanga Mining Limited (TSX:KAT) shares surged 110% to $0.16 on Wednesday after the cobalt junior announced a go-private transaction involving majority owner Glencore International AG at a price of C$0.16 per share in cash.
As well, shares of Pan Global Resources Inc. (TSXV:PGZ) jumped 15% to $0.15 as the junior explorer released results for the first three step-out drill holes at the La Romana target on the Escacena Project in Spain, which included 29.5 meters of 1.29% copper equivalent.
New Oroperu Resources Inc. (TSXV:ORO), meanwhile, reported that it plans to complete a mineral resource update for the Tres Cruces gold project in Peru. New Oroperu Resources stock moved up 28% to $1.01 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Katanga Mining Limited (TSX:KAT) shares surged 110% to $0.16 on Wednesday after the cobalt junior announced a go-private transaction involving majority owner Glencore International AG at a price of C$0.16 per share in cash.
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