Cobalt Junior Jumps on Resource Estimate Results

First Cobalt Corp. (TSXV:FCC), a cobalt junior, gained ground after announcing results of a Mineral Resource Estimate for its Iron Creek Cobalt Project

Sean Mason | September 26, 2018 | SmallCapPower

An Idaho resource estimate sparked shares of a cobalt junior Wednesday. Here’s some small stocks making big moves on Wednesday, September 26, 2018 (as of 4 pm EST):

First Cobalt Corp. (TSXV:FCC) shares climbed 16% to $0.36 on Wednesday after the cobalt junior announced results of the first NI 43-101 Mineral Resource Estimate for its 100%-owned Iron Creek Cobalt Project in Idaho, which showed a resource containing 45 million pounds of cobalt and 175 million pounds of copper.

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As well, shares of Invictus MD Strategies Corp. (TSXV:GENE) fell 15% to $1.88 as the Canadian cannabis producer said it has agreed to a $20 million bought deal equity financing at $2 per unit.

MOBI724 Global Solutions Inc. (TSXV:MOS), meanwhile, reported that its wholly-owned Argentinian subsidiary, MOBI724 S.R.L., signed a commercial agreement with MercadoLibre S.R.L., Argentina’s largest online marketplace platform, to implement MOBI724’s suite of integrated Card-Link and Loyalty Solutions with MercadoLibre’s online payments platform. MOBI724 Global stock moved up 36% to $0.095 following the announcement.

Finally, Alderon Iron Ore Corp. (TSX:IRON) shares rose 6% to $0.29 after the iron ore project developer announced results of the updated Feasibility Study on the Rose Deposit of the Kamistiatusset Iron Ore Project in Labrador, which estimates a US$1.7 billion NPV, at 8% discount rate, and a 24.6% IRR (Pre-Tax).

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

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