Copper Junior Shines on Porphyry Deposit Acquisition

Libero Copper Corporation (TSXV:LBC), a copper junior, moved higher after agreeing to acquire a porphyry copper-molybdenum deposit in Colombia from B2Gold

Sean Mason | May 9, 2018 | SmallCapPower

A porphyry copper-molybdenum deposit buy sparked a bit of interest in shares of a copper junior Wednesday. Here’s some small stocks making big moves on Wednesday, May 9, 2018 (as of 4 pm EST):

Libero Copper Corporation (TSXV:LBC) shares climbed 22% to $0.11 on Wednesday after the copper junior announced that it has agreed to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia from B2Gold Corp. in consideration for a 19% ownership stake in Libero Copper and a 2% royalty on the project.

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As well, shares of TSO3 Inc. (TSX:TOS) slid 15% to $0.67 as the provider of sterilization technology for medical devices said its first-quarter revenue fell to $0.3 million from $4.2 million during the same period last year.

Midas Gold Corp. (TSX:MAX), meanwhile, reported that Barrick Gold will acquire a 19.9% ownership interest in Midas by way of a non-brokered private placement at a price of C$1.06 per share. Midas Gold stock moved up 14% to $1.11 following the announcement.

Finally, TORC Oil & Gas Ltd. (TSX:TOG) shares rose 3% to $7.64 after the light oil producer announced an increase in its 2018 average production guidance to 24,700 boepd from 23,000 boepd previously, and said it will boost its annual dividend by 10% to $0.264 per share.

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

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