Copper Junior Powers Higher on Hudbay Minerals Investment

Mason Resources Corp. (TSE:MNR), a copper junior, continued to shine following an investment from Hudbay Minerals Inc. (TSE:HBM)

Sean Mason | August 24, 2017 | SmallCapPower

Copper continued to grab the attention of resource investors Thursday, including one copper junior in particular. Here’s some small stocks making big moves on Thursday, August 24, 2017 (as of 4 pm EST):

Mason Resources Corp. (TSX: MNR) shares jumped 11% to $0.30 on Thursday after the copper junior announced that Hudbay Minerals Inc. has acquired 10,755,170 common shares of Mason Resources at a price of C$0.26 per common share. As a result of the transaction, Hudbay beneficially owns and controls about 13.9% of the outstanding common shares of Mason Resources.

Related: Find out why Nicola Mining (TSXV: NIM) and its Thule Copper property are generating market excitement

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As well, shares of MedX Health Corp. (TSXV: MDX) fell 11% to $0.085 as the medical device company said its second-quarter loss widened to $403,631 from $310,869 during the same period last year, while its revenue for the quarter rose 13% to $236,892.

Largo Resources Ltd. (TSX: LGO), meanwhile, reported that it recently surpassed its 1000th lot shipment of vanadium, representing approximately 44 million pounds of vanadium pentoxide (V2O5). Largo Resources stock popped 45% to $0.87 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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