Diamond Miner Sparkles on Preliminary Sale Results

Mountain Province Diamonds Inc. (TSX:MPVD), a diamond miner, rose after announcing diamond sale results

Sean Mason | September 21, 2020 | SmallCapPower

Preliminary diamond sales data attracted a few speculators to shares of a diamond miner Monday. Here’s some small stocks making big moves on Monday, September 21, 2020 (as of 4 pm EST):

Mountain Province Diamonds Inc. (TSX:MPVD) shares climbed 12% to $0.46 on Monday after the diamond miner announced preliminary results of its latest diamond sale in Antwerp, Belgium, which generated total proceeds of C$11.7 million.

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As well, shares of New Millennium Iron Corp. (TSX:NML) gained 31% to $0.085 as the iron ore junior said it has agreed to a reverse takeover by Abaxx Technologies Inc. Abaxx is a development stage financial technology business developing software tools that enable commodity traders and finance professionals to communicate, trade and transact faster and more securely. The transaction is expected to close on or about November 30, 2020.

Novo Resources Corp. (TSXV:NVO), meanwhile, reported that it plans to sell a portion of its Blue Spec project to ASX-listed Calidus Resources Ltd. for about C$18.6 million in cash, contingent on Calidus being able to arrange the financing by November 30, 2020. Novo Resources stock eased 0.8% to $3.82 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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