Graphite Junior Rises on Battery Materials Shipment

Great Lakes Graphite Inc. (CVE:GLK), a graphite junior, moved up after shipping two purchase orders to an international manufacturer of stationary battery systems

Sean Mason | June 9, 2017 | SmallCapPower

The shipment of battery materials could prove to be a significant step for one graphite junior Friday. Here’s some small stocks making big moves on Friday, June 9, 2017 (as of 4 pm EST):

Great Lakes Graphite Inc. (TSXV: GLK) shares gained 7% to $0.075 on Friday after the graphite junior announced that it has officially entered the battery materials market with the shipment of two purchase orders to an international manufacturer of stationary battery systems. The first of the two purchase orders is for 50 kilograms of material that will be used in pre-production test manufacturing of a battery unit designed for use in industrial applications.

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As well, shares of Hudson’s Bay Company (TSX: HBC) slipped 11% to $8.61 as the retailer said its first-quarter retail sales fell 3% to $3.2 billion, while its net loss for the quarter widened to $221 million from $97 million during the same period last year. The Company added that it will be reducing its quarterly dividend by 75% to $0.0125 per share.

Resverlogix Corp. (TSX: RVX), meanwhile, reported that it intends to raise up to $10 million in an equity offering priced at $1.80 per unit. The Company currently has 105,701,543 issued and outstanding common shares. Resverlogix stock dropped 20% to $1.64 following the announcement.

Finally, Gespeg Copper Resources Inc. (TSXV: GCR) shares climbed 75% to $0.07 after the copper junior announced that it has signed a 60-day binding letter option agreement with DNA Canada Inc. to acquire a 50% undivided interest in the 65 mining claims and the mining lease all located in the Montauban and Chavigny townships in the province of Québec.

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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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