Industrial Minerals Stock Powers Up on Offtake Deal

Athabasca Minerals Inc. (TSXV:AMI), an industrial minerals stock, jumped after securing an offtake agreement with Shell Canada Energy

Sean Mason | February 12, 2020 | SmallCapPower

A Shell Canada offtake agreement gave an industrial minerals stock a big lift Wednesday. Here’s some small stocks making big moves on Wednesday, February 12, 2020 (as of 4 pm EST):

Athabasca Minerals Inc. (TSXV:AMI), an industrial minerals stock, surged 45% to $0.34 on Wednesday after announcing that its wholly-owned subsidiary has secured an anchor offtake agreement with Shell Canada Energy for its Duvernay Frac Sand Project in Alberta.

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As well, shares of Pretium Resources Inc. (TSX:PVG) fell 22% to $9.98 as the gold miner said its average annual gold production for the foreseeable future at Brucejack’s Valley of the Kings is currently expected to be in a range comparable with the gold production guidance range for 2020, which is approximately 525,000 ounces as a result of a reduction in the estimated gold grade.

RESAAS Services Inc. (TSXV:RSS), meanwhile, reported that it has signed a new partnership agreement with ZorroSign, Inc, a provider of electronic signature and transaction management software to real estate agents and brokerages. RESAAS Services stock moved up 46% to $0.285 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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