Junior Explorer Jumps on Cobalt Project Acquisition

Boreal Metals Corp. (TSXV:BMX), a junior explorer, moved higher after agreeing to acquire the Guldgruvan cobalt project in Sweden

Sean Mason | February 9, 2018 | SmallCapPower

A European cobalt project buy powered shares of a junior explorer Friday. Here’s some small stocks making big moves on Friday, February 9, 2018 (as of 4 pm EST):

Boreal Metals Corp. (TSXV:BMX) shares climbed 44% to $0.33 on Friday after the junior explorer announced that it has agreed to acquire the Guldgruvan cobalt project in Sweden from EMX Royalty Corporation in consideration for cash, stock, and an uncapped 3% net smelter return royalty on the project.

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As well, shares of Sierra Wireless, Inc. (TSX:SW) slid 14% to $19.94 as the networking solutions provider said it expects its first-quarter 2018 financial results to be impacted by some unusual and mainly non-recurring items, including higher one-time costs related to a Numerex network upgrade and customer migration and tight component supply constraining revenue and adding to cost of goods.

Savary Gold Corp. (TSXV:SCA), meanwhile, reported that it has closed a $2 million private placement financing with SEMAFO Inc. at a price of $0.06 per common share. As a result of the transaction, SEMAFO now owns 15.5% of Savary’s issued and outstanding shares on a non-diluted basis. Savary Gold stock moved up 20% to $0.06 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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