Junior Explorer Climbs on Cobalt Sample Results

Macarthur Minerals Limited (TSXV:MMS), a junior explorer, climbed after announcing that it has discovered surface rock samples containing the cobalt mineral asbolite

Sean Mason | March 5, 2018 | SmallCapPower

Nickel and cobalt sample results grabbed the attention of a few junior explorer speculators Monday. Here’s some small stocks making big moves on Monday, March 5, 2018 (as of 4 pm EST):

Macarthur Minerals Limited (TSXV:MMS) shares moved 20% higher to $0.06 on Monday after the junior explorer announced that it has discovered surface rock samples containing the cobalt mineral asbolite with assays reporting up to 2.6% cobalt and 2.0% nickel at its Lake Giles Iron Ore Projects in Western Australia.

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As well, shares of Emerald Health Therapeutics, Inc. (TSXV:EMH) gained 16% to $5.94 as the cannabis producer said Health Canada has issued a Cultivation Licence for its Delta 3 greenhouse operation, co-owned with Village Farms International, under Canada’s Access to Cannabis for Medical Purposes Regulations.

Red Eagle Exploration Limited (TSXV:XR), meanwhile, reported that it has agreed to be acquired by Red Eagle Mining Corporation (TSX:R) in an all-stock transaction. Red Eagle Exploration shareholders will receive one common share of Red Eagle Mining for every two Red Eagle Exploration common shares held. Red Eagle Exploration stock popped 18% to $0.10 following the announcement.

Finally, Galane Gold Ltd. (TSXV:GG) shares rose 20% to $0.06 as the gold producer announced that it has entered into a loan agreement with Barak Fund SPC Limited with respect to a US$5 million secured loan facility, the proceeds of which will be used for the refurbishment and expansion of processing facilities and restarting underground mining operations at the Galaxy Gold Mine in South Africa.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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