Lithium Junior Jumps on Offtake Agreement

Published:

Desert Lion Energy Inc. (TSXV:DLI), a lithium junior, surged after entering into an offtake with BASF SE

Sean Mason | April 2, 2019 | SmallCapPower

A nonbinding offtake agreement sparked interest in shares of a lithium junior Tuesday. Here’s some small stocks making big moves on Tuesday, April 2, 2019 (as of 4 pm EST):

Desert Lion Energy Inc. (TSXV:DLI) shares powered 38% higher to $0.145 on Tuesday after the lithium junior announced that it has entered into a nonbinding offtake agreement with BASF SE, whereby BASF would be able to purchase lithium hydroxide from a planned Desert Lion Energy production facility to be located in Namibia.

Win Big With Our Small Cap Picks

 

As well, shares of Prometic Life Sciences Inc. (TSX:PLI) slid 22% to $0.23 as the biopharmaceutical company said it incurred a fiscal 2018 net loss of $237.9 million, compared with a net loss of $120.0 million during 2017. The Company added that its near-term financing shortfall requires “urgent action” to restructure its indebtedness and raise capital.

SunOpta Inc. (TSX:SOY), meanwhile, reported that it has agreed to acquire the shares of Sanmark B.V., a business focused on organic oils for the food, pharmacy, and cosmetic industries. SunOpta stock moved up 11% to $4.92 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below:

Related articles

Recent articles