Mineral Exploration Stock Climbs on Merger Announcement

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WCB Resources Ltd. (CVE:WCB), a mineral exploration stock, advanced after agreeing to merge with Kingston Resources Limited

Sean Mason | September 1, 2017 | SmallCapPower

A new mineral exploration stock is about to be formed, looking for gold and lithium Down Under. Here’s some small stocks making big moves on Friday, September 1, 2017 (as of 4 pm EST):

WCB Resources Ltd. (TSXV: WCB), a mineral exploration stock, gained 22% to $0.055 on Friday after agreeing to merge with Kingston Resources Limited to create an Australian stock exchange listed gold and lithium development and exploration company focused in Australia and Papua New Guinea. WCB shareholders will receive 4.5 ordinary shares of Kingston Resources for each WCB share held.

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As well, shares of Durango Resources Inc. (TSXV: DGO) rose 5% to $0.105 as the resource junior said it has acquired a 100% interest in two blocks of fractional claims in British Columbia located west and south of the GTT discovery area.

Nexus Gold Corp. (TSXV: NXS), meanwhile, reported that it has signed a definitive agreement with BELEMYIDA SA to acquire the right to earn up to 100% interest in the Rakounga Gold Property located in Burkina Faso, West Africa. Nexus Gold stock moved up 18% to $0.20 following the announcement.

Finally, Garibaldi Resources (TSXV: GGI) shares jumped 30% to $0.91 after the junior explorer announced that it has intersected two long intervals of nickel-copper sulphide mineralization totaling 176 meters and consisting of pyrrhotite-pentlandite-chalcopyrite in the first drill hole at its 100%-owned E&L Project at Nickel Mountain near Eskay Creek.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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