Platinum Junior Shines on Strategic Investment

Platinum Group Metals Ltd. (TSE:PTM), a platinum junior, jumped after Impala Platinum Holdings agreed to purchase a 15% interest in the Waterberg Project

Sean Mason | October 16, 2017 | SmallCapPower

A big platinum project investment was good news for shareholders of a platinum junior Monday. Here’s some small stocks making big moves on Monday, October 16, 2017 (as of 4 pm EST):

Platinum Group Metals Ltd. (TSX:PTM) shares surged 21% to $0.64 on Monday after the platinum junior announced that Impala Platinum Holdings Ltd. has agreed to purchase a 15% interest in the Waterberg Project for US$30.0 million, with the option to increase its stake to 50.01% through additional purchases and earn-in arrangements totaling US$166.0 million following the completion of a Definitive Feasibility Study.

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As well, shares of GT Gold Corp. (TSXV:GTT) slid 24% to $1.40 as the gold explorer revealed assay results from its Saddle gold discovery in British Columbia, which included 14.75 g/t gold over 12.15 metres.

Epicore BioNetworks Inc. (TSXV:EBN), meanwhile, reported that it has agreed to be acquired by Neovia S.A.S. for C$1.30 per share in cash, or a total consideration of approximately C$35.6 million. Epicore BioNetworks stock popped 25% to $1.30 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!

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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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