Rare Earth Junior Jumps on Process Test Results

Medallion Resources Ltd. (TSXV:MDL), a rare earth junior, climbed after announcing that its process testwork produced a concentrate containing 41.6% of neodymium and praseodymium

Sean Mason | March 22, 2018 | SmallCapPower

Production of a rare earth concentrate sparked a bit of interest in a rare earth junior Thursday. Here’s some small stocks making big moves on Thursday, March 22, 2018 (as of 4 pm EST):

Medallion Resources Ltd. (TSXV:MDL) shares gained 39% to $0.18 on Thursday after the rare earth junior announced that its recent process testwork produced a cerium-depleted rare earth concentrate containing 41.6% of the magnet metals neodymium and praseodymium by mass.

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As well, shares of DIRTT Environmental Solutions Ltd. (TSX:DRT) slipped 11% to $4.66 as the interior construction company said it swung to a net loss of $7.4 million in fiscal 2017 from a profit of $7.3 million during 2016.

RNC Minerals (TSX:RNX), meanwhile, reported that is looking to divest its interest in its 100%-owned Beta Hunt gold and nickel mine located in Western Australia to focus on advancing its Dumont Nickel-Cobalt development project. RNC Minerals stock moved up 8% to $0.28 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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