A significant funding announcement sent shares of a rare earths explorer sharply higher Thursday. Here’s some small stocks making big moves on Thursday, November 16, 2017 (as of 4 pm EST):
Mkango Resources Ltd. (TSXV:MKA) shares shot up 167% to $0.16 on Thursday after the rare earths explorer announced that it has entered into an agreement with Talaxis Limited, a wholly-owned subsidiary of Noble Group Limited, to fully fund a bankable feasibility study for Mkango’s Songwe Hill Rare Earths Project in Malawi, in return for a 49% interest.
As well, shares of Newstrike Resources Ltd. (TSXV:HIP) slipped 18% to $0.475 as the marijuana company acknowledged that it is in discussions with CanniMed Therapeutics Inc. (TSX:CMED) regarding a potential business combination transaction.
Zecotek Photonics Inc. (TSXV:ZMS), meanwhile, reported that it is now working with a second major European automobile manufacturer to integrate its 3D technology into a brand specific 3D head-up display for consumer use. Zecotek Photonics stock moved up 10% to $0.27 following the announcement.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.