Renewable Energy Stock Blows Higher on Project LOI

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NaiKun Wind Energy Group Inc. (CVE:NKW), a renewable energy stock, climbed after announcing a Letter of Intent with Denmark’s DONG Energy

Sean Mason | September 13, 2017 | SmallCapPower

A Letter of Intent (LOI) to advance a B.C. wind project attracted more than a few speculators to a renewable energy stock Wednesday. Here’s some small stocks making big moves on Wednesday, September 13, 2017 (as of 4 pm EST):

NaiKun Wind Energy Group Inc. (TSXV: NKW), a renewable energy stock, powered 85% higher to $0.12 on Wednesday after announcing a Letter of Intent with Denmark’s DONG Energy to further advance NaiKun’s offshore wind project, proposed in British Columbia’s Hecate Strait between Haida Gwaii and Prince Rupert.

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As well, shares of Quaterra Resources Inc. (TSXV: QTA) slid 14% to $0.09 as the copper explorer and its subsidiary, Singatse Peak Services LLC, said that Freeport-McMoRan Nevada LLC has terminated an option to acquire an interest in Quaterra’s Yerington Copper Project in Nevada.

Ballard Power Systems (TSX: BLDP), meanwhile, reported that it has collaborated with Nisshinbo Holdings to develop a Non Precious Metal Catalyst (NPMC) for use in the world’s first commercialized NPMC-based proton exchange membrane fuel cell product. Ballard Power Systems stock popped 26% to $5.72 following the announcement.

Finally, Vulcan Minerals Inc. (TSXV: VUL) shares rose 30% to $0.065 after the junior explorer announced that it has acquired a strategic land position in the South Voisey’s Bay nickel-copper-cobalt project in Labrador.

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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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