Resource Junior Jumps on Project Financing

Hudson Resources Inc. (CVE:HUD), a resource junior, surged after announcing the completion of its debt funding arrangement for its White Mountain project

Sean Mason | July 17, 2017 | SmallCapPower

Pending production based on project financing sparked a bit of speculation in a resource junior Monday. Here’s some small stocks making big moves on Monday, July 17, 2017 (as of 4 pm EST):

Hudson Resources Inc. (TSXV: HUD) shares powered 23% higher to $0.53 on Monday after the resource junior announced the completion of its debt funding arrangement for a Senior Loan of US$13.0 million and a Subordinated Loan of US$9.5 million, for a total of US$22.5 million, which Hudson said will allow it to complete its funding requirements and maintain its current construction schedule to have the White Mountain project in Greenland in production by 2018.

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As well, shares of GeneNews Limited (TSX: GEN) slipped 16% to $0.155 as the provider of advanced diagnostics and personalized medicine said it has issued a total of 2,279,078 common shares to make a payment of approximately US$390,000 to Participating Directors for fees and expenses earned and unpaid, with the remaining outstanding balance of US$40,000 to be paid in cash.

Clean Commodities Corp. (TSXV: CLE), meanwhile, reported the acquisition of the Hampton Quarry Zeolite Project located in Nova Scotia, its second zeolite project. Clean Commodities stock moved up 7% to $0.075 following the announcement.

Finally, Aurvista Gold Corporation (TSXV: AVA) shares rose as much as 6% before ending unchanged at $0.265 after the gold explorer announced the final drill results from the recently completed 2017 spring-summer drill program at its Douay Gold Project in northern Quebec, which included 9.0 metres of 4.53 g/t gold.

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

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