Resource Junior Powers Higher on Strategic Investment

Tinka Resources Limited (TSXV:TK), a resource junior, climbed after receiving an investment from Compañia de Minas Buenaventura SAA

Sean Mason | December 19, 2019 | SmallCapPower

A big mining investment boosted shares of a resource junior Thursday. Here’s some small stocks making big moves on Thursday, December 19, 2019 (as of 11:30 am EST):

Tinka Resources Limited (TSXV:TK) shares jumped 46% to $0.16 on Thursday after the resource junior announced that it has received a strategic investment of C$16 million from Compañia de Minas Buenaventura SAA via a private placement at price of C$0.243 per share.

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As well, shares of Clean TeQ Holdings Limited (TSX:CLQ) gained 17% to $0.205 as the metals recovery and industrial water treatment provider said it will collaborate with Panasonic Corporation Global Procurement Company to develop applications for Scandium Aluminium Alloys for Panasonic Group. The two companies have also agreed to a binding Scandium Offtake Heads of Agreement for Clean TeQ to supply up to five tonnes per annum of scandium oxide from the Company’s Sunrise Project in Australia.

QMX Gold Corporation (TSXV:QMX), meanwhile, reported that Eldorado Gold Corporation will make a $4,087,500 strategic investment in QMX by way of a non-brokered private placement at a price of $0.06 per share, resulting in a 19.99% equity stake in QMX. QMX Gold stock moved up 36% to $0.075 following the announcement.

Finally, National Access Cannabis Corp. (TSXV:META) shares rose 7% to $0.31 after the Canadian cannabis retailer announced that Opaskwayak Cree Nation will lend up to $11 million to the Company. META also said it has entered into an agreement with one of the winners of the Ontario cannabis store lottery for an anticipated new Toronto cannabis retail location.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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