PyroGenesis Canada shares are heating up
Sean Mason | April 19, 2016 | SmallCapPower
Shares of plasma torch maker began to heat up Tuesday, while a takeover bid powered a gold junior. Here’s some small stocks making big moves on Tuesday, April 19, 2016 (as of 4 pm EST):
PyroGenesis Canada Inc. (CVE:PYR) shares jumped 40% to $0.28 on Tuesday after the manufacturer of plasma torch products announced that it has successfully completed the installation of its DROSRITE Furnace System at its client’s (a North American automobile parts manufacturer) production facility, the results of which exceeded the Company’s expectations. DROSRITE is a sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis also reported Tuesday that the early test results of its PUREVAP Quartz Vaporization Reactor demonstrated that it can transform high purity quartz into silicon metal.
As well, shares of SnipGold Corp. (CVE:SGG) surged 119% to $0.285 as the junior explorer said it has agreed to be acquired by Seabridge Gold Inc. (TSE:SEA) in an all-stock transaction. SnipGold shareholders will receive 1/63rd of a common share of Seabridge in exchange for each SnipGold share held.
Platinum Group Metals Ltd. (TSE:PTM), meanwhile, reported a 13% increase in the F Zone Grade and a 89% Increase in the Indicated platinum, palladium, rhodium and gold resource to 24 million ounces with a further 12 million ounces Inferred on the 58.65% owned Waterberg Joint Venture in South Africa. Platinum Group Metals stock moved up 20% to $4.07 following the announcement.
Finally, Copper Mountain Mining Corporation (TSE:CUM) shares rose 18% to $0.59 after the miner announced that, for the second consecutive year, it has been awarded the Edward Prior Award for mine safety the Provincial Government of British Columbia.
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