Cobalt Junior Powers Higher on China Agreement

Global Energy Metals Corporation (CVE:GEMC), a cobalt junior, climbed after announcing a strategic cooperation agreement with China’s Beijing Easpring Material Technology Co.

Sean Mason | March 22, 2017 | SmallCapPower

A Chinese strategic cooperation agreement boosted a cobalt junior Wednesday. Here’s some small stocks making big moves on Wednesday, March 22, 2017 (as of 4 pm EST):

Global Energy Metals Corporation (TSXV: GEMC) shares jumped as much as 24% before ending 2% higher at $0.21 on Wednesday after the cobalt junior announced the signing of a long-term strategic cooperation agreement with China’s Beijing Easpring Material Technology Co., a battery manufacturing company, to jointly invest in, and develop, cobalt projects.

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As well, shares of Tinkerine Studios Ltd. (TSXV: TTD) plunged 35% to $0.095 as the manufacturer of 3D printers and software said it has encountered a contract dispute over payment terms in the amount of $541,098 for a sale booked during the third quarter of 2016. The Company added that it has terminated the distributer agreement with the third party.

Canyon Services Group Inc. (TSX: FRC), meanwhile, reported that it has agreed to be acquired by Trican Well Service Ltd. in an all-stock transaction valued at approximately $637 million, including the assumption of about $40 million in Canyon debt. Canyon Services shareholders will receive 1.70 common shares of Trican for each Canyon Services share held. Canyon Services Group stock popped 18% to $5.94 following the announcement.

Finally, Integra Gold Corp. (TSXV: ICG) shares rose 6% to $0.83 after the gold junior announced an updated resource estimate on the Triangle Deposit as part of its 100% owned Lamaque Gold Project in Québec, which showed a 100% increase in the Indicated resource from 737,590 to 1,473,530 gold ounces.

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