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.

Win Big With Our Small Cap Picks


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.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here