Exploration Stock Surges on Project LOI

Nickel One Resources Inc. (CVE:NNN), an exploration stock, moved up after announcing a Letter of Intent for the purchase of the Lantinen Koillismaa Nickel-Copper-Platinum Group Element project in Finland

Sean Mason | August 11, 2016 | SmallCapPower

Some exploration stock speculators were digging a potential mineral property acquisition Thursday. Here’s some small stocks making big moves on Thursday, August 11, 2016 (as of 4 pm EST):

Exploration stock Nickel One Resources Inc. (CVE:NNN) jumped 29% to $0.11 on Thursday after announcing that it has signed a Letter of Intent with Finore Mining for the purchase of a 100% interest in the Lantinen Koillismaa Nickel-Copper-Platinum Group Element project in Finland, in consideration for five million common shares of Nickel One.

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As well, shares of NAPEC Inc. (TSE:NPC) slipped 17% to $1.00 as the provider of construction and maintenance services to the public utility and heavy industrial markets said its second-quarter revenue fell to $77.8 million from $82.1 million, while swinging to a loss of a penny a share from a $0.01 per share profit during the same period last year.

Etrion Corporation (TSE:ETX), meanwhile, reported Q2 net income of US$1.4 million, compared with a net loss of US$10.1 million during the same period last year. Etrion is an independent power producer that develops solar power generation plants. Its stock price moved up 21% to $0.38 following the announcement.

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