Rusoro Mining Ltd. (CVE:RML), a gold junior, announced that it has been awarded US$967.77 million in damages
Sean Mason | August 23, 2016 | SmallCapPower
A potential windfall grabbed the attention of more than a few gold junior speculators Tuesday. Here’s some small stocks making big moves on Tuesday, August 23, 2016 (as of 4 pm EST):
Rusoro Mining Ltd. (CVE:RML) shares shot up 123% to $0.345 on Tuesday after the gold junior revealed that it has been awarded US$967.77 million in damages, plus pre and post-award interest which currently equates to in excess of US$1.2 billion, by the Arbitration Tribunal of the World Bank’s International Centre for the Settlement of Investment Disputes in the arbitration brought by Rusoro against Venezuela.
As well, shares of Sphinx Resources Ltd. (CVE:SFX) gained 75% to $0.105 as the junior explorer said it has agreed to form a 50-50% joint venture with Sirios Resources Inc. to explore 551 claims that are presently under request by this consortium along the northwest extension of the Cheechoo-Éléonore trend in Québec.
Redstar Gold Corp. (CVE:RGC), meanwhile, reported that Eric Sprott has agreed to acquire 30.0 million common shares of the Company through a private placement at a price of $0.10 per share. Redstar Gold stock popped 24% to $0.155 following the announcement.
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