Small
stocks making big moves on Tuesday, June 9, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Eagle Hill Exploration Corporation (TSXV:
EAG) shares powered 138% higher to $0.81 on Tuesday after the gold project
developer announced that it has agreed to be acquired by Oban Mining Corporation (TSX:
OBM). Eagle Hill shareholders will receive 10 Oban shares for each common
share of Eagle Hill held. As part of the same transaction, Oban will also acquire
Temex Resources, Ryan Gold, and Corona Gold.
As well,
shares of North Arrow Minerals Inc. (TSXV:
NAR) plunged 56% to $0.42 as the diamond explorer said it has received the
results of a valuation exercise completed on a diamond parcel recovered from
the Qilalugaq Diamond Project bulk sample. The parcel of 383.55 carats of
diamonds greater than +1DTC (~1 mm) was valued at $13,795, or $36 per carat,
and a modelled range of possible values was also produced with a “possible
low” model price of $43 per carat and a “possible high” model
price of $92 per carat.
Mawson Resources Limited (TSX:
MAW), meanwhile, reported that the Northern Finland Administrative Court
has rejected all claims made by a non-governmental organization in an appeal
against an exploration permit granted by the Finnish Mining Authority. Mawson
Resources stock moved up 31% to $0.295 following the announcement.
Finally,
Primeline Energy Holdings Inc. (TSXV:
PEH) jumped 21% to $0.50 after the China-focused oil and gas producer/explorer
announced that it has signed a Memorandum of Understanding to merge with Loyz
Energy Limited. Primeline shareholders will receive approximately 10.023 Loyz shares
for each Primeline share held, with each Loyz share being valued at $0.10.
