First Mining Finance Corp. buys Ontario gold project in an all-stock transaction
Sean Mason | May 3, 2016 | SmallCapPower
A property stock swap made a few owners of a gold explorer’s penny stocks a little richer Tuesday, while the woes continued for one energy play. Here’s some small stocks making big moves on Tuesday, May 3, 2016 (as of 4 pm EST):
Chalice Gold Mines Limited (TSE:CXN) shares climbed 9% to $0.185 on Tuesday after the gold explorer announced that it has agreed to sell its Cameron Gold Project in Ontario to First Mining Finance Corp. (CVE:FF) in consideration for 32,260,836 First Mining common shares.
As well, shares of Lightstream Resources Ltd. (TSE:LTS) continued to fall, down 17% to $0.19. On Monday, the company’s stock dropped 29% as the oil and gas producer/explorer said if it is unable to execute on an appropriate strategic transaction in a timely manner, based on current commodity prices, its funds flow from operations is not expected to be sufficient to fund its upcoming junior debt interest payment obligations, the first of which is due June 15, 2016.
Opawica Explorations Inc. (CVE:OPW), meanwhile, reported that it has received conditional acceptance from the TSX Venture Exchange for its acquisition of a 100% interest in the Bazooka, McWatters and Arrowhead claims located in northern Quebec. Opawica Explorations stock moved up 62% to $0.105 following the announcement.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
DISCLAIMER
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source.
