Golden Dawn Minerals Inc. (CVE:GOM), a gold penny stock, shot up after announcing a US$4 million Metal Purchase Agreement
Sean Mason | July 22, 2016 | SmallCapPower
Potential pending production sparked much speculation in a gold penny stock Friday. Here’s some small stocks making big moves on Friday, July 22, 2016 (as of 4 pm EST):
Gold penny stock Golden Dawn Minerals Inc. (CVE:GOM) climbed 33% to $0.40 on Friday after announcing that a San Francisco based private equity fund, RIVI Capital, intends to pay Golden Dawn US$4 million in two tranches in a Metal Purchase Agreement, which will be used to fund CAPEX to resume mining, processing and the purchase of production from the Greenwood Project in British Columbia.
As well, shares of Noram Ventures Inc. (CVE:NRM) gained 7% to $0.08 as the lithium junior revealed that a large previously drilled bore hole has been encountered during initial Phase I surface and sub-surface sampling on its Hades lithium/clay claims group in Nevada’s Clayton Valley.
Serengeti Resources Inc. (CVE:SIR), meanwhile, reported that its previously-announced private placement of C$500,000 has been oversubscribed and it will be increasing that amount to $660,000 at a price of $0.10 per unit. Serengeti Resources stock moved up 17% to $0.135 following the announcement.
In addition, shares of Carube Copper Corp. (CVE:CUC) powered 29% higher to $0.18 as the mineral exploration company said it has made what it calls a new copper/gold discovery at its Bellas Gate Joint Venture in Jamaica.
Finally, Horizon North Logistics Inc. (TSE:HNL) shares rose 8% to $1.69 after the provider of full service solutions in camp management accommodations announced that it has entered into an agreement to acquire Empire Camp Equipment Ltd. for a purchase price of about $44.5 million, payable through a combination of cash and newly-issued Horizon North common shares.
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