Ceylon Graphite Corp. (CVE:CYL), a graphite junior, jumped after announcing that it has begun drilling at its K1 site in Sri Lanka
Sean Mason | April 27, 2017 | SmallCapPower
Drilling at a past-producing mine was good news for shareholders of a graphite junior Thursday. Here’s some small stocks making big moves on Thursday, April 27, 2017 (as of 4 pm EST):
Ceylon Graphite Corp. (TSXV: CYL) shares surged 82% to $0.40 on Thursday after the graphite junior announced that it has begun drilling at its K1 site, which is a past producing graphite mine in Sri Lanka. The Company added that drilling at K1 will initially focus on the area identified during VLF mapping around the old mine site.
As well, shares of Lumenpulse Inc. (TSX: LMP) soared 84% to $21.07 as the manufacturer of specification-grade LED lighting solutions said it has entered into an arrangement agreement with the intent to be taken private for $21.25 per share in cash.
Canam Group Inc. (TSX: CAM), meanwhile, reported that it has entered into a definitive agreement pursuant for a going-private transaction at a price of $12.30 per share in cash. Canam Group stock popped 97% to $12.19 following the announcement.
Finally, Zazu Metals Corporation (TSXV: ZAZ) shares jumped 17% to $0.35 after the mineral exploration company announced that it has agreed to be acquired by Solitario Exploration & Royalty Corp. (TSX: SLR) in an all-stock transaction. Zazu shareholders will receive 0.3572 of a common share of Solitario in exchange for each Zazu share held.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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