Sean Mason | April 4, 2016 | SmallCapPower
Shares of a nickel junior gained a few pennies on gold results Monday, while other shareholders soured on a buyout offer. Here’s some small stocks making big moves on Monday, April 4, 2016 (as of 4 pm EST):
Royal Nickel Corporation (TSX: RNX) shares jumped 44% to $0.28 on Monday after the resource explorer/project developer announced that high-grade visible coarse gold has been successfully mined in a development drive at the Beta Hunt Mine in Australia. The Company, which recently acquired 66% of Salt Lake Mining (100% owner of Beta-Hunt), has also signed an agreement with shareholders who hold the remaining 34% of Salt Lake Mining, giving Royal Nickel the right to acquire their shares during the six month period beginning April 1, 2016.
As well, shares of Caza Oil & Gas, Inc. (TSX: CAZ) slid 33% to $0.01 as the oil and gas explorer/developer said its majority shareholder, Talara Opportunities V, LP, has offered to take the Company private at a cash price of US$0.00481 per share.
Wallbridge Mining Company Limited (TSX: WM), meanwhile, reported results from the ongoing 12,000 metre drilling program on its flagship Parkin exploration project in Sudbury, Ontario, which included 24.25 metres of 1.22% nickel, 1.50% copper, and 2.15 g/t PGMs from 35.6 metres depth. Wallbridge Mining stock moved up 25% to $0.05 following the announcement.
In addition, shares of Nemaska Lithium Inc. (TSXV: NMX) gained 15% to $0.76 as the lithium project developer released an updated Feasibility Study on its Whabouchi Mine and Concentrator in Quebec, which included a 106% improvement in the pre-tax NPV and a 49% increase in the pre-tax IRR.
Finally, Convalo Health International, Corp. (TSXV:CXV) shares rose 4% to $0.275 after the provider of addiction recovery services in United States announced that it has opened an outpatient behavioral health and addiction recovery center in San Diego, and added that it is in the process of securing residential, detox and behavioral health facilities that can house up to 18 patients.
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