Junior Explorer Surges on Lithium Claims Acquisition

213 hectares adjoins Nemaska Lithium Inc.’s Whabouchi Property in Quebec

Sean Mason | April 15, 2016 | SmallCapPower

A lithium claims purchase adjoining Nemaska’s property sparked much speculation Friday. Here’s some small stocks making big moves on Friday, April 15, 2016 (as of 4 pm EST):

GTG logoGreat Thunder Gold Corp. (CVE:GTG) shares powered 650% higher to $0.075 after the resource junior announced that it has signed a non-binding letter of intent to purchase four mineral claims covering 213 hectares adjoining Nemaska Lithium Inc.’s Whabouchi Property in Quebec.

As well, shares of Mitel (TSE:MNW) slipped 10% to $9.11 as the enterprise and mobile communications provider said it has agreed to acquire all of the outstanding shares of Polycom (NASDAQ:PLCM) in a cash and stock transaction valued at about $1.96 billion. Under the terms of the agreement, Polycom shareholders will be entitled to $3.12 in cash and 1.31 Mitel common shares for each share Polycom common share held.

Sienna Resources Inc. (CVE:SIE), meanwhile, reported that it has acquired the Esmeralda lithium project, which borders Lithium X Energy Corp.’s (CVE:LIX) property in Nevada’s Clayton Valley. Sienna Resources stock moved up 46% to $0.16 following the announcement.

Finally, Orosur Mining Inc. (TSE:OMI) shares jumped 36% to $0.21 after the South American-focused gold producer announced that its all-in-sustaining-costs in its third quarter fell to US$978 per ounce from US$1,132 during the same period last year. The Company added that its year-to-date production of 27,917 ounce is ahead of its guidance of 30,000 to 35,000 ounces for the full year.

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