Lithium Junior Climbs on Strategic Alliance

Sean Mason | April 11, 2016 | SmallCapPower

A lithium junior’s clay move was well received Monday, while certain software shareholders got a bit of disappointing news. Here’s some small stocks making big moves on Monday, April 11, 2016 (as of 4 pm EST):

LAC logoLithium Americas Corp. (TSX: LAC) shares jumped as much as 12% before closing down 5% to $0.74 on Monday after the lithium project developer announced that its wholly-owned subsidiary, Hectatone Inc., has entered into a strategic alliance with TOLSA, S.A., for the purpose of forming a strategic alliance to collectively pursue growth opportunities in the global clay minerals markets.

As well, shares of Redknee Solutions Inc. (TSX: RKN) slid 17% to $1.84 as the provider of real-time monetization and subscriber management software said it was “disappointed” by its preliminary second-quarter results, which came in below the Company’s internal expectations as delays in customer purchasing decisions continued to impact its software license revenue in the short term.

International Lithium Corp. (TSXV: ILC), meanwhile, reported that it has initiated a 1750 metre diamond drill hole program at the Avalonia Lithium Project in the Republic of Ireland. International Lithium stock moved up 24% to $0.18 following the announcement.

Finally, Orsu Metals Corporation (TSX: OSU) shares powered 50% higher to $0.03 as the mineral explorer/developer announced the conditional sale of its 94.75% interest in GRK MLD LLP (MLD), which owns the Karchiga Project in the Republic of Kazakhstan, for an initial US$7.75 million, plus deferred consideration of up to US$2 million based on recovery of VAT and losses accumulated in MLD.

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