Lithium Junior Rises on Permit Acquisition

Power Metals Corp. (TSXV: PWM), a lithium junior, charged higher after acquiring one of the largest lithium brine permit portfolios in Alberta

Sean Mason | January 27, 2017 | SmallCapPower

A lithium brine permit agreement powered up a lithium junior Friday. Here’s some small stocks making big moves on Friday, January 27, 2017 (as of 4 pm EST):

Power Metals Corp. (TSXV: PWM) shares climbed 22% to $0.36 on Friday after the lithium junior announced that it has executed an agreement to acquire one of the largest lithium brine permit portfolios in Alberta.

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As well, shares of Perseus Mining Limited (TSX: PRU) slid 15% to $0.36 as the gold miner said it experienced a 22% quarter-on-quarter reduction in ore processed due to extended plant upgrade works and a 3% decrease in head grade, which materially impacted gold production, gold sales and unit cost of production for the three-month period ended December 31, 2016.

Celestica Inc. (TSX: CLS), meanwhile, reported better-than-expected revenue and earnings for the fourth quarter of 2016. Celestica stock moved up 11% to $18.60 following the announcement.

Finally, Equitorial Exploration Corp. (TSXV: EXX) shares gained 9% to $0.06 after the explorer announced that it has entered into a 50/50 JV agreement with Voltaic Minerals Corp. on the Green Energy Lithium Project in Utah.

 

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