Lithium Americas Corp. (TSX: LAC), a lithium junior, moved up after announcing that Ganfeng will make an investment to advance the construction of the Cauchari-Olaroz lithium project in Argentina
Sean Mason | January 17, 2017 | SmallCapPower
A big China investment was great news for shareholders of a lithium junior Tuesday. Here’s some small stocks making big moves on Tuesday, January 17, 2017 (as of 4 pm EST):
Lithium Americas Corp. (TSX: LAC) shares climbed 8% to $0.96 on Tuesday after the lithium junior announced an investment agreement with GFL International Co., Ltd. (Ganfeng) for funding to advance the construction of the Cauchari-Olaroz lithium project in Argentina. Ganfeng, the largest integrated lithium producer in China, has agreed to invest US$174 million, which comprises of the purchase of 19.9% of the outstanding common shares of Lithium Americas at a price of C$0.85 a share, the right to buy a fixed portion of the lithium carbonate production from the Cauchari-Olaroz project, and a US$125 million project debt facility.
Related: Canadian Lithium Junior is Poised to Become an Industry Disruptor
As well, shares of Nemaska Lithium Inc. (TSX: NMX) slipped 7% to $1.44 as the lithium project developer said it is planning a drilling campaign of approximately 4,000 meters with the goal of confirming the Eastern extension of the Doris Zone. The campaign is expected to begin in March 2017, and continue for three months, at which point the Company will assess updating its June 2016 feasibility study for the Whabouchi Project.
UrtheCast Corp. (TSX: UR), meanwhile, reported that it has entered into a binding agreement with a confidential government customer for the sale and shared operation of the first two satellites in the OptiSARM Constellation, the world’s first commercial EO constellation with integrated optical and Synthetic Aperture Radar sensors, for US$180 million. The customer has also agreed to pay an additional US$30 million for other products and services related to the sale of the satellites, contingent on the parties reaching mutual agreement on the final scope of these deliverables. UrtheCast stock popped 29% to $1.15 following the announcement.
Finally, Apivio Systems Inc. (TSXV: APV) shares surged 45% to $0.385 after the provider of VoIP solutions announced that Nuri Telecom Company Limited has made an offer to acquire all of the issued and outstanding common shares of Apivio at a price C$0.40 per share in cash.
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