Macarthur Minerals Limited (CVE:MMS) gets a capital infusion from Rare Earth Minerals plc
Sean Mason | May 10, 2016 | SmallCapPower
A popular lithium penny stock remained hot Tuesday, while a suspension tarnished a gold miner. Here’s some small stocks making big moves on Tuesday, May 10, 2016 (as of 4 pm EST):
Lithium penny stock making big moves
Macarthur Minerals Limited (CVE:MMS) shares jumped as much as 10% before ending the day down 3% to $0.145 on Tuesday after the lithium exploration and development company announced that Rare Earth Minerals plc completed the acquisition of 15 million units of the Lithium penny stock Macarthur Minerals at a price of C$0.02 per unit. As a result of this transaction, Rare Earth Minerals plc owns approximately 15.26% of Macarthur Minerals’ issued and outstanding common shares.
As well, shares of Aureus Mining Inc. (TSE:AUE) sank 31% to $0.09 as the West African gold producer said that operations at the New Liberty Gold Mine have been temporarily suspended as a consequence of problems with the detoxification circuit in the process plant.
Guyana Goldfields Inc. (TSE:GUY), meanwhile, provided 2016 production guidance of approximately 130,000 to 150,000 ounces of gold, with expected All-In-Sustaining Costs of between US$587 to $637 per ounce, assuming a gold price of $1,000 per ounce. Guyana Goldfields stock eased 9% to $6.91 following the announcement.
Finally, Amarillo Gold Corp. (CVE:AGC) shares fell 25% to $0.285 after the gold project developer announced that it has received, from the Secretary of Environment, Water Resources, Infrastructure, Cities and Metropolitan Affairs of the state of Goiás, the preliminary license for the proposed Posse mine at the Mara Rosa project in Brazil.
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