Lithium Penny Stock Soars on Sample Results

92 Resources Corp. (CVE:NTY), a lithium penny stock, powered higher after announcing assay results from its Hidden Lake Lithium property in the Northwest Territories

Sean Mason | June 7, 2016 | SmallCapPower

One lithium penny stock play powered up on assays Tuesday, while another gained ground on property acquisitions. Here’s some small stocks making big moves on Tuesday, June 7, 2016 (as of 4 pm EST):

NTY logo92 Resources Corp. (CVE:NTY) shares shot up 165% to $0.265 on Tuesday after the lithium penny stock explorer announced that it has completed a reconnaissance visit of its wholly-owned Hidden Lake Lithium property in the Northwest Territories. Sample results included up to 3.06% Li2O (with an average grade of 2.54%).

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As well, shares of Eagle Energy Inc. (TSE:EGL) slipped 4% to $0.76 as the oil and gas producer/explorer said it will be reducing its monthly dividend to $0.005 per share beginning with the June 2016 payout.

Migao Corporation (TSE:MGO), meanwhile, reported that it has signed a definitive arrangement agreement to go private for a cash consideration of $0.75 per share. Migao stock popped 84% to $0.70 following the announcement.

Finally, Alix Resources Corp. (CVE:AIX) shares climbed 12% to $0.145 after the mining exploration company announced the acquisition of a portfolio of lithium properties in the Preissac-Lacorne plutonic complex of the Abitibi Greenstone Belt in Quebec from arms-length vendors.

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