Mining Penny Stock Powers Higher on Property Deal

Duran Ventures Inc. (CVE:DRV) to split profits from Peru mining operation

Sean Mason | May 11, 2016 | SmallCapPower

Some shareholders benefitted from a junior mining agreement Wednesday, while a short attack weighed on a healthcare play. Here’s some small stocks making big moves on Wednesday, May 11, 2016 (as of 4 pm EST):

DRV logoDuran Ventures Inc. (CVE:DRV) shares shot up 67% to $0.175 on Wednesday after the mineral exploration company announced that it has entered into a mineral assignment agreement to extract and process precious and base metal mineral for its 80% owned Aguila Norte Processing Plant from the Chucara property in Peru. The Company added that profits will be shared equally with the owner of the concession after prepayment of expenses regarding a fixed processing fee, transport, and extraction costs.

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As well, shares of Nobilis Health Corp. (TSE:NHC) slid 18% to $4.78 as the healthcare development and management company said its first-quarter net loss widened to $5.0 million from $4.5 million in the same period last year, as Nobilis said it is “still feeling the impact of significant legal and accounting expenses related to the October short attack.”

The Intertain Group Limited (TSE:IT), meanwhile, reported that it swung to a record first-quarter profit of $0.14 a share from a $0.80 per-share loss during the same period last year. Intertain Group stock moved up 11% to $11.74 following the announcement.

Finally, Sleep Country Canada Holdings Inc. (TSE:ZZZ) shares rose 13% to $21.15 after the specialty mattress retailer announced Q1 same-store sales growth of 11.7%.

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