Mining Penny Stock Surges on Lithium Deal

Majescor Resources Inc. (CVE:MJX), a mining penny stock, acquires two blocks of lithium claims in Québec

Sean Mason | June 15, 2016 | SmallCapPower

A lithium claims acquisition was good news for one mining penny stock Wednesday, while a distribution agreement lifted a medical tech play. Here’s some small stocks making big moves on Wednesday, June 15, 2016 (as of 4 pm EST):

MJX logoMajescor Resources Inc. (CVE:MJX) shares climbed 39% to $0.125 on Wednesday after the mining penny stock announced that it has entered into an option agreement with a prospector to acquire two blocks of lithium claims in the James Bay Area of Québec, which will now be known as the Rupert Lithium project.

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As well, shares of Nordex Explosives Ltd. (CVE:NXX) powered 56% higher to $0.14 as the manufacturer of explosives for the mining, quarry and construction industries said it has entered into a going private transaction agreement at a price of $0.15 per share.

Cruz Capital Corp. (CVE:CUZ), meanwhile, reported that it has acquired the War Eagle Cobalt Prospect in British Columbia. Cruz Capital stock popped 63% to $0.245 following the announcement.

In addition, shares of Covalon Technologies Ltd. (CVE:COV) jumped 38% to $1.42 as the medical technologies company said it has signed a distribution agreement with Medline Industries Inc., the largest privately held medical distributor in the United States, whereby Medline will be distributing Covalon-branded products, including IV Clear, SurgiClear, and ColActive Plus product lines into its extensive U.S. customer base.

Finally, Rouge Resources Ltd. (CVE:ROU) shares gained 37% to $0.48 after the resource junior announced that it has entered into a binding letter of intent with Arena Minerals Inc. for the acquisition of the Pampas El Peñon gold project in Chile.

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