Potash Junior Jumps on Joint Venture Agreement

Gensource Potash Corporation (CVE:GSP), a potash junior, moved sharply higher after announcing the creation of a joint venture company with Essel Group ME Limited

Sean Mason | April 5, 2017 | SmallCapPower

A joint venture agreement with a deep-pocketed investor helped propel shares of a potash junior Wednesday. Here’s some small stocks making big moves on Wednesday, April 5, 2017 (as of 4 pm EST):

Gensource Potash Corporation (TSXV: GSP) shares climbed 17% to $0.21 on volume of more than 3.5 million shares Wednesday after the potash junior announced that it has executed a shareholder agreement with Essel Group ME Limited to create a joint venture company, Vanguard Potash Corp., to develop the Vanguard Project in Saskatchewan, with a goal of achieving one million tonnes per annum of production.

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As well, shares of Talon Metals Corp. (TSX: TLO) slipped 12% to $0.115 as the mineral exploration company provided an update on the Tamarack Nickel-Copper-PGE project in Minnesota, saying that “no additional significant mineralization has been intercepted in the 480 Zone.”

Solar Alliance Energy, Inc. (TSXV: SAN), meanwhile, reported that it will be working with William Shatner to promote the benefits of solar energy through an public awareness campaign titled “Join the Alliance — Save Money, Save the World.” Solar Alliance Energy stock moved up 18% to $0.23 following the announcement.

Finally, Imex Systems Inc. (TSXV: IMEX) shares surged 39% to $0.41 after the software solution provider to Governments, Municipalities and Public Authorities announced that it expects to receive a minimum of C$3 million in Q2, as the initial payment from the $19.51 million contract previously announced in December 2016.

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Disclosure: The author is a shareholder of Gensource Potash.

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