Potash Penny Stock Jumps on Project Update

Penny stock Potash Ridge Corporation (TSE:PRK) says Valleyfield construction could begin this year

Sean Mason | May 26, 2016 | SmallCapPower

Some investors applauded positive developments from a potash penny stock Thursday, while others soured on an acquisition. Here’s some small stocks making big moves on Thursday, May 26, 2016 (as of 4 pm EST):

PRK logoPotash Ridge Corporation (TSE:PRK) shares rose 15% to $0.30 on Thursday after the potash projects penny stock announced that negotiations are advancing on various commercial matters related to the Valleyfield project in Quebec, including input commodity supply arrangements, offtake agreements, and project financing. The Company added that if all goes well it expects to break ground on construction in late 2016.

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As well, shares of SMART Technologies Inc. (TSE:SMA) slipped 11% to $5.77 as the provider of collaboration solutions said it has agreed to be acquired by Foxconn Technology Group for a cash payment of US$4.50 per share.

Noram Ventures Inc. (CVE:NRM), meanwhile, reported that it has acquired, via staking, an additional 200 placer claims in Nevada’s Clayton Valley lithium brine exploration area, bringing the Company’s total land package to 7,738.18 acres. Noram Ventures stock moved up 14% to $0.04 following the announcement.

In addition, shares of Electrovaya Inc. (TSE:EFL) powered 48% higher to $1.41 after the manufacturer of Lithium Ion Super Polymer batteries, battery systems, and battery-related products for energy storage said it has signed a Multiyear Service Agreement with a U.S. based Fortune 1000 OEM to supply Lithium Ion Battery Modules, Battery Management Systems and related services. The agreement is expected to generate revenues of up to $80 million for Electrovaya over the next three years.

Finally, Athabasca Nuclear Corporation (CVE:ASC) shares continues to move higher Thursday, up 18% to $0.13. On Wednesday, its share price climbed 22% after the junior explorer announced that it has acquired the Sun Valley Platinum Group Element (PGE) Project in Quebec.

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