Potash Ridge Corporation (TSE:PRK), a potash penny stock, moved up after announcing a Memorandum of Understanding with SNC-Lavalin Inc.
Sean Mason | June 23, 2016 | SmallCapPower
A potential development deal boosted a potash penny stock Thursday, while a PEA garnered a bit of investor attention. Here’s some small stocks making big moves on Thursday, June 23, 2016 (as of 4 pm EST):
Potash penny stock Potash Ridge Corporation (TSE:PRK) jumped 13% to $0.31 after announcing that it has entered into a Memorandum of Understanding with SNC-Lavalin Inc. to establish a long-term relationship for the development of the Blawn Mountain Project in Utah.
As well, shares of Perseus Mining Limited (TSE:PRU) slid 15% to $0.48 as the gold miner said it has raised approximately A$94.3 million at A$0.50 per New Share, with existing retail shareholders having the opportunity to subscribe for 1 New Share for every 10 shares held at the Record Date at A$0.50 per New Share.
Nouveau Monde Mining Enterprises Inc. (CVE:NOU), meanwhile, reported the results of a Preliminary Economic Assessment (PEA) covering the West Zone of the Tony Claim Block, part of its Matawinie Graphite Property in Quebec. Highlights included a pre-tax Net Present Value of $403.7 million, at an 8% discount rate, as well as a pre-tax Internal Rate of Return of 31.2%. Nouveau Monde Mining stock moved up 15% to $0.34 following the announcement.
Finally, Northern Shield Resources Inc. (CVE:NRN) shares gained 21% to $0.17 after the junior explorer announced that the first phase of sampling and mapping at its Huckleberry property in the Labrador Trough is complete and an airbourne survey is underway, which will then be flown over its Séquoi and Idefix targets.
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