Precious Metals Explorer Jumps on Takeover Bid: Sean Mason’s Canadian Small Cap Market Movers

An acquisition
in the precious metals space was well received Monday, while a lack of revenue
was not. Here’s some small stocks making big moves on Monday, August 31, 2015
(as of 4 pm EST):

Argentex Mining (TSXV:
) shares powered 120% higher to $0.055 on volume of more than 1.5
million shares Monday after the Argentinian precious metals explorer said it
has agreed to be acquired by Australian-listed Austral Gold Limited in an
all-stock transaction, in which each Argentex share is being exchanged for
0.5651 Austral shares.

As well,
shares of EXO U Inc. (TSXV:
) sank 48% to $0.235 as the software provider announced that it had no
revenue in the first quarter ended June 30, 2015, compared with revenue of
$503,189 during the same period last year. The company attributed the absence
of sales to the building of new sales channels with partners coupled with the
timing of the launch of the new version of its product offering. 

Dunnedin Ventures Inc. (TSXV:
), meanwhile, reported the completion of Phase 1 field investigations
and collection of several tonnes of diamondiferous kimberlite plus
approximately two tonnes of mineral concentrates from till sampling. The
company added that the field investigations were more cost efficient than
originally envisioned, as the recent opening of Agnico Eagle Ltd.’s Meliadine
mine 25 km north of Rankin Inlet has expanded infrastructure and increased
local support services. Dunnedin Ventures stock moved up 40% to $0.07 following
the announcement.

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