Resource Explorer Climbs on Claims Acquisition

MacDonald Mines Exploration Ltd. (CVE:BMK), a resource explorer, moved up after acquiring six silica claims in Quebec

Sean Mason | November 22, 2016 | SmallCapPower

A few speculators took a shine to a resource explorer’s silica news Tuesday. Here’s some small stocks making big moves on Tuesday, November 22, 2016 (as of 4 pm EST):

MacDonald Mines Exploration Ltd. (CVE:BMK) shares powered 20% higher to $0.06 on Tuesday after the resource explorer announced that it has agreed to acquire six claims known as the “Charlevoix Silica Property” in Quebec. The property is adjacent to Rogue Resources’ Silicon Ridge Project, which hosts a 43-101 Measured and Indicated resource of 9.7Mt @ 98.6% SiO2.

As well, shares of Naturally Splendid Enterprises Ltd. (CVE:NSP) slipped 18% to $0.36 as the biotechnology company said it has experienced significant growth in gross revenue in 2016 ($6,333,460 YTD) though bulk sales slowed in the third quarter. The Company added that with completion of the final tranche of its private placement, it received an additional $3.2 million, which should give it the working capital to support increased sales and address the production bottlenecks it has been experiencing.

Lithium Americas Corp. (TSE:LAC), meanwhile, reported the re-branding of its Hectatone Inc. clay minerals business as RheoMinerals Inc. As well, RheoMinerals said it has entered into a Technical Assistance and Royalty Agreement with Delmon Co Ltd., part of The Delmon Group of Companies in Saudi Arabia. As consideration for technical assistance, RheoMinerals will receive US$1.2 million in progress payments upon Delmon achieving certain construction and operational milestones in addition to the reimbursements of expenses and costs of technical personnel. RheoMinerals will also receive royalties from the future Delmon Plant production. Lithium Americas stock moved up 14% to $0.81 following the announcement.

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Finally, Mission Ready Services Inc. (CVE:MRS) shares jumped 6% to $0.095 after the provider of personal protective equipment announced what it called the successful completion of the Marines Next Generation Body Armor development project for the United States Marine Corps.

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