Resource Explorer Surges on Iron Ore Project Funding

Share on Linkedin

Macarthur Minerals Limited (TSXV: MMS), a resource explorer, climbed after announcing an agreement to raise up to A$200 million to develop its Australian iron ore project

Sean Mason | February 14, 2017 | SmallCapPower

More than a few speculators were attracted to an iron ore resource explorer Tuesday. Here’s some small stocks making big moves on Tuesday, February 14, 2017 (as of 4 pm EST):

Macarthur Minerals Limited (TSXV: MMS) shares moved 69% higher to $0.135 on Tuesday after the resource explorer announced that it has entered into a non-exclusive mandate with the Tulshyan Group to raise up to A$200 million with an initial tranche of A$50 million to develop the Company’s Ularring hematite iron ore project located in Western Australia.

Win Big With Our Small Cap Picks

 

As well, shares of Northern Dynasty Minerals Ltd. (TSX: NDM) sank 22% to $3.25 after hedge fund manager Kerrisdale Capital Management published a report asserting that Northern Dynasty’s Pebble copper/gold deposit in Alaska is not “commercially viable.”

Tirex Resources Ltd. (TSXV: TXX), meanwhile, reported that the mining license application for the Rehova mining property, a past-producing copper mine, in Albania had been approved by the Ministry of Energy and Industry. Tirex Resources stock moved up 36% to $0.095 following the announcement.

Finally, Melior Resources Inc. (TSXV: MLR) shares rose 40% to $0.07 after the junior miner announced that it is looking to prepare for the restart of production at its Goondicum ilmenite mine in Queensland, Australia in response to favorable recent market developments, including stronger demand and higher prices for its ilmenite product.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

DISCLAIMER

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.