Resource Penny Stock Powers Higher on Zinc Mine Purchase

Morumbi Resources Inc. (CVE:MOC), a resource penny stock, climbed after announcing the acquisition of the producing El Mochito Zinc Mine in Honduras

Sean Mason | September 23, 2016 | SmallCapPower

More than a few speculators took a shine to a resource penny stock Friday following a zinc mine acquisition. Here’s some small stocks making big moves on Friday, September 23, 2016 (as of 4 pm EST):

Morumbi Resources Inc. (CVE:MOC) shares shot up 29% to $0.09 on Friday after the resource penny stock announced that it has agreed to acquire 100% of Nyrstar’s indirect subsidiary American Pacific Honduras SA de CV and its flagship asset, the producing El Mochito Zinc Mine in Honduras, for a purchase price of US$500,000.

As well, shares of PetroMaroc Corporation plc (CVE:PMA) jumped 78% to $0.08 as the oil and gas company focused on Morocco said it has entered into a binding agreement to sell its 50% operated interest in the Sidi Moktar Licences to Sound Energy plc.

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Ventripoint Diagnostics Ltd. (CVE:VPT), meanwhile, reported that it has received the first order from YuTian Technology for components to manufacture Ventripoint Medical System units in China. Ventripoint Diagnostics stock popped 41% to $0.155 following the announcement.

Finally, iSIGN Media Solutions Inc. (CVE:ISD) shares rose 19% to $0.095 after the provider of interactive mobile advertising solutions confirmed that payment of all monies owed to its auditors has been made.

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

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