Silver Mining Stock Surges on Big-Name Investment

Sean Mason | April 8, 2016 | SmallCapPower

A Mexican miner kept trending higher Friday following an investment from a well-known resource name. Here’s some small stocks making big moves on Friday, April 8, 2016 (as of 4 pm EST):

EXN logoExcellon Resources Inc. (TSX: EXN) shares continued to move higher Friday, up 9% to $0.85. On Tuesday, the silver miner with operations in Mexico announced the closing of its previously announced C$3 million private placement with Eric Sprott at a price of $0.45 per unit. Since announcing Eric Sprott’s investment on March 31, 2106, Excellon’s stock price has surged 39%.

As well, shares of Integra Gold Corp. (TSXV: ICG) slipped 2% to $0.54 as the gold explorer said it has agreed to make a $6 million strategic investment in Eastmain Resources Inc. by way of a non-brokered private placement. Following the transaction, Integra will hold approximately 9.9% of Eastmain’s issued and outstanding common shares on an undiluted basis.

CHAR Technologies Ltd.’s (TSXV: YES), formerly Cleantech Capital Inc., stock began trading Friday following the closing of its qualifying transaction. CHAR is in the business of producing an activated charcoal like material (SulfaCHAR), which can be used to remove hydrogen sulfide from various gas streams.

In addition, shares of NuLegacy Gold Corporation (TSXV: NUG) gained 63% during the past two days after OceanaGold Corporation (TSX: OGC) said it would purchase, by way of private placement, 47,663,228 common shares of NuLegacy, at a price of C$0.14 per share. Upon the transaction’s close, OceanaGold will own approximately 19.9% of NuLegacy’s issued and outstanding shares on an undiluted basis.

Finally, Salazar Resources Ltd. (TSXV: SRL) shares continued to gain ground Friday, up 25% to $0.10, two days after the resource explorer/developer announced a recapitalization plan for the Company that will include a private placement, royalty sale and debt conversion.

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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