Resource Junior Surges On Nickel, Cobalt Project Update

ca.investing.com/analysis/resource-junior-surges-on-nickel-cobalt-project-update-200196592

By Sean Mason, SmallCapPower.com | Jan 16, 2018 01:15

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RNC Minerals (TSX:RNX), a resource junior, jumped after announcing that it is advancing its Dumont Nickel-Cobalt Project to a construction decision

A pending nickel-cobalt construction decision prompted buying of the shares of a resource junior Monday. Here’s some small stocks making big moves on Monday, January 15, 2018 (as of 4 pm EST):

RNC Minerals shares powered 47% higher to $0.25 on Monday after the resource junior announced that it expects to undertake a series of initiatives during 2018 to position the Company to make a decision to begin construction of the Dumont Nickel-Cobalt Project in 2019. The Dumont project, located in Quebec, has proven and probable reserves consisting of 1.18 billion tonnes of ore containing 3.15 million tonnes of nickel (6.9 billion pounds) and 126,000 tonnes (278 million pounds) of cobalt.

As well, shares of RHC Capital Corp (V:RHC) plunged 71% to $0.04 as the helium explorer said it has suspended operations near Bengough, Saskatchewan, as initial results from the recompletion operations in both prospective zones have not returned sufficient quantities of gas to date to warrant production testing.

Cannabis Wheaton Income Corp (V:CBW), meanwhile, reported that it has launched KoLab Project Inc., which will offer an exclusive monthly subscription platform to authorized medical cannabis patients. Cannabis Wheaton Income stock popped 19% to $2.42 following the announcement.

Finally, Anaconda Mining Inc. (TO:ANX) shares gained 9% to $0.125 after the gold explorer announced initial assay results for the recently-announced diamond drill program near the Argyle deposit in Newfoundland, which included 12.47 grams per tonne (g/t) gold over 5.0 metres.

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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Resource Junior Surges On Nickel, Cobalt Project Update

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