4:05pm: Power Nickel shares add to gains late day
Valeura Energy closed up 14% at $2.78, while Vecima Networks (TSX:VCM) rose 4% to $21.89, Power Nickel finished 15% higher to $0.265, and Fathom Nickel (CSE:FNI) ended up 6% at $0.095.
2:15pm: Valeura Energy, Fathom Nickel (CSE:FNI) shares advance sharply
VALEURA ENERGY INC (TSX:VLE, AIM:VLU) shares jumped 17% to $2.83 on Wednesday after the oil and gas producer/explorer announced the completion of its transformative Gulf of Thailand acquisition, as the company now owns a 100% operated interest in Licence B5/27 containing the Jasmine and Ban Yen oil fields, a 90% operated working interest in Licence G11/48 containing the Nong Yao oil field, and a 70% operated working interest in Licence G1/48 containing the Manora oil field.
As well, shares of Vecima Networks (TSX:VCM) Inc gained 8% to $22.74 as the company said Charter Communications, Inc has selected Vecima’s Entra Distributed Access Architecture (DAA) solution with ERM3 Remote PHY Devices to support its fixed broadband network evolution to 10G.
Vecima noted the ERM3 is expected to be used for a substantial portion of Charter’s network and to support a growth plan driven by network evolution, expansion, and execution.
Power Nickel Inc (TSX-V:PNPN), meanwhile, reported that it has received commitments to over-subscribe its previously announced private placement of up to 10 million flow-through (FT) units at a price of $0.50 each for total gross proceeds of up to C$5 million. Power Nickel stock moved up 9% to $0.25 following the announcement.
And, Fathom Nickel (CSE:FNI) shares rose 11% to $0.10 on Wednesday after the exploration company announced that it has strategically acquired the Watts Lake mineral claims in Saskatchewan following an agreement with SKRR Exploration Inc in a cash and share deal.
READ: Fathom Nickel acquires Watts Lake mineral claims, enlarging its Gochager Lake land parcel by over three fold
Contact Sean at sean@proactiveinvestors.com