4:05pm: South Star Battery Metals, Li-FT Power see its gains accelerate late day
Camino closed up 100% to $0.05, while Converge Technology Solutions gained 23% to $4.89, South Star Battery Metals finished 23% higher to $0.65, and Li-FT Power ended up 19% at $12.50.
12:05pm: Camino, Converge Technology Solutions make big gains
Camino Corp (TSXV:COR) shares shot up 140% to $0.06, on volume of more than 8.7 million shares, Wednesday after the discovery and development stage copper exploration company announced high solubility results over significant copper oxide intercepts in the new Lourdes Zone at its Los Chapitos property in Peru, as near-surface copper oxide minerals in drill holes DCH-97 and DCH-80 had acid solubilities of 83% and 79%, and total solubilities of 92% and 87%, respectively.
Camino noted the solubility results confirm continuity of oxide mineralization to a depth of at least 100 metres in the new zone.
As well, shares of Converge Technology Solutions Corp (TSX:CTS) jumped 22% to $4.89 as the IT & Cloud Solutions provider said its board of directors has formed a special committee of independent directors to undertake, in consultation with its established financial and legal advisors, a review and evaluation of strategic alternatives that may be available to the company to unlock shareholder value.
South Star Battery Metals Corp (TSXV:STS), meanwhile, reported it has closed the Phase 1 deposit transaction under its previously-announced metals purchase and sale agreement with Sprott Private Resource Streaming and Royalty Corp.
With the closing of the recent private placements and receipt of the Phase 1 Deposit to fund capex under the agreement, the Canadian battery metals project developer said it believes it is fully funded for construction of the Phase 1 plant and mine at its Santa Cruz Graphite mine in Bahia, Brazil. South Star Battery stock moved up 8% to $0.57 following the announcement.
And, Li-FT Power Ltd (CSE:LIFT) shares climbed 15% to $12.03 on Wednesday after the junior explorer announced that it has agreed to acquire the Yellowknife Lithium Project through the acquisition of a private company in an all-stock transaction in which Li-FT will issue 18 million company shares, at a deemed price of $8.59 per share.
Li-FT Power noted that the private company had C$11.7 million in cash and equivalents as of October 31, 2022.
Contact Sean at sean@proactiveinvestors.com