Miners are casting a brighter light on markets Monday, with stronger performances from some of its smaller-cap brethren.
Halifax-based Ucore Rare Metals Inc. (TSX-Venture:UCU) announced it has executed a binding Share Purchase Agreement with privately-held Innovation Metals Corp., whereby Ucore will acquire 100% of the issued and outstanding shares of IMC.
IMC has developed RapidSX™ technology for the separation and purification of critical metals including rare earth elements, lithium, nickel and cobalt. RapidSXTM is an accelerated solvent-extraction-based separation technology, developed and successfully piloted by IMC.
RapidSXTM has proven highly effective at the pilot scale in separating both heavy REE and light REE feedstocks to commercial-grade rare-earth oxides with expected significant technical and economic efficiencies relative to existing technologies.
The materials sector on the TSX proved dull as dishwater Monday, registering just below breakeven, making UCU’s share gain all the more remarkable; it stretched 1.5 cents higher, or 12.5%, to 13.5 cents, on volume of 1.3 million shares.
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