Let’s face it, when stock investors of all stripes are heading for the hills, one has to be alert and opportunistic for positive news on anything. Such was the situation in which small-cap markets found themselves on Wednesday, with quadruple-digit losses in afternoon trading.
Indeed, no sectors seemed to have anything cheery to say, what with the metals and mining index in Toronto caving in 6.5%, while its counterpart south of the border took a pasting of 5.8%. Investors were likely looking wearily toward the 4:00 EDT closing time for relief from all this negativity.
Still, one stock from north of border seeming to buck the trend was Halifax-based Namibia Critical Metals Inc. (TSX:NMI) which has smart drilling at the Lofdal Heavy Rare Earths Project in, yes, Namibia. Contracts have also been executed with process engineering firms in South Africa to initiate metallurgical test work to evaluate mineral sorting technologies.
President Don Burton said "We are extremely pleased be drilling again at Lofdal. The significance of the Area 4 deposit as a potential source of heavy rare earths which include dysprosium and terbium, has been historically overlooked with so much attention on the larger light rare earth projects."
The Lofdal Heavy Rare Earths Project is located 450 kilometers northwest of Namibia’s capital city of Windhoek. The project area covers 314 square kilometers centered on the Lofdal carbonatite complex which hosts a number of rare earth occurrences
Shares cleared breakeven 3.5 cents, or nearly 27% in the final hour of trade to 16.5 cents, on volume of 84,000 shares.
While the news stateside was less spectacular, Santa Clarita, Calif-based BioSolar, Inc. (OTC:BSRC) announced that its technology partner has completed production and initial testing of the second batch of commercial-grade prototype 21700 lithium-ion cells incorporating additional cell design work.
The prototypes will soon be available to potential development partners for their in-house qualification and analysis which will provide critical feedback for the Company as it pursues its battery technology development for electric vehicles.
BSRC stocks scratched and clawed their way into the win column by closing time, up 1.4% to 71-100ths of a cent, on volume surpassing 3.2 million shares.
