Benzinga's Microcap Movers for Wednesday June 20, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Liquidmetal Technologies (LQMT), the Rancho Santa Margarita, CA developer of patented alloys, fell 12.71% Wednesday on lower than average volume.
On June 15, 2012, Liquidmetal Technologies and Apple (NASDAQ: AAPL) entered into an amendment to the Master Transaction Agreement that they previously entered into on August 5, 2010. Under the MTA, the Company was originally obligated to contribute to Crucible Intellectual Property, LLC, a special purpose subsidiary of the Company, all intellectual property acquired or developed by the Company through February 5, 2012, and all intellectual property held by Crucible Intellectual Property, LLC is exclusively licensed on a perpetual basis to Apple for the field of use of consumer electronic products under the MTA. Under the Amendment, the parties agreed to amend the MTA to extend the February 5, 2012 date to February 5, 2014.
Liquidmetal Technologies closed at $0.32 on Wednesday.
Pershing Gold Corporation
Shares of Pershing Gold Corporation (PGLC), the Lakewood, CO gold exploration and development company, rose 2.21% Wednesday on average volume.
Pershing Gold Corporation announced that Coeur d'Alene Mines Corporation (NYSE: CDE), has purchased 10,937,500 shares of Pershing Gold Corporation Common Stock in a private placement priced at $0.32 per share. Dr. Phillip Frost, an existing shareholder of Pershing Gold, joined Coeur in this private placement through Frost Gamma Investment Trust, purchasing 1,562,500 shares of Pershing Common Stock under substantially the same terms and conditions as Coeur. Coeur and FGIT will have the right to participate in future financings to maintain their respective ownership interests. Gross proceeds of the private placement totaled $4.0 million.
Pershing Gold Corporation closed at $0.37 on Wednesday.
China Shen Zhou Mining
Shares of China Shen Zhou Mining (NYSE: SHZ), the China-based mining company, rose 20.27% Wednesday on slightly more than average volume.
A report on China's Rare Earth Industry from the Information Office of the State Council, indicated China's rare earth reserves are declining due to excessive exploitation and illegal mining.
China Shen Zhou Mining closed at $0.83 on Wednesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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