Monday’s news that Noront Resources is buying Cliffs’ claims at the Ring of Fire has been good news for shareholders.

Noront shares soared 40% on the news and was up again yesterday.

The stock started the week at 36 cents and is now worth 59 cents.

And now Noront wants to talk with KWG Resources which also has claims at the chromite site.

The talks centre on how the companies can develop the various claims with nearby First Nations as partners.

KWG is also a penny stock and investors welcomed this latest news by buying seven million shares over the past two days.

Over those two days the share price of the stock has risen half a penny to three cents.