Sean Mason | November 2, 2015 |
SmallCapPower
An
announcement out of Quebec sparked some buying in the junior gold space, while
another gold stock continued to tarnish. Here’s some small stocks making big
moves on Monday, November 2, 2015 (as of 4 pm EST):
TomaGold Corporation (TSXV:
LOT) shares climbed 20% to $0.06 on Monday after the gold explorer said it
will sell IAMGOLD Corporation a 50% interest in the Monster Lake project in
Quebec in exchange for a $3.22 million cash payment.
As well,
shares of Golden Minerals Company (TSX:
AUM) continued to slip, sinking 25% to $0.265. On Friday the company’s
stock price fell 21% as the resource projects developer said it will be
suspending mining and processing activities at the Velardena mine and sulfide
mill in Mexico during the first half of November 2015, due to continued low
precious metals prices and lower than planned mill feed grades at the sulfide
plant.
International Frontier Resources Corporation (TSXV:
IFR), meanwhile, reported that it has added an experienced technical team
and advisors in the evaluation and joint study of business opportunities in the
Mexican oil and gas sector and, in particular, the first bidding round of the
Onshore Blocks of the “Ronda 1.3” bidding process from the Mexican
government. International Frontier Resources stock moved up 25% to $0.10
following the announcement.
Shares of Ballard Power Systems (TSX:
BLD) gained 9% to $2.12 as the clean energy products provider said it has
signed a definitive agreement with Tangshan Railway Vehicle Company, Limited for
development of a new fuel cell module that will be designed to meet the
requirements of tram or Modern Ground Rail Transit Equipment applications. The
value of this work to Ballard is about $3 million.
Finally, Kraken Sonar Inc. (TSXV:
PNG) shares jumped 35% to $0.195 after the producer of software-centric
Synthetic Aperture Sonar (SAS) sensors and systems announced that its
wholly-owned subsidiary, Kraken Sonar Systems Inc., has received a $1.5 million
contract from a major international defense contractor for a KATFISH sonar
system. The company added that the initial order could exceed $2 million with
the inclusion of spare parts and support.
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