Sean Mason | November 9, 2015 |
SmallCapPower
Grade was
king for a small diamond play Monday while news from a gaming stock didn’t play
well with a few investors. Here’s some small stocks making big moves on Monday,
November 9, 2015 (as of 4 pm EST):
Shore Gold Inc. (TSX: SGF) shares surged 18% to $0.20 on volume of more than
1.4 million shares Monday after the diamond explorer announced an updated
resource estimate for the Star-Orion South Diamond Project in Saskatchewan,
which showed that the Indicated Mineral Resource increased 38% to 28.2 million
carats and the grade rose 11% to 15 cpht.
As well,
shares of Contagious Gaming Inc. (TSXV:
CNS) slipped 4% to $0.125 as the provider of software solutions for
regulated gaming and lottery operators around the world said it has decided not
to make an offer for Sportech PLC.
Tethys Petroleum Limited (TSX:
TPL), meanwhile, reported that it has entered into a non-binding letter of
intent with Olisol Investments Limited, in which its wholly-owned subsidiary,
Olisol Petroleum, will provide Tethys with a US$15 million interim debt
facility, subscribe to a C$25.5 million private placement of 150 million new
ordinary shares at a price of C$0.17 per ordinary share and commit to backstop
a further equity fundraising of 50 million shares at C$0.17 per share. Tethys
Petroleum stock moved up 67% to $0.10 following the announcement.
Finally, Africa Oil Corp. (TSX:
AOI) shares powered 24% higher to $2.11 after the oil and gas explorer/developer
announced that it has entered into a definitive farmout agreement with Maersk
Oil & Gas A/S, whereby Maersk will acquire 50% of Africa Oil’s interests in
Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in
Ethiopia in consideration for US$350 million.
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