Small
stocks making big moves on Wednesday, February 25, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Canarc Resource Corp. (TSX: CCM)
shares climbed 50% to $0.045 on Wednesday after the gold project developer said
it has executed a C$10 million Pre-Development and Earn-In binding
Agreement with PanTerra Gold (British Columbia) Limited for advancing
Canarc’s New Polaris Gold Mine in British Columbia through
feasibility and permitting. Panterra has a 30-month option to earn a 50%
interest in New Polaris by spending a total of C$10 million on three stages of
pre-development activities including metallurgical test work, additional
drilling, environmental permitting and completion of a Definitive Feasibility
Study.
As well,
shares of Ithaca Energy Inc. (TSX: IAE)
sank 33% to $0.88 on volume of more than 3.7 million shares as the North Sea
oil and gas operator announced a nine month delay to its Stella project.
Theralase Technologies Inc. (TSXV: TLT),
meanwhile, reported that it plans to offer for sale a minimum of 9,090,910
units to a maximum of 18,181,819 units of the company’s stock at a price of
$0.44 per unit, for gross proceeds of between $4 million and $8 million. Theralase
Technologies stock dropped 26% to $0.40 following the announcement.
Finally,
North American Palladium Ltd. (TSX: PDL)
shares jumped 14% to $0.415 after the precious metals producer provided an
update on the mineral reserve and resource estimates for its Lac des Iles mine
property in northwestern Ontario. Highlights included a 16% increase in its
underground Measured and Indicated resource of 3.9 million tonnes at a grade of
2.67 g/t palladium, or 413,000 ounces of contained palladium.
