Small
stocks making big moves on Monday, April 6, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Ikkuma Resources Corp. (TSXV:
IKM) shares jumped 16% to $0.64 on volume of more than 1.4 million shares on Monday after the oil and gas producer/explorer
announced that its most recently recompleted well in its 2014 – 2015
capital program flowed at a stable rate of 14.5 mmcf/d with 36 bbl/d of light
oil (2,452 boe/d) (100%WI, 50% after 400% penalty payout) at minimal 16% draw
down during the first 22 hours of production testing. Ikkuma is formerly known
as PanTerra Resource.
As well,
shares of Connacher Oil and Gas Limited
(TSX:
CLL) slid 17% to $0.025 as the in-situ oil sands producer/developer said
that on April 2, 2015, the Court of Queen’s Bench of Alberta dismissed the company’s
application for a final order to implement the Recapitalization, as approved by
the shareholders and noteholders of the company. As a result, Connacher is
assessing its alternatives and will continue its process to devise and
implement a strategy to address its liquidity and capital structure, which
could “result in the sale of all or a portion of its assets.”
Midway Gold Corp.’s (TSX:
MDW) stock price, meanwhile, continued to move higher Monday, up 12% to
$0.57. On Friday, Midway Gold shares surged 19% after the company reported that
a second gold pour at the Pan Gold Mine in Nevada was achieved on March 30,
2015.
