Small
stocks making big moves on Tuesday, May 5, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Lithium Americas Corp. (TSX:
LAC) shares powered 35% higher to $0.405 on Tuesday after the lithium
project developer announced that it is now in discussions with Korean steel
giant POSCO regarding the proposed commercialization of the company’s
Cauchari-Olaroz lithium project in Argentina. POSCO and LAC contemplate
that the proposed commercial plant will be capable of producing up to 20,000
tonnes per annum of lithium carbonate equivalent in an initial Phase 1 with
plant construction scheduled to begin in late 2015.
As well, shares
of Pediapharm Inc. (TSXV:
PDP) sank 23% to $0.315 on volume of more than 2.4 million shares as the specialty
pharmaceutical company said it has received a Notice of Deficiency –
Withdrawal Letter from Health Canada regarding its New Drug Submission for
Easyhaler Budesonide. The company, however, added that its file is eligible for
the reconsideration process, which is part of normal regulatory actions
available to sponsors.
Slyce Inc. (TSXV:
SLC), meanwhile, reported a finalized contract with Toys”R”Us to
power visual search for mobile commerce. Slyce, which provides a visual product
search platform, added that it will derive revenues from the contract through
monthly recurring software licensing and service fees, in line with its current
pricing model, over the term of the contract. Its stock moved up 6% to $0.50
following the announcement.
