IBC Advanced Alloys Corp. (CVE:IB), a specialty metals stock, climbed after announcing that it has been awarded a production contract from Raytheon Space and Airborne Systems
Sean Mason | May 30, 2017 | SmallCapPower
A production contract from Raytheon powered up a specialty metals stock Tuesday. Here’s some small stocks making big moves on Tuesday, May 30, 2017 (as of 4 pm EST):
IBC Advanced Alloys Corp. (TSXV: IB), a specialty metals stock, jumped 7% to $0.44 on Tuesday after announcing that it has been awarded a production contract from Raytheon Space and Airborne Systems to produce a beryllium-aluminum cast component for use in Raytheon’s Advanced Targeting Forward Looking Infrared (ATFLIR) system, currently in use on U.S. Navy F/A-18 fighter jets.
As well, shares of Nikos Explorations Ltd. (TSXV: NIK) sank 46% to $0.06 as the gold explorer released results of its recently-completed diamond drill program at the Borden Lake Extension Project near Chapleau, Ontario, in which the Company said “no significant gold mineralization was encountered.”
Tornado Global Hydrovacs Ltd. (TSXV: TGH), meanwhile, reported first-quarter revenues from continuing operations that increased 77% from the same period last year. Tornado Global Hydrovacs stock popped 37% to $0.13 following the announcement.
In addition, shares of Arizona Silver Exploration Inc. (TSXV: AZS) plunged 79% to $0.255 as the explorer released the first drill results of the 2017 exploration drilling campaign at the Ramsey Silver Project in Arizona, intersecting only weak silver mineralization in the interval 232 metres to the end of the hole at 290 metres, containing between 0.5-3 grams per tonne silver throughout the interval, with the rest of the hole containing no silver.
Finally, Spectral Medical Inc. (TSX: EDT) shares climbed 13% to $0.54 as the Phase III company developing the first treatment for patients with septic shock guided by a companion diagnostic announced that it has submitted the fourth and final module of its PMA application to the United States Food and Drug Administration based on further analysis of the EUPHRATES trial – a randomized, blinded trial of patients in endotoxemic septic shock comparing use of Toraymyxin versus sham hemoperfusion.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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