An oil-focused
player purchased some additional production Tuesday while an EIA announcement tarnished
a gold junior. Here’s some small stocks making big moves on Tuesday, September 15,
2015 (as of 4 pm EST):
Cardinal Energy Ltd. (TSX:
CJ) shares rose 6% to $9.10 on Tuesday after the oil-focused energy
producer announced that it has made a $129 million light oil acquisition in
the Mitsue area of Alberta, which the company claims will add average
production of 3,300 boe/d (78% light crude oil and NGL’s), and estimated 2016
cash flow of $26 million in 2016, presuming a US$50 WTI price.
As well,
shares of Continental Gold Inc. (TSX:
CNL) slid 20% to $2.03 as the gold project developer said it missed the completion guidance for the Environmental
Impact Assessment (EIA) permitting for its Buriticá project in Colombia,
and requested that the National Government of Colombia assume the
responsibility of reviewing the EIA as a Project of National Strategic Interest.
Sanatana Resources Inc. (TSXV:
STA), meanwhile, released its maiden Mineral Resource estimate for the
Watershed Property in northern Ontario, which showed an Inferred Resource of
4.3 million tonnes grading 1.22 grams per tonne gold for 168,700 contained
ounces. Sanatana moved up 25% to $0.025 following the announcement.
Finally, Dalradian Resources Inc. (TSX:
DNA) shares slipped 9% to $0.75 after the gold junior said it expects to
raise C$35 million in a bought-deal equity financing at a purchase price of
C$0.80 per unit.
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