Sean Mason | January 14, 2016 | SmallCapPower
Gold drill results generated some investor interest Thursday, while a wireless play got pounded following financial results. Here’s some small stocks making big moves on Thursday, January 14, 2016 (as of 4 pm EST):
Otis Gold Corp. (TSXV: OOO) shares jumped 33% to $0.10 on Thursday after the precious metals explorer announced the results of its recently completed 2015 fall drill program conducted at the Kilgore Gold Project in Idaho, which included 94.5 metres of 4.21 g/t gold.
As well, shares of DragonWave Inc. (TSX: DWI) sank 27% to $0.095 as the wireless networking equipment supplier said its third-quarter revenue fell to US$21.0 million from $47.3 million, while its net loss widened to US$6.2 million from $3.8 million during the same period last year.
Painted Pony Petroleum Ltd. (TSX: PPY), meanwhile, reported that it is actively drilling three wells and plans to drill a total of 29 (net) wells in 2016, driving daily production volumes to over 240 Mmcfe/d (40,000 boe/d) by year end. Painted Pony stock moved up 16% to $3.28 following the announcement.
Finally, Imvescor Restaurant Group Inc. (TSX: IRG) shares gained 10% to $2.30 after the restaurants franchisor announced that it swung to a Q4 profit of $3.5 million, from a year-earlier loss of $0.8 million, and said it would be increasing its quarterly cash dividend by 12.5%.
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