A multi-million dollar contract powered a Canadian tech stock sharply higher Tuesday. Here’s some small stocks making big moves on Tuesday, April 21, 2020 (as of 4 pm EST):
Lite Access Technologies Inc. (TSXV:LTE), a Canadian tech stock, climbed 25% to $0.40 on Tuesday after announcing that UK’s CityFibre has awarded the Company a contract for fibre-to-the premises (FTTP) installation to more than 20,000 homes in Cambridge, England. The contract is valued at approximately C$20 million over 21 months.
As well, shares of Linamar Corporation (TSX:LNR) slipped 9% to $29.76 as the auto parts supplier said it is withdrawing its 2020 financial outlook until market conditions become clearer for the global automotive industry.
African Gold Group, Inc. (TSXV:AGG), meanwhile, reported the final drill results from the diamond drilling program at its Kobada gold project in Mali, which included 5.25 grams per tonne (g/t) gold over 22.20 metres. African Gold Group stock moved up 4% to $0.25 following the announcement.
Finally, Falcon Gold Corp. (TSXV:FG) shares rose 20% to $0.06 after the junior explorer announced the completion of drill hole CC-20-01 at the Central Canada Project in northwestern Ontario, which intersected three sulphide-telluride mineralized zones to a depth of 148 metres.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Lite Access Technologies Inc. (TSXV:LTE), a Canadian tech stock, climbed 25% to $0.40 on Tuesday after announcing that UK’s CityFibre has awarded the Company a contract for fibre-to-the premises (FTTP) installation to more than 20,000 homes in Cambridge, England. The contract is valued at approximately C$20 million over 21 months.
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