A plant
and private placement announcement boosted a small gold miner Monday while warrant
news weighed on a biopharma stock. Here’s some small stocks making big moves on
Monday, September 21, 2015 (as of 4 pm EST):
Timmins Gold Corp. (TSX:
TMM) shares powered 26% higher to $0.34 on volume of more than 8.6 million
shares Monday after the gold miner announced that it has entered into an
agreement with a Mexican subsidiary of Goldcorp Inc. to acquire, in a
cash-and-stock transaction, the complete process plant and select auxiliary
equipment used in the operation of Goldcorp’s El Sauzal Mine in Chihuahua,
Mexico. Timmins Gold estimates it will save US$40 million to $60 million in
initial capital expenditures when it constructs its Ana Paula mine. Goldcorp
will also make an additional investment in Timmins Gold through a private placement
at $0.30 a share, the result of which being that Goldcorp will own about 9.9%
of Timmins Gold’s issued and outstanding common shares on an undiluted basis.
Timmins Gold is a component company of the
Ubika 20 index. See the other top-performing gold juniors here
>>
As well,
shares of Aeterna Zentaris Inc. (TSX:
AEZ) slid 31% to $0.11 as the specialty biopharmaceutical company said it
has entered into definitive agreements with the holders of approximately 90% of
its outstanding Series B Common Share Purchase Warrants that are intended to
reduce the dilutive effect of the exercise of the Series B Warrants by
establishing a cap on the number of shares issuable upon alternate net cashless
exercise of the Series B Warrants until the close of business on November 17,
2015 and by limiting the number of shares that the Consenting Holders may sell
until the close of business on October 9, 2015. Aeterna Zentaris added that it
expects this move will temporarily reduce the selling pressure on its stock.
Moseda Technologies Inc. (TSXV:
MSD), meanwhile, reported the closing of the oversubscribed non brokered
private placement of 8 million units of Moseda at a price of $0.15 per
unit for gross proceeds of $1.2 million. Moseda Technologies stock moved
up 19% to $0.31 following the announcement.
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