Sean Mason | January 12, 2016 | SmallCapPower
A green battery play charged higher on a contract win Tuesday, while a suspension weighed heavily on shares of a gold miner. Here’s some small stocks making big moves on Tuesday, January 12, 2016 (as of 4 pm EST):
Electrovaya Inc. (TSX: EFL) shares jumped 14% to $0.81 on Tuesday after the manufacturer of Lithium Ion Super Polymer batteries, battery systems, and battery-related products for energy storage and clean electric transportation announced that its wholly-owned subsidiary, Litarion GmbH, has received a purchase order for about US$16 million to supply 40 Ah Lithium Ion cells to a U.S. based company.
As well, shares of Eldorado Gold Corporation (TSX: ELD) sank 19% to $3.53 as the gold miner said it is suspending work at a site in Greece and laying off 600 workers following protests by local residents as well as a dispute with the country’s government.
Student Transportation Inc. (TSX: STB), meanwhile, reassured investors Tuesday following a decline in the Company’s stock price, saying its payout ratio has consistently been moving lower over the past three years (down to 71% from 79%), it issued its first equity offering in three years and used the proceeds to reduce debt by $60 million, and 90% of its revenues are now in U.S. dollars. Student Transportation stock moved up 9% to $4.71 following the announcement.
Finally, POET Technologies Inc. (TSXV: PTK) shares gained 6% to $0.91 after the developer of opto-electronics fabrication processes for the semiconductor industry announced that it has signed a multi-year development and production supply agreement with EpiWorks, Inc., a developer and manufacturer of compound semiconductor epitaxial wafers.
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