Sean Mason | March 18, 2016 | SmallCapPower
A gold explorer glistered following drill results Friday, while an oil producer eased on an asset sale. Here’s some small stocks making big moves on Friday, March 18, 2016 (as of 4 pm EST):
Oban Mining Corporation (TSX: OBM) shares climbed as much as 12% before ending up 3% at $1.08 on Friday after the precious metals explorer announced new results from the ongoing drill program at its 100% owned Windfall Lake gold project in Québec, which included 11.39 g/t gold over 19.9 metres.
As well, shares of Paramount Resources Ltd. (TSX: POU) slipped 15% to $8.17 as the mid-size oil producer said it has agreed to sell a natural gas processing complex in Alberta’s Montney shale formation to Pembina Pipeline for C$556 million in cash.
Sterling Resources Ltd. (TSXV: SLG), meanwhile, reported that its bondholders voted in favour of its recapitalization and the related waiver. Sterling Resources stock moved up 25% to $0.025 following the announcement.
Finally, Terra Energy Corp. (TSX: TT) shares plunged 83% to $0.005 after the company announced that its lender, Canadian Western Bank, has demanded payment in full of Terra’s outstanding indebtedness totaling approximately $15.9 million plus accrued interest, costs and fees by March 28, 2016 at 9 am.
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