Sean Mason | November 6, 2015 |
SmallCapPower
Cash was
king for a resource junior Friday while missed expectations hurt a wireless
play. Here’s some small stocks making big moves on Friday, November 6, 2015 (as
of 4 pm EST):
Sunridge Gold Corp. (TSXV:
SGC) shares powered 41% higher to $0.24 on volume of more than 9 million
shares Friday after the precious metals project developer announced that it has
agreed to sell its 60% interest in the Asmara Mining Share Company to Sichuan
Road & Bridge Mining Investment Development Corp. Ltd. for an upfront
purchase price of US$65 million cash.
As well,
shares of Sierra Wireless, Inc. (TSX:
SW) slid 23% to $25.51 as the wireless solutions provider said its Q3
results revenue was “slightly below our expectations,” as demand for 4G enabled
enterprise notebooks encountered temporary headwinds as the industry
transitions to a new processor platform.
COM DEV International Ltd. (TSX:
CDV), meanwhile, reported that it has agreed to be acquired by Honeywell
International Inc. for a total consideration of about C$455 million. Com Dev
said its investors will receive $5.25 in cash for each share held plus 0.1977
of a share of Exactearth Ltd., a data-services company to be spun out of Com
Dev, for a total value of up to $6.54 a share. COM DEV stock moved up 12% to
$5.99 following the announcement.
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