A mill
suspension weighed heavily on a small gold miner Monday while a legal
settlement lifted a pharma stock. Here’s some small stocks making big moves on Monday,
October 5, 2015 (as of 4 pm EST):
Rubicon Minerals Corporation (TSX: RMX) shares sank 33% to $0.67 on volume of more than
14.6 million shares Monday after the emerging gold producer said it has been
ordered by the Ministry of Environment and Climate Change on September 30, 2015,
to temporarily suspend mill operations at the Phoenix Gold Project to treat
elevated ammonia levels, discharge sufficient water from the tailings
management facility (TMF), and to upgrade the TMF, under specific timelines.
As well,
shares of Cipher Pharmaceuticals Inc.
(TSX:
CPH) climbed 14% to $5.92 as the specialty pharmaceutical dermatology
company announced that the Company, along with its partners, Ranbaxy
Pharmaceuticals, Inc., a Sun Pharma Company, and Galephar Pharmaceutical
Research, Inc., have entered into a Settlement Agreement with Actavis
Laboratories F1, Inc., Andrx Corp., Actavis, Inc. and Actavis Pharma, Inc. that
dismisses the patent litigation suit relating to Actavis’ Abbreviated New Drug
Application (ANDA) for a generic version of Absorica® (isotretinoin
capsules).
SouthGobi Resources Ltd. (TSX: SGQ), meanwhile, confirmed that it has received an
extension from the Toronto Stock Exchange, which will push its delisting review
back until October 28, 2015, as the Company has a number of current
financing initiatives that it is currently pursuing. SouthGobi stock dropped
18% to $0.255.
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