A
potential company transformational event caught the attention of more than a few
speculators Monday. Here’s some small stocks making big moves on Monday, August
24, 2015 (as of 4 pm EST):
Scandium International Mining Corp. (TSX:
SCY) shares powered 31% higher to $0.105 on Monday after the scandium project developer
announced equity financing totaling $2.16 million, which will trigger the
conversion of all existing debt into a 20% Joint Venture interest in its Australian
scandium projects, making the company debt-free. In addition, these funds will
allow it to proceed immediately with a definitive feasibility study (DFS)
and further supplemental property resource drilling and environmental work for
the purpose of reaching a final investment decision on the Nyngan Scandium
project in early 2016.
As well,
shares of Spectra7 Microsystems Inc. (TSX: SEV) slid 13% to $0.35 as the provider of
microchips to the wearable computing industry said
its first-quarter revenue jumped 48% to$1.0 million. The company,
though, added that its gross margins decreased during the quarter mainly due to
the lower proportion of wireless revenue, which is close to 100% gross margin,
and higher initial production costs for VR products.
POET Technologies Inc. (TSXV:
PTK), meanwhile, reported that it had entered into a VCSEL Manufacturing
Services Agreement with ANADIGICS, Inc. for VCSEL process transfer and
manufacturing, which POET claims will accelerate the transition from lab-to-fab
and enables successful prototype demonstrations in a mature and capable
manufacturing environment. POET Technologies stock eased 14% to $0.64 following
the announcement.
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