Junior Miner Surges on Settlement Agreement

Imperial Metals Corporation (TSX:III), a junior miner, after announcing a settlement for damages from the Mount Polley mine perimeter embankment failure

Sean Mason | November 27, 2018 | SmallCapPower

A multi-million dollar settlement prompted a few junior miner shareholders to cash in Tuesday. Here’s some small stocks making big moves on Tuesday, November 27, 2018 (as of 4 pm EST):

Imperial Metals Corporation (TSX:III) shares powered 19% higher to $1.38 on Tuesday after the junior miner announced that it has reach a settlement agreement resulting in net payments to the Company totaling approximately C$108 million for damages arising out of the August 4, 2014 failure of the perimeter embankment at the Mount Polley mine.

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As well, shares of Intellipharmaceutics International Inc. (TSX:IPCI) slid 36% to $0.48 as the pharmaceutical company said it has submitted an investigational new drug application to the U.S. Food and Drug Administration (FDA) for its oxycodone hydrochloride immediate release.

EnerDynamic Hybrid Technologies Corp. (TSXV:EHT), meanwhile, reported that the first 200-acre site to build the first 10,000 houses in Ghana, West Africa has been selected. EnerDynamic Hybrid stock moved up 10% to $0.055 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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