Sean Mason | January 28, 2016 | SmallCapPower
A potential Montney winner pumped up shares of a small energy explorer Thursday, while financials hurt a tech play. Here’s some small stocks making big moves on Thursday, January 28, 2016 (as of 4 pm EST):
Blackbird Energy Inc. (TSXV: BBI) shares climbed 14% to $0.16 on volume of more than 2.5 million shares Thursday after the oil and gas explorer/developer announced production test results of 1,768 Boe/d from its 2-20-70-7W6 Middle Montney well at Elmworth, which Blackbird claims ranks it in the top tier of well results in the Montney.
As well, shares of Celestica Inc. (TSX: CLS) slid 16% to $11.68 as the provider of end-to-end product lifecycle solutions through its information technology platform said it swung to a fourth-quarter profit of $12.1 million, which fell short of Wall Street expectations.
Panoro Minerals Ltd. (TSXV: PML), meanwhile, reported that it has entered into a nonbinding term sheet for a precious metals purchase agreement with a wholly-owned subsidiary of Silver Wheaton Corp., under which Silver Wheaton will pay Panoro upfront cash payments totalling US$140 million for 25% of the payable gold production and 100% of the payable silver production from Panoro’s Cotabambas Project in Peru. Panoro Minerals stock moved up 45% to $0.145 following the announcement.
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