Sean Mason | March 14, 2016 | SmallCapPower
Big-money backers boosted a potash play Monday, while financials weighed on shares of a life sciences company. Here’s some small stocks making big moves on Monday, March 14, 2016 (as of 4 pm EST):
Karnalyte Resources Inc. (TSX: KRN) shares surged 42% to $1.25 on Monday after the potash/magnesium project developer announced that India’s Gujarat State Fertilizers and Chemicals Ltd has agreed to finance the first phase of Karnalyte’s Canadian potash mine for $700 million.
As well, shares of DiagnoCure, Inc. (TSX: CUR) sank 53% to $0.07 as the life sciences company said its interim Chief Financial Officer has resigned. The Company also recorded a decrease in its first-quarter revenue as well as an increase in operating expenses for the period.
Niko Resources Ltd. (TSX: NKO), meanwhile, reported that it has executed a support agreement with its institutional lenders as well as its noteholders, which would allow Niko to maintain its core assets for an expected minimum period of two years until value of these assets can potentially be enhanced for the benefit of the Company’s stakeholders. Niko stock popped 54% to $0.43 following the announcement.
Finally, Orefinders Resources Inc. (TSXV: ORX) shares climbed 80% to $0.045 after the gold junior announced that it has exercised its option and acquired the MZ group of claims in northern Ontario, which include 10 claims that form the westerly extension of the Mirado mineralized zone.
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