Sean Mason | April 12, 2016 | SmallCapPower
An iron ore play caught the eyes of some speculators Tuesday, while uncertainty surrounds an energy junior. Here’s some small stocks making big moves on Tuesday, April 12, 2016 (as of 4 pm EST):
Champion Iron Limited (TSX: CIA) shares powered 26% higher to $0.245 on Tuesday after the iron-ore project developer announced that it has closed its C$30 million private placement financing, as well as its acquisition of the Bloom Lake Mine and related rail assets, in addition to the Quinto Mining Corporation mineral claims in Québec.
As well, shares of Pacific Exploration & Production Corp. (TSX: PRE) slipped 14% to $0.81 as the Latin American-focused oil and gas producer/explorer said it continues to work with its creditors to formulate a comprehensive financial restructuring that will reduce debt, improve liquidity, and best position the Company to navigate the current oil price environment.
BriaCell Therapeutics Corp. (TSXV: BCT), meanwhile, reported that it has filed a provisional patent application with the U.S. Patent and Trademark Office (USPTO) outlining certain features thought to improve clinical efficacy of whole-cell cancer vaccines. BriaCell Therapeutics stock moved up 2% to $0.245 following the announcement.
Finally, Ironhorse Oil & Gas Inc. (TSXV: IOG) shares jumped 44% to $0.115 after the energy junior announced that annual production from Pembina increased over 300% compared to 2014, and it is well positioned financially to withstand the temporary shut-in of the Nisku L2L Pool, with a positive working capital balance of $2.9 million as of December 31, 2015.
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