Aviation Components Stock Flies Higher on Contract Award

Avcorp Industries Inc. (TSE:AVP), an aviation components stock, took flight after winning a long-term production contract

Sean Mason | November 11, 2016 | SmallCapPower

An aviation components stock took flight Friday following a long-term contract. Here’s some small stocks making big moves on Friday, November 11, 2016 (as of 4 pm EST):

Aviation components stock Avcorp Industries Inc. (TSE:AVP) climbed 8% to $0.07 on Friday after announcing that it has been awarded a long-term production contract with the Aerospace Company of Fuji Heavy Industries Ltd. Avcorp said that as a result of the contract award its order backlog is currently estimated at $901 million.

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As well, shares of Athabasca Oil Corporation (TSE:ATH) slipped 10% to $1.23 as the Canadian energy company said Q3 production averaged 11,848 boe/d, an increase of 63% year-over-year. The Company added that the Alberta Wildfire, unplanned maintenance downtime year to date and planned pump changes in Q4 at its Thermal Oil division has impacted production volumes, with annual guidance estimated at approximately 7,300 bbl/d.

Garibaldi Resources (CVE:GGI) stock, meanwhile, continued to move higher, up 28% to $0.115 after the Company reported that recent trenching at the E&L deposit in British Columbia’s Golden Triangle has returned “strong nickel and copper grades in addition to important platinum, palladium, gold and cobalt values in a pyrrhotite-pentlandite-chalcopyrite assemblage.”

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