Cobalt Explorer Climbs on Drill Program Update

Cobalt Power Group Inc. (CVE:CPO), a cobalt explorer, moved higher after providing an update on its Smith Cobalt project in Ontario

Sean Mason | March 10, 2017 | SmallCapPower

Soon to be expected drilling from a cobalt junior garnered a bit of attention Friday. Here’s some small stocks making big moves on Friday, March 10, 2017 (as of 4 pm EST):

Cobalt Power Group Inc. (TSXV: CPO) shares jumped 13% to $0.135 on Friday after the cobalt explorer announced that it expects results from its recently-completed Induced Polarization survey shortly and will use the data to help identify and delineate drill targets on its Smith Cobalt project in northern Ontario, which is expected to begin in spring 2017.

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As well, shares of INNOVA Gaming Group Inc. (TSX: IGG) surged 34% to $2.02 as the developer of games and products for the global gaming industry said it has received an unsolicited proposal from Pollard Banknote Limited to acquire all of the outstanding common shares of INNOVA for $2.10 per share in cash.

Enghouse Systems Limited (TSX: ENGH), meanwhile, reported that its first-quarter income from operating activities increased 26% to $22.4 million. Enghouse Systems stock moved up 9% to $60.80 following the announcement.

Finally, Trevali Mining Corporation (TSX: TV) shares rose 10% to $1.30 after the zinc miner announced an 86% surged in its 2016 concentrate sales revenue to a record $198.2 million, along with record EBITDA of $55.4 million, and net income for the period of $12.2 million, or $0.03 per share.

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