Small
stocks making big moves on Friday, January 16, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Tanager Energy Inc. (TSXV: TAN)
shares powered 50% higher to $0.06 on Friday after the oil and gas explorer reported
that it has completed the production test on its first well at Joffre in
Alberta at a stabilized rate of 290 BOE/d (235 barrels per day of oil and 325
mcf/d of gas). Tanager is the operator and holds a 50% interest in this project.
As well, shares
of Antibe Therapeutics Inc. (TSXV: ATE)
plunged 87% to $0.055 on volume of more than 9.9 million shares as the drug developer
announced that it has suspended development of its lead drug, ATB-346, due to
safety concerns encountered in its Phase I clinical trial. ATB-346
targets the need for a safer non-steroidal anti-inflammatory drug for chronic
pain and inflammation.
Endeavour Mining Corporation (TSX: EDV),
meanwhile, said it has exceeded its 2014 production guidance of 400,000 to
440,000 gold ounces with full year production of 465,770 ounces, which
represents a 44% increase over the 324,275 ounces produced in 2013. The
company added that it expects to produce 475,000 to 500,000 gold ounces in 2015
at an all-in sustaining cost per ounce of $930 to $980. Endeavour Mining stock
moved up 9% to $0.59 following the announcement.
Finally, Ivernia Inc. (TSX: IVW)
shares sank 29% to $0.025 after the miner reported that it will wind-down the Paroo
Station lead carbonate mine operations in Western Australia to care and
maintenance until further notice in light of weak LME lead prices that have
seen a significant decline in recent weeks.
