Energy Junior Soars on Proposal Approval

Sean Mason | March 11, 2016 | SmallCapPower

A government go ahead was good news for an oil & gas producer Friday, while a WiFi play connected with more than a few investors. Here’s some small stocks making big moves on Friday, March 11, 2016 (as of 4 pm EST):

NKO logoNiko Resources Ltd. (TSX: NKO) shares powered 93% higher to $0.28 on Friday after the oil and gas producer/explorer announced that the Government of India has approved a proposal to grant certain marketing freedom to producers, including pricing freedom for the gas produced from discoveries in high pressure high temperature, deepwater and ultra deepwater areas in India.

As well, shares of Edgewater Wireless Systems Inc. (TSXV: YFI) climbed 15% to $0.265 as the manufacturer of multi-channel WiFi3 technology for high-density WiFi applications said it has received certification of its multi-channel WiFi3 technology in India.

Eguana Technologies Inc. (TSXV: EGT), meanwhile, reported that it has entered into a development contract with the battery manufacturing subsidiary of a leading German automotive manufacturer. Eguana Technologies stock moved up 32% to $0.145 following the announcement.

Eguana Technologies is a component company of the benchmark-beating Ubika Sustainability 20 index (See the other top-performing stocks here).

Finally, Uragold (TSXV: UBR) shares jumped 21% to $0.175 after the resource project developer announced that it plans to spin out its gold assets into a separate publicly traded company, which will be distributed to Uragold shareholders in the form of a special dividend.

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