Acceleware Ltd. (CVE:AXE), an energy tech penny stock, skyrocketed after announcing a collaboration with General Electric (NYSE:GE)
Sean Mason | June 14, 2016 | SmallCapPower
A deal with a U.S. corporate giant generated much speculator interest in an energy tech penny stock Tuesday. Here’s some small stocks making big moves on Tuesday, June 14, 2016 (as of 4 pm EST):
Energy tech penny stock Acceleware Ltd. (CVE:AXE) skyrocketed 767% to $0.26 after the software provider to the oil and gas industry announced that it will partner with GE to develop critical power components and complete a pilot test its patent-pending “RF XL” heating technology, which uses radio waves instead of steam in SAGD oilsands production. The Company believes the technology has the potential to deliver operating cost savings of up to 50%.
As well, shares of Endeavour Mining (TSE:EDV) slipped 8% to $20.02 as the gold miner said it has entered into an agreement for a $125 million bought deal financing at a price of $20.00 per common share.
Voltaic Minerals Corp. (CVE:VLT), meanwhile, reported that it has begun the first phase of its 2016 work program on the Green Energy lithium brine property in Utah. Voltaic Minerals stock moved up 26% to $0.46 following the announcement.
In addition, shares of Electrovaya Inc. (TSE:EFL) powered 16% higher to $1.95 as the manufacturer of Lithium Ion Super Polymer batteries, battery systems, and battery-related products said its wholly-owned subsidiary, Litarion GmbH, has signed a Memorandum of Understanding with a European battery OEM. Electrovaya will provide its cells to the OEM, which will then be assembled into electric bus batteries.
Finally, East Africa Metals Inc. (CVE:EAM) shares jumped 7% to $0.15 after the resource project developer announced an updated independent mineral resource estimate for the Adyabo Project in Ethiopia. Highlights included an increase in the Indicated gold grade to 3.92 grams per tonne.
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