Sean Mason | March 30, 2016 | SmallCapPower
Quarterly financials powered a payments play Wednesday, while an energy junior slid on sinking revenue. Here’s some small stocks making big moves on Wednesday, March 30, 2016 (as of 4 pm EST):
TIO Networks Corp. (TSXV: TNC) shares climbed 14% to $1.93 on Wednesday after the cloud-based multi-channel bill payment processing and receivables management company announced that it swung to a second-quarter profit of $1.66 million from a net loss of $252,000 during the same period last year, while its revenue increased 7.3% quarter over quarter to $16.4 million.
As well, shares of Cequence Energy Ltd. (TSX: CQE) sank 32% to $0.335 as the oil and gas producer/explorer said its fiscal 2015 production revenue, gross of royalties, fell 41% to $80.9 million.
West African Resources Limited (TSXV: WAF), meanwhile, reported further RC results from the M1 prospect at its 100%-owned Tanlouka Gold Project in Burkina Faso, which included 349.15 g/t gold within 11 metres at 43.44 g/t gold. The Company added that the results “confirms continuity of ultra-high grade gold mineralisation at the M1 South prospect over at least 300 metres.” West African Resources stock popped 21% to $0.115 following the announcement.
Finally, Nikos Explorations Ltd. (TSXV: NIK) shares continued to power higher Wednesday, up 87% to $0.14. On Tuesday, shares of the mineral explorer gained 150% after the Company announced that up to 48 grains of visible gold have been identified in till samples obtained from its Borden Lake Extension property near Chapleau, Ontario.
Disclosure: TIO Networks Corp. is a SmallCapPower client company and has paid a fee for coverage.
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