Small
stocks making big moves on Thursday, April 23, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Sunward Resources Ltd. (TSX:
SWD) shares powered 68% higher to $0.16 on Thursday after the gold project
developer said it has agreed to be acquired by NovaCopper Inc. (TSX:
NCQ). Sunward shareholders will receive 0.3 of a NovaCopper common share for
each Sunward common share held.
As well,
shares of Formation Metals Inc. (TSX:
FCO) climbed 9% to $0.18 as the resource junior revealed Preliminary
Economic Assessment (PEA) results for its Idaho Cobalt Project, which estimated
an after tax NPV of $113.45 million, using an 8.5% discount rate, and an IRR of
24.07%.
StonePoint Energy Inc. (TSXV:
STO), meanwhile, provided an operations update, saying that with a
successful Dunvegan well the company will be in a favourable cash flow position
in later 2015 with sufficient funds to pursue further drilling opportunities. It
also noted that it has evaluated a number of potential acquisitions both
corporate and asset-based. StonePoint Energy stock moved up 18% to $0.065 following
the announcement.
Finally, Parkit Enterprise Inc. (TSXV:
PKT) rose 11% to $0.60 as the manager of income-producing parking facilities
across the United States reported the formation of a joint venture investment
vehicle that will seek to acquire and aggregate up to approximately $500
million in income-producing parking assets.
