New Millennium Iron Corp. (TSE:NML), an iron ore penny stock, climbed after announcing the award of a financial contribution
Sean Mason | July 27, 2016 | SmallCapPower
A government investment strengthened an iron ore penny stock Wednesday, while financial results weighed on a royalty company. Here’s some small stocks making big moves on Wednesday, July 27, 2016 (as of 4 pm EST):
Iron ore penny stock New Millennium Iron Corp. (TSE:NML) shot up 67% to $0.125 on Wednesday after announcing the award of a financial contribution of $175 million by the Québec Government to Tata Steel Minerals Canada, in which New Millennium Iron has a minority interest, in support of Tata Steel’s direct shipping ore project.
As well, shares of Alaris Royalty Corp. (TSE:AD) slipped 13% to $25.64 as the company said its second-quarter earnings fell to $7.0 million from $9.0 million during the same period last year.
Ballard Power Systems (TSE:BLD), meanwhile, reported that its Q2 revenue increased 58% to $17.6 million, while its gross margin for the period rose to 29% from 10% a year earlier. Ballard Power stock moved up 11% to $2.67 following the announcement.
Finally, Gulf Shores Resources Ltd. (CVE:GUL) shares powered 317% higher to $0.50 after the company announced that it will change its name to Ashanti Gold Corp., following a July 13, 2016, Letter of Intent with Goldplat PLC to earn an interest in the Anumso Gold Project in Ghana.
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