Small
stocks making big moves on Tuesday, January 13, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Canacol Energy Ltd. (TSX: CNE)
shares powered 7% higher to $2.42 on Tuesday after the oil and gas exploration
and production company with operations in Colombia and Ecuador announced that
it has completed the drilling and testing of the Maltes 1 exploration well
located approximately 1.5 kilometers to the north of the Labrador oil field in
Colombia. The well tested a gross rate of 1,555 barrels of oil per day of 32°
API light oil (1,400 bopd net) from the C7 sandstone reservoir with a water cut
of less than 1%. Maltes 1 represents the fifth oil discovery the company has
made on the LLA 23 contract over the past two years.
As well,
shares of Capstone Mining Corp. (TSX: CS) slid
17% to $1.60 on volume of more than 2.9 million shares as the base metals miner
reported that throughput at Pinto Valley copper mine in Arizona was 4% lower
than planned for the fourth quarter and the grade was slightly lower than expected.
Chorus Aviation Inc. (TSX: CHR.B),
meanwhile, said its wholly-owned subsidiary Jazz Aviation LP and Air
Canada have reached an agreement on an amended and extended capacity purchase
agreement, which provides for significant cost reductions for both parties,
strengthens the relationship and better aligns their interests over the long
term. Chorus Aviation stock moved up 13% to $4.89 following the
announcement.
Finally,
Sirius XM Canada Holdings Inc. (TSX: XSR)
shares climbed 11% to $6.05 after the satellite
radio operator reported a 67% surge in net income, 6.7% jump in free cash flow,
and a 3.3% increase in revenue for its first quarter of fiscal 2015.
