Small
stocks making big moves on Wednesday, January 28, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Canacol Energy Ltd. (TSX: CNE)
shares surged 5% to $3.42 on volume of more than 2.4 million shares Wednesday after
the energy producer/explorer with operations in Colombia and Ecuador announced
that Clarinete 1 in Colombia, the first well drilled in its recently acquired
VIM 5 Exploration and Production Contract, has tested at a final gross rate of
20.6 million standard cubic feet per day (3,606 barrels of oil equivalent) of
dry gas with no water in the first of two planned production tests over two
separate reservoir intervals.
As well,
shares of ENTREC Corporation (TSX: ENT)
slipped 5% to $0.37 as the integrated crane solutions provider to the oil and
natural gas, construction, petrochemical, mining and power generation
industries reported that it will be closing its Calgary branch and reducing its
salaried workforce by about 15%, effective immediately. ENTREC cited the
current industry downturn as the reason for its decision.
American CuMo Mining Corporation (TSXV: MLY),
meanwhile, said it and International Energy & Mineral Resources Investment
(Hong Kong) Company Limited (IEMR HK) have agreed to settle IEMR HK’s existing
receivership application and American CuMo’s application for security for costs.
American CuMo Mining stock moved up 7% to $0.08 following the announcement.
Finally, Chaparral Gold Corp. (TSX: CHL)
shares jumped 11% to $0.60 after Waterton Precious Metals Fund II Cayman, LP reported
that it has finalized its arrangement with Goldrock Mines Corp. and will now
complete its previously-announced transaction in which Waterton will acquire
all issued and outstanding Chaparral shares for C$0.61 per share in cash.
