Small
stocks making big moves on Tuesday, April 28, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Coastal Gold Corp. (TSXV:
COD) shares powered 100% higher to $0.04 on volume of more than 4 million
shares Tuesday after the gold junior said it has received an unsolicited offer
from First Mining Finance Corp. (TSXV:
FF) to acquire all of the outstanding common shares of Coastal Gold for
0.122 common shares in the capital of FMF for each Coastal Gold common share
held. On March 2, 2015, Coastal Gold said it agreed to be acquired Sulliden Mining Capital Inc. (TSX:
SMC) in consideration for 0.05 of a Sulliden share for each Coastal
Gold common share held. Coastal Gold’s flagship property is the Hope Brook Gold
Project in Newfoundland.
As well,
shares of Empire Industries Ltd. (TSXV:
EIL) climbed 12% to $0.14 as the manufacturer of specialized
engineered products announced that its fiscal 2015 revenue rose 20% to $141.2 million, while net
income for the year surged 39% to $6.1 million.
Sarama Resources Ltd. (TSXV:
SWA), meanwhile, reported that regional drilling at the Phantom West
Prospect has delineated additional oxide mineralisation over a strike length of
1.3km, bringing the total semi-continuous strike length of drill-defined
mineralisation at the South Houndé Project in
Burkina Faso to 9.8km. Sarama Resources stock moved up 20%
to $0.09 following the announcement.
