Sean Mason | February 12, 2016 | SmallCapPower
More M&A in the junior gold sector piqued some speculators’ interests Friday, while a budget announcement boosted an energy play. Here’s some small stocks making big moves on Friday, February 12, 2016 (as of 4 pm EST):
Clifton Star Resources Inc. (TSXV: CFO) shares powered 100% higher to $0.37 on volume of more than 4.1 million shares Friday after the gold and base metals explorer announced that it has agreed to be acquired by First Mining Finance Corp. (TSXV: FF) in an all-stock transaction. Clifton Star shareholders will receive one common share of First Mining for each Clifton Star common share held.
As well, shares of Sirius XM Canada Holdings Inc. (TSX: XSR) climbed 16% to $4.26 following a Reuters report that said the satellite radio provider had been approached for a potential deal and was in early-stage talks.
Eagle Energy Inc. (TSX: EGL), meanwhile, reported that it has revised its 2016 capital budget, which includes a reduced monthly dividend and additional oil hedges which, in combination, provide Eagle with a corporate payout that matches cash flow at an average 2016 WTI price of $US35 per barrel of oil. Eagle Energy stock popped 12% to $0.58 following the announcement.
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