Small
stocks making big moves on Tuesday, May 26, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Ivanhoe Mines Ltd. (TSX:
IVN) shares powered 8% higher to $1.25 on volume of more than 4.5 million
shares Tuesday after the mining projects developer announced that China’s Zijin
Mining Group Co., Ltd. has agreed to take a 49.5% stake in the Kamoa copper
discovery in the Democratic Republic of Congo for a total cash consideration of
US$412 million. According to the Financial
Times, Kamoa is one of the biggest copper projects in development and
will cost about $1.4 billion to reach first-phase output of 100,000 tonnes of
copper concentrate annually, with a long-term target of 300,000 tonnes.
As well,
shares of Mezzi Holdings Inc. (TSXV:
MZI) slipped 8% to $0.225 as the company that provides wireless
connectivity between your MEZZI hand bag and smartphone said it has added Cyrus
Driver to its Board of Directors, effective immediately. Mr. Driver has been
the Chief Financial Officer of Mezzi since November 2014 and is a Partner
at Davidson & Company LLP.
Intellipharmaceutics International Inc. (TSX:
I), meanwhile, reported that the United States Food and Drug Administration
(FDA) has concluded that the company’s abuse deterrent Rexista Oxycodone XR extended-release
tablets development program incorporating its Paradoxical OverDose Resistance
Activating System meets the criteria for Fast Track designation. Intellipharmaceutics
stock moved up $0.02 to $4.07 following the announcement.
