Small
stocks making big moves on Wednesday, June 10, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
Glen Eagle Resources Inc. (TSXV:
GER) shares climbed 7% to $0.08 on Wednesday after the developer of
multiple resource properties said it has produced 30 ounces of gold and 1000
ounces of silver during the first week of June from its project in Honduras.
The daily plant throughput is set at 60 tons per day with mineralized material
averaging 6.5 grams gold per tonne and 130 grams silver per tonne. The company
added that production costs were just under C$300 per ounce and will remain as
such for the coming months.
As well,
shares of Loyalist Group Limited (TSXV:
LOY) continued to slide Wednesday, down 31% to $0.11. On Tuesday, shares of
the operator of private English as a Second Language (ESL) schools plunged 49% following
the release of its 2014 financial results, in which the COO acknowledged its “costs
are too high, managerial processes lack rigour, and revenue has dropped in Q1.”
CMC Metals Ltd. (TSXV:
CMB), meanwhile, reported on the progress at the Radcliff gold project in
California, in which CMC Metals has a 50% interest, and been advised that PBI
is in negotiations with a smelter located within trucking distance of Radcliff to
direct ship mineralized material from the current underground workings. Bulk
samples taken from the Radcliff Project have been sent to the smelter for
analysis and a site visit by smelter representatives to the mine is pending. CMC
Metals stock moved up 15% to $0.075 following the announcement.
Finally, Patient Home Monitoring (TSXV:
PHM) shares rose 5% to $1.52 after the healthcare services provider announced
that it has executed a final, binding purchase agreement to acquire Sleep
Management, a business with annualized revenue of more than $42.5 million and
Adjusted EBITDA of more than $18 million.
