Mine driller powers higher on financial results

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, April 17, 2009

TORONTO (SHfn) – Record earnings lifted shares of a diamond driller Friday, while a lithium stake made more than a few shareholders happy.

Energold Drilling (TSX: V.EGD, Stock Forum) shares surged 15% to $1.45 on Friday after the diamond driller late Thursday reported record net income of $3.1 million for the fourth quarter and $10.7 million for fiscal year 2008, compared to net income of $2.2 million for the fourth quarter and $4.7 million for fiscal year 2007.

As well, shares of Tundra Semiconductor (TSX: T.TUN, Stock Forum) added 14% at $5.64 as Gennum Corporation (TSX: T.GND, Stock Forum) said it is increasing its purchase price for the Ottawa-based company. The manufacturer of silicon integrated circuits and hybrid circuits for manufacturers of video equipment, hearing equipment, and data communications equipment said it is increasing the purchase price for all of the Tundra shares from approximately $86 million to approximately $112 million, representing an increase of 31%. The consideration payable by Gennum for each Tundra Share will now be $5.81 in cash or 1.1679 common shares of Gennum, or a combination. Previously, Tundra shareholders could elect to receive $4.43 in cash, or 1.1575 Gennum shares for each Tundra share.

Pinetree Capital (TSX: T.PNP, Stock Forum), meanwhile, announced that, through a series of transactions ending on April 9, 2009, it acquired ownership of 250,000 common shares of Landdrill International (TSX: V.LDI, Stock Forum), representing about 0.5% of the total issued and outstanding common stock. Landdrill shares jumped 10% to 11.5 cents.

And, TNR Gold (TSX: V.TNR , Stock Forum) Friday reported the acquisition by staking of the 640 acre Fish Lake Valley property in Nevada, which the company believes has geological features similar to those that have acted as a trap for lithium brines in Clayton Valley. Its shares climbed 69% to 11 cents.