Stockhouse Canadian Small and Micro-cap Stock Report for Monday, April 4, 2011
TORONTO (SHfn) – Prodigy Gold (TSX: V.PDG, Stock Forum) shares climbed 22% to 53 cents on Monday after the micro cap explorer reported results from a NI 43-101 compliant Preliminary Economic Assessment (PEA) of its 100% owned Magino mine gold project in northern Ontario. Highlights of the PEA, using US$1,000/oz gold, included a Pre-tax Net Present Value (NPV) of $351 million at a 5% discount rate generating an Internal Rate of Return (IRR) of 49%, with a payback period of 1.8 years.
As well, shares of Richfield Ventures (TSX: V.RVC, Stock Forum) shot up 25% to $9.92 as the junior miner announced a definitive agreement whereby New Gold (TSX: T.NGD, Stock Forum) will acquire all of the outstanding common shares of Richfield. Under the terms of the arrangement, each Richfield shareholder will receive 0.9217 of a New Gold share for each Richfield share held. The offer values Richfield at $10.38 per share, or a total consideration of $550 million.
Noveko International (TSX: T.EKO, Stock Forum), meanwhile, said HTS New York, a heating, ventilation and air-conditioning equipment integrator, has chosen Noveko filtration solutions for its customer base. Pursuant to a three-year agreement, HTS New York will purchase Noveko filtration solutions to incorporate them into its HVAC systems offering. Noveko stock popped 50% to 72 cents.
Shares of Kootenay Gold (TSX: V.KTN, Stock Forum) surged 20% to $1.10 after the junior explorer announced assay results from an additional 10 drill holes as part of a 10,000 meter, ongoing, multi-phase drilling program on its Promontorio Silver Project in Mexico, which included 237 grams per tonne (g/t) silver equivalent over 51 metres.
And, Cantex Mine Development (TSX: V.CD, Stock Forum) Monday reported drilling results from its Al Hariqah gold project in Yemen, which included 78 meters with an average grade of 3.08 g/t gold. Cantex shares rose 27% to 10 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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