Stockhouse Canadian Small and Micro-cap Stock Report for Monday, May 7, 2012
TORONTO (SHfn) – Prosperity Goldfields (TSX: V.PPG, Stock Forum) shares slipped 5% to 61 cents on Monday after the micro cap explorer announced assay results from three holes of the recently completed 12 hole spring drill program on its 100% owned Kiyuk Lake gold property in Nunavut, which included 61.5 metres at 3.3 grams per tonne (g/t) gold.
As well, shares of Donnycreek Energy (TSX: V.DCK, Stock Forum) continued to move higher Monday, up 9% to 73 cents. Donnycreek shares shot up 65% at the end of last week as the Calgary based oil and natural gas production company reported that the first horizontal Montney well Hz 13-17-63-5 in Alberta has been successfully drilled and completed with a 15 stage foam frac. The well production tested at a rate of 2,532 boe per day, 823 boe per day net to Donnycreek.
ProMetic Life Sciences (TSX: T.PLI, Stock Forum) and Hematech Biotherapeutics, meanwhile, announced the signature of definitive agreements for the co-development and co-exclusive commercialization, on a world-wide basis (excluding China), of a plasma-derived biopharmaceutical product targeting a rare medical condition. The $10 million from Hematech will fund the Orphan Drug's development program up to regulatory approval. ProMetic stock popped as much as 14% to 12 cents.
And, Baja Mining (TSX: T.BAJ, Stock Forum) Monday provided an update on the progress of its efforts to develop a funding solution for the recently announced capital cost overruns at its Boleo Project in Mexico. The company met in South Korea last week with the members of the Korean consortium who are Baja's partners in the Boleo project, and while Baja considered the discussions with the consortium as being positive, the company is concerned that an approval process in regards to the potential funding solutions being investigated may not be completed as quickly as required even if approved by the consortium. Baja Mining shares traded 9% lower to 37.5 cents on volume of more than 2.1 million shares.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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