Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, December 3, 2008
TORONTO (SHfn) – Shares of a junior miner climbed on gold results, while a technology company soared on offer news.
Vancouver-based Commander Resources (TSX: V.CMD, Stock Forum) surged 71.4% to six cents Wednesday after the company reported high-grade gold results from surface channel sampling and prospecting on the Hebert Prospect area, on Baffin Island, Nunavut. The company says channel sampling results included several high values, the best of which contained 91.06 g/t gold over 1.6 metres (including 446.6 g/t gold over 0.3 metres). Rock chip/grab sampling also returned high values, says the company, including 1,388 g/t gold, 861 g/t gold, 720 g/t gold, 213.5 g/t gold and 660.3 g/t gold.
Shares of Certicom (TSX: T.CIC, Stock Forum) soared 87% to $1.59, after Research in Motion (TSX: T.RIM, Stock Forum) announced that it intends to make an offer to acquire all of the issued and outstanding shares of the company. The total acquisition cost is expected to be approximately $66 million, with RIM offering $1.50 cash per Certicom Share. Certicom provides cryptographic technologies for software developers, government and corporate clients.
Explor Resources (TSX: V.EXS, Stock Forum) shares surged more than 63% to 15.5 cents Wednesday after the company provided a progress report after Tuesday’s market close on the Lynx Gold Zone at its Eastfort Lake property near Lake Abitibi in Ontario. The company reports that the Lynx Gold Zone has been traced using down hole geophysics and that “the mise a la masse down hole IP survey has produced a geophysical signature that indicated the mineralised zone is striking in a north-north westerly direction and dipping to the south-south westerly direction.” Results from the eight holes after the discovery of the Lynx Gold zone included 16.6 g/tonne gold in Hole #7 over an interval of 12 metres, and 11.3 g/tonne gold over an interval of 1.5m in zone 1 of Hole #10.
Garson Gold (TSX: V.GG, Stock Forum) saw its shares jump 50% to three cents after the company announced that it has completed the 25,000 metre 2008 drill program on its New Britannia Mine property in Snow Lake, Manitoba. The program tested four zones and highlights include expansion of the No. 3 Zone gold resource to 85,000 oz (394,000 tonnes @ 6.72 g/t gold) in the Indicated category, and a further 117,000 oz (575,000 tonnes @ 6.31 g/t gold) in the Inferred category.
Shares of Ivernia (TSX:T.IVW, Stock Forum) soared 25% to 7.5 cents early Wednesday afternoon after the company’s wholly-owned subsidiary, Magellan Metals reported that a decision by the Western Australian Government will allow the export of the company's 8,000 dry metric tonne lead carbonate concentrate stockpile at the Port of Esperance. Magellan says it is working to a timeline to implement the Lead Removal Plan in early January and complete removal of the stockpiled lead in around three months. The stockpile has been sealed in a storage shed since lead carbonate concentrate exports were suspended in early 2007, says the company. Shares of Ivernia closed up 16.7% to seven cents.
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