Stockhouse Canadian Small and Micro-cap Stock Report for Friday, October 22, 2010
TORONTO (SHfn) – First Gold Exploration (TSX: V.EFG , Stock Forum) shares climbed 12% to 37 cents on Friday after the micro cap explorer reported the most recent drill results for the Lac Pivert/Rose project in Quebec, which included 2.15% Li2O (lithium oxide), 1,594 grams per tonne (g/t) rubidium, 150 ppm Ta2O5 (tantalum pentoxide), 147 ppm beryllium, 75 ppm gallium over 12.60 metres.
As well, shares of AeroMechanical Services (TSX: V.AMA, Stock Forum) rose 16% to 33.5 cents as the provider of technological solutions and services designed to reduce costs and improve efficiencies in the aviation industry announced that its contract to supply afirs kits and UpTime data and Iridium voice service to a Middle East military C-130 Hercules operator has been amended to add three additional aircraft, bringing the total under contract to 23.
Platinex (TSX: V.PTX, Stock Forum) and Creso Exploration (TSX: V.CXT, Stock Forum), meanwhile, reported that they have entered into an agreement to combine claim holdings along the Larder Lake Break into a 50/50 joint venture in the Shining Tree gold area of Ontario. A 1,000 metre drilling program is to begin immediately on the joint venture claims. Platinex stock popped 15% to 15.5 cents.
Shares of Cleanfield Alternative Energy (TSX: V.AIR, Stock Forum) surged 27% to 16.5 cents after the sustainable energy technologies provider said it has signed a license agreement with Sai Prasad Energy Pvt. Ltd., a subsidiary of the SAI Prasad Group of Companies. SAI is an arm's length party based in Pune, India with businesses including manufacturing and real estate development. Pursuant to the terms of the agreement, SAI will be granted exclusive manufacturing rights for off-grid systems for the continent of Asia. Furthermore, SAI has agreed to purchase $2 million of Cleanfield common shares in four installments subject to the approval and in accordance with the policies and regulations of the TSX Venture Exchange.
And, Foran Mining (TSX: V.FOM, Stock Forum) Friday said it has entered into a definitive agreement to consolidate 100% ownership of the McIlvenna Bay deposit by purchasing the 25% interest of Copper Reef Mining Corporation in the McIlvenna Bay Joint Venture Agreement. The McIlvenna Bay undeveloped VMS deposit is comprised of 26 claims totalling 12,950ha, and is located approximately one kilometre south of Hanson Lake, Saskatchewan. Foran shares climbed 23% to 70 cents.
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