Stockhouse Canadian Small and Micro-cap Stock Report for Monday, October 25, 2010
TORONTO (SHfn) – Golden Predator (TSX: T.GPD, Stock Forum) shares climbed 11% to 70 cents on Monday after the micro cap miner reported results from its initial drill program at the Carlos Zone of its road-accessible Grew Creek project in the Yukon, which included 1.72 grams per tonne (g/t) gold over 146.3 metres.
As well, shares of Rodinia Oil (TSX: V.ROZ, Stock Forum) shot up 21% to $1.57 as the oil and gas explorer/developer announced that its Australian subsidiary, Officer Basin Energy Pty. Ltd., has executed an agreement with Ensign Australia Pty. Limited to engage Ensign's Rig 16 to carry out its initial six well drilling program. Rodinia's drilling program will initially test six separate large structural targets in the Officer Basin in South Australia.
Xcite Energy (TSX: V.XEL, Stock Forum), meanwhile, reported that the 9/3b-6 well on the Bentley field in the North Sea on the United Kingdom Continental Shelf is progressing on plan, on schedule and has reached target depth for the first part of the planned work programme, the pilot section of the well. The pilot section confirmed 113ft oil column, some 40ft thicker than the 73ft prognosis, in a high quality Dornoch reservoir and confirmed the oil water contact at 3729ft total vertical depth (on prognosis). The oil column has 100% net to gross (compared to previous average of 88%). Management believes that this height of oil column confirms that an upside structure is present in the eastern half of the reservoir, significantly increasing the volume of oil in place. Xcite stock popped 17% to $2.68.
And, AM Gold (TSX: V.AMG, Stock Forum) Monday announced additional results from its 2010 diamond drill core program at Red Mountain in the Yukon, which included 268.5 metres of 0.72 g/t gold. Its shares jumped 16% to 58 cents.
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