Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, March 8, 2011
TORONTO (SHfn) – Eagle Hill Exploration (TSX: V.EAG, Stock Forum) shares jumped as much as 19% to 34.5 cents on Tuesday after the micro cap miner reported further results of its drilling program at the Windfall Lake Property in Quebec, which included 13.32 grams per tonne (g/t) gold over 19 meters.
As well, shares of Lion Energy (TSX: V.LEO, Stock Forum) moved up 13% to 35.5 cents as the oil and gas explorer said it has entered into a letter of intent pursuant to which Africa Oil (TSX: V.AOI, Stock Forum) will acquire Lion, by way of a plan of arrangement. As per the terms of the letter of intent, Africa Oil is proposing to exchange each share of Lion for 0.2 shares of Africa Oil.
Matamec Explorations (TSX: V.MAT, Stock Forum), meanwhile, reported results of its metallurgical test work to recover the rare earth and zirconium values from the Eudialyte zone of its Kipawa deposit on the Zeus property in Quebec. The concentration step combined with Matamec's proprietary leaching method yielded overall recoveries of rare earths of about 81%. Matamec stock popped 11% to 55 cents.
And, Waldron Energy (TSX: T.WDN, Stock Forum) Tuesday announced that its 100% working interest Ricinus 12-11-36-9W5 well in Alberta has been completed and tested at 10.2 MMcf per day on a 35% drawdown plus expected liquids of 40 bbls/mmcf out of the Ellerslie Formation. Waldron shares rose 10% to $3.80.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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