Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, March 8, 2012
TORONTO (SHfn) – Eco (Atlantic) Oil and Gas (TSX: V.EOG, Stock Forum) shares powered 73% higher to $1.04 on volume of more than 5.9 million shares Thursday after the oil and gas explorer said it has received an independent Leads Report for Blocks "2213A" and "2213B" collectively the "Sharon Block" offshore Namibia, which included a (P50) Best Estimate of 7.79 billion barrels of prospective oil.
As well, shares of AM Gold (TSX: V.AMG, Stock Forum) rose as much as 39% to 18 cents on more than 1.5 million shares traded as the micro cap miner reported results of an updated resource estimate for the Jethro Structure on its Red Mountain Property in the Yukon Territory, which estimates an Inferred resource of 127 million tonnes grading 0.48 grams per tonne (g/t) gold, or approximately 1.95 million ounces of contained gold. A cut-off grade of 0.3 g/t gold was used for the estimate.
Intrepid Mines (TSX: T.IAU, Stock Forum), meanwhile, noted that on March 6 2012, the Indonesian government published an amendment to existing regulations regarding the implementation of mining business activities in Indonesia, which provides that foreign ownership in companies holding mining permits will be subject to mandatory progressive divestment requirements, such that foreign ownership is capped at 49% after the 10th year of mining production. Intrepid stock slipped 19% to $1.01.
And, Asantae Holdings International (TSX: V.JVA, Stock Forum) late Wednesday said it anticipates a significant increase in revenues and expects to be cash flow positive in the second quarter of this year, as well as the anticipation of record revenues for fiscal 2012. Asantae Holdings shares jumped as much as 28% to 23 cents on Thursday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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