Stockhouse Canadian Small and Micro-cap Stock Report for Monday, October 28, 2013 VANCOUVER (SHfn) –
Volta Resources Inc. (
TSX: T.VTR,
Stock Forum) climbed 97.6% to 40.5 cents as investors assessed the news that gold miner,
B2Gold Corp. (
TSX: T.BTO,
Stock Forum) announced that the companies have signed a binding letter agreement whereby B2Gold has agreed to acquire all of the outstanding common shares of Volta at an exchange ratio of 0.15 B2Gold shares for each Volta share held, which represents a purchase price of approximately $0.42 per Volta share and a total equity value for Volta of approximately US$63 million based on the fully-diluted in-the-money Volta shares outstanding and a premium of 106% based on each respective company's share price on the Toronto Stock Exchange on October 25, 2013.
Blackbird Energy Inc. (
TSX: V.BBI,
Stock Forum) rose 15.8% to 11 cents after the oil and gas exploration and production company said that due to demand, it is increasing the size of its previous announced private placement from $1.5 million to total gross proceeds of up to $2.5 million. The private placement is expected to close on or about November 5.
Midas Gold Corp. (
TSX: T.MAX,
Stock Forum) rose 11.7% to 1.05 cents after the exploration and development company reported results of an independent mineral resource estimate for a significant portion of the historic tailings located on its Golden Meadows project in the Stibnite-Yellow Pine Mining District, Valley County, Idaho. These historic tailings were produced by prior operators during the 1920s through 1950s and present a potential opportunity for Midas Gold to remediate pre-existing disturbance by reprocessing these tailings, while contemporaneously providing potential value to shareholders. The mineral resource estimate for the historic tailings included an indicated resource of 2.53 million tonnes grading 1.19 grams per tonne gold, 0.17% antimony and 2.94 grams per tonne silver.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Volta Resources, Inc. (T.VTR, Stock Forum) |
97.56% |
| Global Cobalt Corporation (V.GCO, Stock Forum) |
86.67% |
| Marengo Mining Limited (T.MRN, Stock Forum) |
25.00% |
| Orezone Gold Corporation (T.ORE, Stock Forum) |
19.15% |
| BioSyent Inc. (V.RX, Stock Forum) |
15.25% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| WesternZagros Resources Ltd. (V.WZR, Stock Forum) |
-10.20% |
| CVTech Group Inc. (T.CVT, Stock Forum) |
-9.17% |
| 5N Plus Inc. (T.VNP, Stock Forum) |
-8.82% |
| Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (T.HNU, Stock Forum) |
-8.22% |
| Atlantic Power Corporation (T.ATP, Stock Forum) |
-6.19% |