Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 13, 2013
Colossus Minerals (T.CSI) lurches on TSX delisting review time reduction
A reduction in the time period the TSX will take to
review whether Colossus Minerals should be delisted from the TSX has driven that company’s share price down a further 12.5% today, down half a cent to $0.035, with heavy trading volume. The delist period will be 30 days instead of the usual 120.
Colossus (
TSX:T.CSI,
Stock Forum) execs have been trying to reach a negotiation with noteholders that would keep the company alive, but
reduce shareholder ownership to just 1.7% of the company. The company has dropped from $0.70 in early October as it has
struggled to retain funding and directors.
Lithium Americas (T.LAC) maintains volatility, still no news to explain big shift
The $33m market cap Lithium Americas (
TSX:T.LAC,
Stock Forum) enjoyed another rollercoaster morning Monday as shares fell 12.2% from $0.49 to $0.425, after jumping up a similar amount in the other direction Friday. T.LAC has been on the move on a regular basis since mid-November, when it began to shift up and down by double-digits on an almost daily basis. The company has
no explanation for the movement.
Osisko (T.OSK) takeover sees company jump 20%
Goldcorp’s (
TSX:T.G,
Stock Forum) big $2.6 billion takeover announcement for Osisko Mining Corp (
TSX:T.OSK,
Stock Forum) was the big story of the morning, with Goldcorp offering $5.95 a share for the gold producer. Osisko’s board has
not publicly announced whether it will support the deal.
QMX Gold (T.QMX) watches stock drop 40% as regulators ponder jump from TSX to Venture
Shares in QMX Gold (
TSX:T.QMX,
Stock Forum) dropped 40% Monday, slumping to $0.015 as the beleaguered microcap confirmed it will
cease to trade on the Toronto Stock Exchange on February 10.
An effort to switch to the Venture Exchange is underway but, though the company indicates the downward shift should be ‘smooth’, it also indicates the jump is ‘not guaranteed’ and no news as to when such a shift will happen has been released by regulators or the company.
Etrion Corp. (
TSX: T.ETX,
Stock Forum) rose 2.4% to 84 cents after the solar independent power producer announced that the company's CEO, Marco A. Northland, will be presenting at the
Pareto Securities Power and Renewable Energy Conference in Oslo on Thursday, Jan.16, 2014.
Renegade Petroleum Ltd. (
TSX: V.RPL,
Stock Forum) climbed 1.1% to 92 cents as investors assessed the news that the oil and gas company has entered into an agreement to sell certain
oil and gas assets in southeast Saskatchewan for gross proceeds of $109 million.
Enterprise Group, Inc. (
TSX: T.E,
Stock Forum) was up 2.6% to 78 cents. The stock is reacting to news that the trucking and heavy equipment company has made
significant advancements towards integrating the newly-acquired Hart Oilfield Rentals Ltd., an oilfield service provider.
Perseus Mining Ltd. (
TSX: T.PRU,
Stock Forum) rose 21.7% to 36.5 cents after the resource company reported preliminary
operating highlights at its Edikan gold mine in Ghana during the three months and six months ending Dec. 31, 2013
Tekmira Pharmaceuticals (
TSX:T.TKM,
Stock Forum) jumped 27.9% on a new Monsanto (
NYSE:MON,
Stock Forum) technology option deal when the Vancouver-based RNA interference developer signed an option agreement with the chemical giant granting them the right to obtain a license to use Tekmira’s delivery tech and IP for agricultural use.
Tekmira will receive a near-term payment of $16.5 million as part of the deal, and sees potential value of up to $86.2 million if milestones are hit. Shares in Tekmira rallied from the open, starting the day at $13.54, up from a previous close of $10.79. At the time of writing, shares were up 27.9% from the previous day at $13.80. Tekmira was trading at $5 in early July of last year and was sub-$8 in early December.
Alaris Royalty Corp (
TSX:T.AD,
Stock Forum) dropped 8.15% as its CRA tax fight promises to drag on. A dispute with the Canada Revenue Agency (CRA) forced shares down $2.36 to $26.84 Monday as Alaris restated its belief that it should be entitled to deduct non-capital losses. The
CRA intends to reassess the company and deny said deductions claimed for the tax year ending 2009.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Valeura Energy Inc. (T.VLE, Stock Forum) |
30.23% |
| Aurora Spine Corporation (V.ASG, Stock Forum) |
23.89% |
| Perseus Mining Limited (T.PRU, Stock Forum) |
21.67% |
| Tekmira Pharmaceuticals Corporation (T.TKM, Stock Forum) |
21.22% |
| TransGaming Inc. (V.TNG, Stock Forum) |
19.64% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Cynapsus Therapeutics Inc. (V.CTH, Stock Forum) |
-13.27% |
| Lithium Americas Corp. (T.LAC, Stock Forum) |
-12.24% |
| LX Ventures Inc. (V.LXV, Stock Forum) |
-10.53% |
| Lucara Diamond Corp. (T.LUC, Stock Forum) |
-9.66% |
| Essential Energy Services Ltd. (T.ESN, Stock Forum) |
-8.77% |