Stockhouse Canadian Small and Micro-cap Stock Report for Monday, November 3, 2008
TORONTO (SHfn) - A Chinese mining buy stirred speculator interest Monday, while some shareholders suffered from diamond withdrawal.
GobiMin (TSX: V.GMN, Stock Forum) shares climbed 55% to 68 cents on Monday after the micro cap miner said it has entered into two revocable framework agreements with Xinjiang Xinxin Mining Industry Co. to dispose of its three nickel-copper mining properties in China. It is estimated that GobiMin will receive net proceeds of $87.5 million before Chinese tax upon completion of the transaction.
As well, shares of Rockwell Diamonds (TSX: T.RDI, Stock Forum) sank 37% to 13 cents as Pala Investments Holdings reported that it is withdrawing and not proceeding with its all-cash offer to holders of the common shares of Rockwell. Pala has determined that a number of the conditions to the bid are incapable of being satisfied before the expiry time and has, therefore, withdrawn the bid at this time in order to provide shareholders with certainty as to the status of the offer.
Unique Broadband Systems (TSX: V.UBS, Stock Forum), meanwhile, announced that its 51% controlled subsidiary Look Communications (TSX: V.LOK, Stock Forum) has begun a WiMAX IEEE 802.16e-Wave2 trial in Milton, Ontario, using Motorola's latest WiMAX equipment. Look's WiMAX system utilizes the latest in 4G (Fourth Generation) technologies, offering a wide variety of mobile services, such as broadcast television, high-speed Internet and VoIP. Unique Broadband stock popped 64% to 18 cents.
Shares of Redline Communication Group (TSX: T.RDL, Stock Forum) powered 80% higher to 45 cents after Vecima Networks (TSX: T.VCM, Stock Forum) said it has acquired common shares of Redline and now owns 1,742,600, or 11.37%, of Redline outstanding common stock.
And, Western Wind Energy (TSX: V.WND, Stock Forum) Monday reported a 72% increase in third-quarter revenue to $1,405,648, while net loss for the quarter was $780,849, or two cents a share, compared with a net loss of $130,780, or a penny a share, during the same period last year. Its shares jumped 8% to 78 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |