Stockhouse Canadian Small and Micro-cap Stock Report for Monday, November 10, 2008
TORONTO (SHfn) - Speculators took a shine to a small silver play Monday, while a mining investment firm jumped on financial results.
Silver Bear Resources (TSX: T.SBR, Stock Forum) shares climbed 13% to 43 cents on Monday after the micro cap miner reported results from exploration drilling at its 100% owned Mangazeisky silver project in the Russian Federation, which included 1,639 grams per tonne (g/t) of silver over a 5.6 metre interval.
As well, shares of Mundoro Capital (TSX: T.MUN, Stock Forum) shot up 25% to 20 cents as the mineral exploration, development and investment firm announced third-quarter consolidated and comprehensive income of US$2,470,237, or six cents a share, compared with a net loss of $889,964, or two cents a share, during the same period last year. Mundoro ended the quarter with $15,793,789 in cash, which equates to 41 cents per share, with no long-term debt.
Adaltis (TSX: T.ADS, Stock Forum) shares surged 40% to seven cents after the vitro diagnostic company reported a 28.3% jump in third-quarter revenue to $6.8 million. The increase was attributable to higher sales of infectious disease products, in particular in Middle East and Eastern Europe, and the re-launch of Eclectica.
Poly-Pacific International (TSX: V.PMB, Stock Forum), meanwhile, said it has signed a license agreement with Energy Quest (OTC:BB: EQST, Stock Forum) for the exclusive rights to commercialize and/or or manufacture, market and distribute Energy Quest's Gasification Technologies in the People's Republic of China. Poly-Pacific stock popped as much as 29% before closing unchanged at 3.5 cents.
Shares of UC Resources (TSX: V.UC, Stock Forum) jumped 14% to eight cents after the junior miner reported that it has received an environmental permit from the Mexican Ministry of Environment and Natural Resources, which is another milestone in its goal of bringing the La Yesca mill into silver and gold production in Mexico.
And, Dumont Nickel (TSX: V.DNI, Stock Forum) Monday announced a NI-43-101 compliant Technical Report for its 100% held Alberta SBH polymetallic black shale property. Highlights include recognition of potential for the existence of sedimentary exhalative - SEDEX style - sulfides at several locations on the property, and the proposed existence of two polymetallic black shale hosted potential mineral deposits, one of which comprises 1.2-1.3 billion short tons of mineralized material extending over 26 square kilometers, and the other comprises 109-132 million short tons of mineralized material extending over 4.5 square kilometers. Its shares powered 25% higher to 2.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |