Stockhouse Canadian Small and Micro-cap Stock Report for Monday, November 24, 2008
TORONTO (SHfn) - Speculators took a shine to a Chinese mining properties sale Monday, while mad money blew into a wind power play.
GobiMin (TSX: V.GMN, Stock Forum) shares climbed 13% to 38 cents on Monday after the micro cap miner said it has entered into two definitive sale and purchase agreements with Xinjiang Xinxin Mining Industry Co. to dispose of its three nickel-copper mining properties, namely Yellow Mountain East, Xiangshan and Yellow Mountain, in China for a total cash consideration of about $87.9 million.
As well, shares of Finavera Renewables (TSX: V.FVR, Stock Forum) powered 22% higher to 5.5 cents as the developer of renewable energy resources and technologies announced its bid to develop four wind energy projects in British Columbia. To facilitate the bid into BC Hydro's 2008 Clean Power Call, Finavera Renewables has signed a memorandum of understanding with GE Energy Financial Services for proposed financing of up to 295 megawatts of clean wind power projects in the Peace region in northeast British Columbia.
Predictive medicine company PreMD Inc. (TSX: T.PMD, Stock Forum), meanwhile, said it has entered into a fully-funded collaborative clinical study with one of the world's largest cosmetic companies. PreMD's PREVU* skin cholesterol test will be used in conjunction with one of the cosmetic company's skin care products in a European clinical study. This follows an earlier successful study completed by PreMD with the cosmetic company. PreMD stock popped 400% to 2.5 cents.
Shares of AeroMechanical Services (TSX: V.AMA, Stock Forum) shot up 26% to 17 cents after the provider of technological solutions and services designed to reduce costs and improve efficiencies in the airline industry reported that it has received a contractual agreement from a significant European based leisure carrier to execute the first phase of its recently announced Total Fuel Information Management program.
And, Gold Hawk Resources (TSX: V.CGK, Stock Forum) Monday announced that in response to the receipt of an unsolicited expression of interest regarding all or part of the company's wholly owned subsidiary, Compania Minera San Juan (Peru) S.A., and due diligence being conducted on the gold, zinc and lead property by two other parties under confidentiality agreements, the Board of Directors is forming a Special Committee and has retained an independent financial advisor in Lima and Fraser Milner Casgrain LLP in Vancouver as its legal advisors. Its shares surged 100% to three cents.
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