Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, December 18, 2008
TORONTO (SHfn) - Speculators took a shine to gold results Thursday, while a shipyard may have come in for some shareholders.
Galore Resources (TSX: V.GRI, Stock Forum) shares surged 56% to seven cents on Thursday after the micro cap explorer reported assay results ranging up to 30.59 grams per tonne (g/t) gold over 1.7 metres from the 2008 trenching and rock sampling program on its 100% owned Dos Santos project in Mexico.
As well, shares of Dynasty Metals & Mining (TSX: T.DMM, Stock Forum) added 32% at $2.25 as the miner announced that it has nearly completed plant construction at its Zaruma Gold Project in Ecuador. Initially, the company plans to process 300,000 tonnes of ore to produce about 100,000 ounces of gold annually.
Luxell Technologies (TSX: T.LUX, Stock Forum) shares soared 100% to four cents after the provider of electronic displays to the defense and aerospace industries said its Board of Directors has received an expression of intent from Lux Acquisition Corporation to purchase the issued and outstanding shares of the company for 10 cents a share, payable through a promissory note due on the third-year anniversary closing of the bid.
Alturas Minerals (TSX: V.ALT, Stock Forum), meanwhile, reported that a recently completed ground geophysical survey has defined large, deeply rooted geophysical anomalies beneath strong copper-gold anomalies at its Sombrero project in Peru. Alturas stock popped 50% to 4.5 cents.
Davie Yards (TSX: T.DAV, Stock Forum) shares skyrocketed 114% to 15 cents after the shipyard owner and operator said it received support from the Government of Canada, with the Minister of International Trade authorizing Export Development Canada to make available up to $380 million in financing and guarantees for the company.
Shares of Richards Oil & Gas (TSX: V.RIX, Stock Forum) powered 60% higher to four cents as the junior energy firm reported that natural gas production has begun from its Thorsby property. Nine standing wells (6.9 net) have been tied in to the recently constructed Thorsby gas processing facility that has been built on time and on budget. Production from the wellbores completed in the Edmonton sands at Thorsby begun on December 17, 2008, with initial gross productivity in excess of 1,500 mcf per day (1,300 mcf per day net to the company).
And, GLG Life Tech (TSX: T.GLG, Stock Forum) Thursday announced that it has completed the necessary work required to declare self-affirmed GRAS (Generally Recognized as Safe) status for its Rebpure product, which contains 97% pure Rebaudioside A stevia extract. Stevia is an all natural, zero-calorie sweetener. Its shares climbed 33% to $1.45.
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