Stockhouse Canadian Small and Micro-cap Stock Report for Friday, December 19, 2008
TORONTO (SHfn) - Precious metals were an early present for some shareholders Friday, while a small miner popped on a spin-out.
Andean Resources (TSX: T.AND, Stock Forum) shares jumped 21% to 68 cents on Friday after the miner reported the second set of results from the 2008/09 drill program at its 100% owned Cerro Negro project in Argentina, which included 31 metres of 52.1 grams per tonne (g/t) gold and 568 g/t silver.
As well, shares of Golden Predator Mines (TSX: T.GP, Stock Forum) shot up 48% to 17 cents as the micro cap explorer announced the proposed segregation of its two main business components into separately listed public companies by spin-out of its gold and silver focused, precious metals portfolio to a new company (New GoldCo) by means of a plan of arrangement. Pursuant to the spin-out transaction, Golden Predator shareholders on the record date for the spin-out will be entitled to receive one New GoldCo unit for each four common shares of Golden Predator held by them.
AbitibiBowater (TSX: T.ABH, Stock Forum), meanwhile, said it remains committed to its $1 billion debt-reduction target and is currently exploring several options to address upcoming debt maturities, inclusive of asset sales. AbitibiBowater stock popped 33% to 53 cents.
Shares of Rusoro Mining (TSX: V.RML, Stock Forum) climbed 14% to 33.5 cents after the junior miner announced that it has achieved record monthly gold production of 13,475 ounces at historically low cash costs of US$385 per ounce at its Choco 10 mine in Venezuela.
And, Extenway Solutions (TSX: V.EY, Stock Forum) Friday reported that in the three months ended October 31, 2008, it had sales of $40,295 and a net loss of $642,625. In the three months ended October 31, 2007, the company had sales of $25,226 and a net loss of $448,411. Extenway is a provider of media, connectivity and communications solutions serving the hospitality and healthcare industries. Its shares surged 13% to 4.5 cents.
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