Junior explorer soars on gold assays

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 20, 2008

TORONTO (SHfn) - A small gold play glistered Tuesday, while a software stock popped on a multi-million dollar contract.

Temex Resources (TSX: V.TME, Stock Forum) shares powered 27% higher to 14 cents on Tuesday after the micro cap miner reported further drill results from the ongoing 15,000 metre diamond drill program on the Whitney Township Property in the Timmins Gold Camp in Ontario, which included 86.18 grams per tonne (g/t) gold over 0.50 metres within a larger zone of 5.90 g/t gold over 9.1 metres.

As well, shares of Atlantis Systems (TSX: T.AIQ, Stock Forum) shot up 20% to three cents as the provider of simulation-aided design and engineering said it has secured a $1.3 million contract with the Department of National Defence to design, develop and deliver a professional development training package for aircraft maintenance technicians who are preparing to assume supervisory positions. Revenue from the contract will be recognized in fiscal 2009.

TVI Pacific Inc. (TSX: T.TVI, Stock Forum), meanwhile, announced that it and its Philippine affiliate, TVI Resource Development (Phils.) Inc. (TVIRD), have signed an Omnibus Loan and Security Agreement with LIM Asia Multi-Strategy Fund Inc and LIM Asia Special Situations Master Fund Limited providing for a US$29,926,801 principal amount Term Loan Facility, to provide TVIRD with additional working capital funding to further advance commissioning and construction activities and to support mining and processing activities at the Canatuan mine site, located on the Zamboanga Peninsula in the southern Philippines. TVI Pacific stock popped popped 50% to three cents.

Shares of Redknee (TSX: T.RKN, Stock Forum) soared 45% to 22.5 cents after the provider of mission-critical software and solutions for communications service providers reported that a North American tier-one communications service provider has awarded Redknee a multi-million dollar contract for a solution that will enable its wireless subscribers to gain greater control over their mobile experience by being able to set individual user limits and preferences for voice, text, and data services. The company anticipates that the bulk of the revenue from this contract will be recognized during fiscal 2009.

And, Kirkland Lake Gold (TSX: T.KGI, Stock Forum) Tuesday announced an update on exploration drilling testing part of the South Mine Complex in the Abitibi Southern Greenstone Belt of Kirkland Lake, Ontario, which included 2.21 ounces per ton of gold over 12.4 feet. Its shares jumped 11% to $4.49.