Junior miner soars on financial results

Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, February 4, 2009

TORONTO (SHfn) - Upbeat earnings warmed the hearts of some investors Wednesday, while a railway play fell off the tracks.

Grande Cache Coal (TSX: T.GCE, Stock Forum) shares powered 29% higher to 88 cents on Wednesday after the miner reported third-quarter net income of $36.8 million, or 38 cents a share, compared with a net loss of $3.4 million, or five cents a share, during the same period last year.

As well, shares of Active Control Technology (TSX: V.ACT, Stock Forum) soared 35% to 11.5 cents as the provider of wireless voice communications and locating system announced that the U.S. Federal Mine Safety and Health Administration has approved its ActiveMine wireless Wi-Fi mesh network system for installation in all U.S. underground mines.

Gold-Ore Resources (TSX: V.GOZ, Stock Forum) shares surged 13% to 40.5 cents after the junior miner reported that its Board of Directors has approved an underground mine expansion plan for its 100%-owned Bjorkdal Gold Mine in Sweden. The mine is currently producing gold at the rate of 40,000 ounces per annum and the planned expansion will, over the next few months, raise gold output levels by approximately 20%.

Railpower Technologies (TSX: T.P, Stock Forum), meanwhile, said it and its U.S. subsidiary, Railpower Hybrid Technologies Corp., will seek court protection to restructure. Its stock stumbled 38% to five cents.

Shares of Africo Resources (TSX: T.ARL, Stock Forum) shot up 39% to 64 cents after the micro cap explorer reported that, following the conclusion of the Mining Review, it has reached agreement with La Generale des Carrieres et des Mines and the Government of the Democratic Republic of Congo on the amended terms governing the Kalukundi copper/cobalt property.

And, Atlantis Systems (TSX: T.AIQ, Stock Forum) Wednesday said its wholly-owned subsidiary, Atlantis Systems America, has been qualified by the U.S. Army Program Executive Office for Simulation, Training and Instrumentation as a contractor under STOC II, a 10-year Indefinite-Delivery/Indefinite-Quantity (ID/IQ) contracting vehicle. Its shares jumped 33% to four cents.