Stockhouse Canadian Small and Micro-cap Stock Report for Friday, March 6, 2009
TORONTO (SHfn) – Two tiny coal plays heated up Friday, while a biopharma stock popped on a licensing agreement.
Geo Minerals (TSX: V.GM, Stock Forum) shares jumped 35% to 13.5 cents on Friday after the micro cap miner and Alix Resources (TSX: V.AIX , Stock Forum) reported the acquisition of an 80% interest in the "Hudson Bay" property from NuCoal Energy Corp. The Hudson Bay property is comprised of just over 7,000 acres of coal prospecting permits of which the closest boundary is approximately two kilometers from the Goldsource Mines' new Split-Leaf Coal Discovery. Alix shares climbed 21% to 14.5 cents.
As well, shares of AEterna Zentaris (TSX: T.AEZ , Stock Forum) added 37% at $1.25 as the biopharmaceutical firm focused on endocrine therapy and oncology announced the signing of a development, commercialization and licensing agreement with Sanofi-Aventis (NYSE: SNY, Stock Forum) for the development, registration and marketing of cetrorelix in benign prostatic hyperplasia for the U.S. market. Cetrorelix, a luteinizing hormone-releasing hormone antagonist, is currently in a Phase 3 program in BPH, a non-cancerous enlargement of the prostate, affecting more than 20 million men in the U.S. alone.
BNK Petroleum (TSX: T.BKX , Stock Forum), meanwhile, said it has applied for 720,000 acres of oil and gas exploration concessions in Eastern Europe, which are prospective for shale gas. Also, in the Tishomingo Field, Oklahoma, BNK has drilled and participated in a total of 39 wells and has 22 wells currently on production. BNK's December 2008 exit rate was approximately 980 barrels of oil equivalent (BOE) per day from 18 wells. Two additional wells were awaiting pipeline hookup, which would have added another 200 BOE per day. BNK stock popped 15% to 15 cents.
And, Southwestern Resources (TSX: T.SWG , Stock Forum) Friday reported that the class actions commenced against the company and others in British Columbia, Ontario and Quebec have been dismissed pursuant to the Class Settlement Agreement announced by the company in its press release dated September 10, 2008. Its shares surged 18% to 23 cents.
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