Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, April 28, 2009
TORONTO (SHfn) – Some shareholders cashed in from gold/silver chip samples Tuesday, while a small miner heated up on coal sales.
Golden Goliath Resources (TSX: V.GNG, Stock Forum) shares climbed as much as 30% before closing up 10% to 11 cents on Tuesday after the micro cap miner reported that assays from recent infill underground chip sampling of the Station 37 area within the old Las Bolas mine tunnel in Mexico have now been received. The recently assayed samples have returned gold values as high as 51.2 grams/tonne (g/t) gold over 0.75 metres, and as high as 2,300 g/t silver over 1.2 metres.
As well, shares of Response Biomedical (TSX: T.RBM , Stock Forum) soared 28% to 20.5 cents as the maker of on-site diagnostic tests said it has filed a U.S. Food and Drug Administration (FDA) 510(k) submission seeking clearance to market its Respiratory Syncytial Virus (RSV) test. The test will be marketed and sold exclusively by 3M Health Care as the 3M(TM) Rapid Detection RSV Test.
Calibre Mining (TSX: V.CXB , Stock Forum), meanwhile, reported that after a strategic review and, in light of current market conditions, management and Board of Directors have approved a change in the exploration focus of the company. Calibre will narrow its efforts to strategic opportunities in the Americas, with specific focus on the acquisition, exploration and development of epithermal and porphyry related gold, silver and copper deposits. Calibre stock popped 56% to 14 cents.
Shares of Western Canadian Coal (TSX:T.WTN, Stock Forum) jumped 23% to 96 cents after the junior miner announced that it has secured enough sales contracts and prices for the fiscal year ending March 31, 2010, to continue mining operations at the Wolverine operation and Brule mine in British Columbia. The company says it has entered into forward sale contracts for US$175 million at a rate of C$1.21 per US$1.00. Western also noted that it expects to produce about 1.7 million tonnes of metallurgical coal from its two operating mines.
And, Timminco Limited (TSX: T.TIM , Stock Forum) late Monday said it has entered into a subscription agreement with its controlling shareholder, AMG Advanced Metallurgical Group N.V., to purchase about 7.4 million common shares at a price of $2.02 per share for aggregate gross proceeds of $15.0 million. As a result of the transaction, AMG will own approximately 63.9 million common shares of Timminco, representing 53.8% of Timminco's total issued and outstanding share capital. Timminco shares surged 12% to $1.75.
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