Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, May 6, 2009
TORONTO (SHfn) – New gold intersections caught the attention of the resource speculators Wednesday, while one stock got an energy production boost.
Golden Tag Resources (TSX: V.GOG, Stock Forum) shares powered 19% higher to 22 cents on Wednesday after the micro cap explorer announced additional results from recent diamond drilling on the Lingo Gold Occurrence on the Aquilon Main Gold Property in James Bay, Quebec, which included 13 new intersections that returned more than 34.29 grams per tonne (g/t) gold.
As well, shares of NuVista Energy (TSX: T.NVA, Stock Forum) added 12% at $10.01 as the oil and gas producer/explorer reported that it achieved record production of 26,175 boe/d with a 71% natural gas weighting in the first quarter of 2009.
Pure Nickel (TSX: T.NIC , Stock Forum), meanwhile, said it and its project partner, ITOCHU Corporation of Tokyo, met in Vancouver on April 20 and 21 and finalized a US$4.4 million exploration budget for the MAN nickel-copper-platinum group element project in Alaska. Pure Nickel stock popped 42% to 17 cents.
Shares of PharmaGap (TSX: V.GAP , Stock Forum) jumped 12% to 19 cents after the biotech firm announced the provision of its lead cancer drug PhG-alpha-1 to the Ottawa Hospital Research Institute to begin testing for an ovarian cancer treatment.
And, Anglo Canadian Uranium (TSX: V.URA , Stock Forum) Wednesday said it has entered into an agreement to bring southwestern United States uranium exploration properties and a mill project to the market place as a consolidated uranium resource play. This agreement is with Mancos Resources Inc., Bluebird Partners, LLC and Drilling Consultants Inc., and will enable the consortium of companies to effectively develop long-term uranium production to supply the growing demand for nuclear power. Anglo Canadian shares shot up 37% to 13 cents.
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