Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, June 9, 2009
TORONTO (SHfn) – Some shareholders Tuesday hoped Irish offshore oil will be a lucky charm, while rare earth and gold results boosted a small explorer.
Serica Energy plc (TSX: V.SQZ, Stock Forum) shares jumped 34% to $1.45 on Tuesday after the oil and gas producer/explorer said it has completed its drilling operations on the Bandon offshore exploration well in licence FEL 1/06 in the Slyne Basin, west of Ireland. Serica spudded well 27/4-1 on May 11, with the Ocean Guardian semisubmersible drilling rig and drilled to a total depth of 6,233 feet through the Jurassic and Sherwood intervals. Oil was encountered and a sidetrack was drilled to acquire additional data and samples.
As well, shares of Chariot Resources (TSX: T.CHD, Stock Forum) added 12% at 29 cents as the micro cap miner announced the filing of the Definitive Feasibility Study 43-101 Technical Report for its 70% owned Mina Justa Project in Peru, which identifies opportunities to increase after-tax net present value by US$54 million, or CDN 12.6 cents per Chariot share, plus the potential to extend mine life by up to seven years. In addition, there is the potential for a US$118 million reduction in capital costs.
King's Bay Gold (TSX: V.KBG, Stock Forum) and Mainstream Minerals (TSX: V.MJO, Stock Forum), meanwhile, reported that they have received the final rare earth elements and gold drill results from their Phase 2 program at their Bobjo Mine Project near Red Lake, Ontario. Results included 54.25 metres grading 30.57 grams per tonne (g/t) scandium, 5.01 g/t rubidium, 15.31 g/t neodymium, 26.23 g/t cerium, and 12.10 g/t lithium, while gold results included 53.61 g/t over 2.45 metres. King's Bay stock popped as much as 62% to 10.5 cents.
And, shares of MedMira (TSX: V.MIR, Stock Forum) shot up as much as 46% to 10 cents after the developer and manufacturer of flow-through rapid diagnostics announced that the Centers for Disease Control and Prevention in the United States has selected its Multiplo HIV/Hepatitis C Rapid Test to be a part of a collaborative evaluation program.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |