Stockhouse Canadian Small and Micro-cap Stock Report for Monday, June 22, 2009
TORONTO (SHfn) – Wide gold mineralization was welcome news for some shareholders Monday, while an India deal boosted an alternative energy play.
Victoria Gold (TSX: V.VIT, Stock Forum) shares climbed as much as 22% to 46.5 cents on Monday after the micro cap explorer reported results from the Helen Zone at its Cove Project in Nevada, which included a wide gold-mineralized interval of 274.3 metres of 2.50 grams per tonne (g/t) gold.
As well, shares of Alternative Fuel Systems (2004) (TSX: V.AFX, Stock Forum) shot up 60% to 16 cents as the developer of core components for the international automotive sector specializing in the alternative fuel marketplace said it is providing natural gas engine controllers to Mahindra and Mahindra Ltd., a major manufacturer of motor vehicles in India.
Coeur d'Alene Mines (TSX: T.CDM, Stock Forum), meanwhile, reported that the United States Supreme Court has released its decision affirming the previously issued permit for the tailings facility for the Kensington gold mine near Juneau, Alaska. The decision clears the way for completion of the only item remaining to be constructed, the tailings facility, and for production to commence at the mine. The company said the mine's potential for 125,000 ounces of annual gold production represents a 135% increase for Coeur over its current gold production levels. Coeur d'Alene stock popped 10% to $13.12.
And, Northern Abitibi Mining (TSX: V.NAI, Stock Forum) Monday announced that two new areas of gold mineralization have been uncovered in new trenches and road cuts at the Viking gold project in Newfoundland. Two grab samples from a sulfide bearing quartz vein from this zone have returned 57.8 and 120.1 g/t gold. Its shares surged 12% to 14 cents.
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