Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, August 20, 2009
TORONTO (SHfn) – A junior explorer climbed on results from a Quebec property, while a biotech moved higher on news of a potential agreement
D’Arianne Resources (TSX: V.DAN, Stock Forum) reported preliminary exploration results on the Lac a Paul phosphorus-titanium property in Quebec Thursday, noting that the campaign resulted in the discovery of many new zones mineralized in apatite and ilmenite. From the 231 results obtained, grades returned up to 16 % P2O5 and 24 % TiO2, while 35 samples returned more than 5 % P2O5 and 16 samples returned more than 6 % P2O5, says the company. Shares of D’Arianne powered 14% higher to 20 cents earlier Thursday, and ended the day up 11% to 19.5 cents.
Calgary-based Mart Resources (TSX: V.MMT, Stock Forum) said that it has entered into an arrangement agreement for the sale of all of the issued and outstanding securities of the company to Westfield Exploration and Production Limited, a private African Company and subsidiary of Westoil Limited. Under the terms of the agreement, Mart shareholders are set to receive 14 cents per Mart share. Shares of the company climbed 35% to 11.5 cents.
LNG Energy (TSX: V.LNG, Stock Forum) shares jumped 11.7% to 19 cents, as the company announced that its U.S. subsidiary, BWB Exploration, participated in a successful exploration well targeting the Woodford shale in the Ardmore Basin of Oklahoma in May. LNG says initial production exceeded 3 mmcf/day, with 300 bopd and associated natural gas liquids, at a surface flowing pressure in excess of 1,000 psi.
And, shares of Quebec-based biotech Medicago (TSX: V.MDG, Stock Forum) were up 16% to 50 cents, as the company announced that it has signed a memorandum of understanding with Indian pharmaceutical company Ajanta Pharma to discuss and negotiate an agreement to commercialize Medicago's pandemic and seasonal influenza VLP-based vaccines in India and other territories. Under the terms of the MOU, Medicago says the parties will evaluate and select an optimal deal structure with the objective of formalizing a definitive agreement within 90 days.
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