Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, September 23, 2009
TORONTO (SHfn) – A small gold play glistered Wednesday, while a fuel cell stock popped on an India contract.
ATAC Resources (TSX: V.ATC, Stock Forum) shares jumped as much as 32% to 75 cents on Wednesday after the micro cap explorer reported new gold intercepts from its wholly-owned Rau property in the Keno Hill District of Yukon Territory, which included 23.01 grams per tonne (g/t) gold over 20.67 metres.
As well, shares of Hydrogenics (TSX: T.HYG, Stock Forum) added as much as 14% at 64 cents as the developer and manufacturer of hydrogen generation and fuel cell products announced that it has received an order from India’s Bhushan Power & Steel Limited for a two megawatt installation of HySTAT electrolyzers.
Canext Energy (TSX: V.CXZ, Stock Forum), meanwhile, said it has successfully drilled and completed its first horizontal well (60% WI) at Sweeney in Alberta. The well logs indicated six to seven meters of oil pay with porosities greater than 20%. The company also drilled a vertical infill well (60% WI) at Sweeney, which encountered approximately eight meters of net pay with porosity greater than 20%. The wells are expected to be on production in October at a combined rate of 160 - 200 bbls/d (100 - 120 bbls/d net). Canext stock popped 21% to 48.5 cents.
Also, Nortec Ventures (TSX: V.NVT, Stock Forum) announced that it has signed a memorandum of understanding to acquire 100% interest in the Seinajoki gold project near the town of Seinajoki in Finland. Nortec shares surged 23% to 13.5 cents.
Shares of North American Gem (TSX: V.NAG, Stock Forum)powered 43% higher to 10 cents after the junior miner reported the completion of a definitive agreement to acquire a near production coal mining leases located in Knox County, Kentucky.
And, Yukon Gold (TSX: T.YK, Stock Forum) late Tuesday said it has signed a memorandum of understanding with Bellhaven Copper and Gold to acquire a 75% interest in the Cerro Quema gold project located in the Republic of Panama a consideration of US$19,915,000 (which includes project financing). Its shares climbed as much as 233% to 10 cents on Wednesday.
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