Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, September 24, 2009
TORONTO (SHfn) – A silver 43-101 caught the attention of speculators Thursday, while gold results gave a lift to a small explorer.
Golden Goliath Resources (TSX: V.GNG, Stock Forum) shares jumped 44% to 28 cents on Thursday after the micro cap miner announced results from the preliminary NI 43-101 mineral resource estimate for the Las Bolas Property in Mexico. The resource potential shows an upper range of 16,362,000 tonnes @ 213 grams per tonne (g/t) silver totaling 112 million ounces silver, with a lower range of 6,135,750 tonnes @ 151 g/t silver totaling 30 million ounces of silver.
As well, shares of Yorbeau Resources (TSX: T.YRB.A , Stock Forum)gained 21% to 29 cents as the junior miner reported drill results from the Cinderella zone of the Rouyn property in Quebec, which included 74.67 g/t gold over 10.35 metres.
Eastmain Resources (TSX: T.ER, Stock Forum) shares surged 10% to $1.37 after the miner announced the discovery of a new gold target at its wholly-owned Clearwater project in Quebec, where a composite grab sample of vein material, located one-half kilometre east of the Eau Claire gold deposit, assayed 254 g/t gold, 640 g/t silver, and (greater than) 500 g/t tellurium.
Ventura Gold (TSX: V.VGO, Stock Forum), meanwhile, said it has entered into a binding letter agreement whereby International Minerals (TSX: T.IMZ, Stock Forum) will acquire, in an all-share transaction, all of the issued and outstanding shares of Ventura. Ventura shareholders will receive one International Minerals common share for every 10 Ventura common shares held. Based on Wednesday's respective International Minerals and Ventura closing prices, the consideration is valued at 43 cents per Ventura common share. Ventura stock popped 14% to 40 cents.
And, Radar Acquisitions (TSX: V.RAC, Stock Forum) Thursday reported that it has entered into an agreement to create a U.S. coal mining company in partnership with a group of private investors in Alabama. Under the agreement Radar will own 49% of RAC Mining with the remaining ownership being held by two Alabama based mining companies. The assets of the newly-created company will include a historically producing Alabama coal property. Its shares climbed 18% to 10 cents.
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