Junior miner jumps on uranium mineralization

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 26, 2009

TORONTO (SHfn) – A small uranium play heated up Thursday, while a spin off boosted an explorer.

U3O8 Corp. (TSX: V.UWE, Stock Forum) shares powered 45% higher to 55 cents on Thursday after the micro cap miner reported uranium mineralization from drilling in the Aricheng West target area in the Kurupung Batholith, in basement rocks near the Roraima Basin in Guyana, which included 2.3 metres at 0.551% (11 pounds per short ton) U308.

As well, shares of Noveko International (TSX: T.EKO, Stock Forum) added 12% at $2.10 as the provider of solutions in the environmental and medical fields announced the launch of its new Microban line of hand sanitizers. The hand sanitizers formerly marketed under the AZURO brand are now sold under the Microban brand name, pursuant to the terms of the August 2009, agreement with Microban International, Ltd., a provider of built-in antimicrobial product protection.

Terra Ventures (TSX: V.TAS, Stock Forum), meanwhile, reported a proposed spin-off transaction to reorganize the company's mineral property assets into two separate public companies in an effort to maximize shareholder value. The specific assets to be spun-out to Newco will include the 100% owned Lac Kachiwiss property in Quebec, a 10% carried to production interest in certain mineral claims in the Athabasca Basin held by Titan Uranium Inc., a 2% net smelter return in 10 mineral dispositions in the Athabasca Basin held by Solitaire Minerals Corp., an expected 51% interest in the REN property in the NWT, and cash of approximately $5 million. Terra stock popped as much as 11% to 42 cents.

And, Xtierra (TSX: V.XAG, Stock Forum) Thursday said it has issued invitations for bids from contractors for an initial 2,000 metre surface and underground drill program on its El Dorado gold project located in the historic Pinos gold district of central Mexico. Its shares surged 22% to 11 cents.