Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, December 23, 2009
TORONTO (SHfn) – Gold assays were a nice stocking stuffer for some shareholders Wednesday, while a sweetened bid boosted a small miner.
Oromin Explorations (TSX: T.OLE, Stock Forum) shares surged as much as 12% to 91 cents on Wednesday after the micro cap miner provided a drilling update and summary for the ongoing exploration program at its Sabodala Gold Project in Senegal, West Africa. Results included 14.24 grams per tonne (g/t) gold over seven metres.
As well, shares of Canplats Resources (TSX: V.CPQ, Stock Forum) powered 54% higher to $4.85 as the miner said it has received a binding proposal from Minera Penmont, S. de R.L. de C.V. for the acquisition of all of the outstanding common shares of Canplats by way of a plan of arrangement that is financially superior to the terms of the business combination agreement between Canplats and Goldcorp. Under the transaction proposed by Penmont, Canplats shareholders would receive, for each Canplats common share, $4.20 in cash and shares of a new exploration company with a notional value of 20 cents. The new exploration company would hold $10 million in cash and Canplats' Rodeo, El Rincon, Mecatona, Maijoma and El Alamo Properties.
Pele Mountain Resources (TSX: V.GEM, Stock Forum) shares moved up 17% to 21 cents after the junior explorer reported assay results from channel sampling at its East Highland gold project in northern Ontario, which included 14.76 g/t gold over 3.6 metres.
Centurion Minerals (TSX: V.CTN, Stock Forum), meanwhile, reported results from the early-stage exploration work conducted on its Copper Prince property, which consists of 12 patented claims located in Falconbridge Township, Sudbury, Ontario. One sample had a grade of 18.45 g/t gold, while another had a grade of 2.77% copper. Centurion stock popped 15% to 62 cents.
Shares of Ballard Power Systems (TSX: T.BLD, Stock Forum) gained 14% to $2.20 after the fuel cell power solutions provider announced a supply agreement with Daimler AG for FCvelocity fuel cell products for Daimler AG's fuel cell car and bus programs. The agreement provides for minimum revenue of approximately $24 million over 18 months from April 2010, with roughly equal distribution in 2010 and 2011.
And, Smartcool Systems USA, a wholly-owned subsidiary of Smartcool Systems (TSX: V.SSC, Stock Forum), Wednesday reported that it has been awarded a U.S. Government Services Administration (GSA) contract. The GSA is an independent agency of the United States government established to help manage and support the basic functioning of federal agencies, including the procurement of products. The contract permits the listing of the Smartcool products on the GSA website, which allows any purchasing agent within the United States federal government seeking energy savings devices to purchase the Smartcool products at a preferred price. Smartcool shares climbed 20% to 32.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |