Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 7, 2010
TORONTO (SHfn) – Lithium results made some shareholders feel a whole lot happier Thursday, while an energy junior gushed on oil flow.
North Arrow Minerals (TSX: V.NAR, Stock Forum) shares powered 28% higher to 20.5 cents on Thursday after the micro cap explorer reported additional assay results from recent drilling at its wholly-owned Beaverdam lithium project in North Carolina, which included 12.0 metres grading 1.18% Li2O.
As well, shares of Miraculins (TSX: V.MOM, Stock Forum) moved up as much as 82% to 10 cents as the medical diagnostic firm focused on developing and commercializing diagnostic tests for unmet clinical needs announced that it has entered into a partnership with Inverness Medical Innovations (NYSE: IMA, Stock Forum) to advance and commercialize Miraculins' preeclampsia technology. Miraculins' preeclampsia technology is based on a suite of 35 novel biomarkers involved in the development of the placenta and the biology implicated in the development of preeclampsia, a debilitating and potentially fatal complication of pregnancy.
Paramax Resources (TSX: V.PXM, Stock Forum), meanwhile, said it has now completed its initial two well program at Fincastle, Alberta, and announced that the second well of the project at Fincastle East has been successfully drilled and cased as a Sawtooth oil well. The initial well at Fincastle, which was drilled and cased as a gas well in November, has now been completed and the frac stimulation of the well was successful. The company also said it now received all regulatory approvals and permits needed for the drilling program at its Idaho Project. Paramax stock popped 25% to 12.5 cents.
Exile Resources (TSX: V.ERI, Stock Forum) shares jumped 44% to 18 cents after the oil and gas explorer/producer reported results of the well test and completion of the Akepo-1 ST discovery in Nigeria. The drilling rig was demobilized on January 5, 2010, after a 50-day well testing and completion program on the Akepo field. Drill Stem Tests (DST) proved flowing hydrocarbons in all the three targeted reservoirs. The lowermost D6 sand tested at 1200 barrels of 43 degree API oil per day through a 20/64 inch choke, with low Gas Oil ratio (GOR). The D1 sand tested at 1170 barrels oil per day of 23 degree API oil through a 20/64 inch choke with low GOR, and the C1 sand tested at 570 barrels oil per day of 20 degree API oil through 20/64 inch choke with low GOR.
Shares of NeuLion (TSX: T.NLN, Stock Forum) climbed 27% to 84 cents as the end-to-end IPTV service provider of live and on-demand international, sports and variety programming delivered via broadband announced a multi-year partnership to distribute certain DISH Network international channels using NeuLion's IPTV service.
And, Linear Metals (TSX: T.LRM, Stock Forum) Thursday reported additional lithium drill results from the North Aubry Zone of its 100% owned Seymour Lake Lithium Project in north-western Ontario, which included an average sample composite thickness of 11.52 metres and an average sample composite grade of 1.467% Li2O. Its shares added 38% at 31 cents.
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