Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 28, 2010
TORONTO (SHfn) – Gold results grabbed the attention of more than a few speculators Thursday, while a potash takeover stirred up the sector.
Volta Resources (TSX: T.VTR, Stock Forum) shares powered as much as 22% higher before closing up 10% to 79 cents after the micro cap miner reported results from a four hole scout drilling program recently completed at the Nassara prospect, at its 100% owned Danyoro permit, in Burkina Faso, West Africa, which included intersections of 15 metres of 4.45 grams per tonne (g/t) gold.
As well, shares of Athabasca Potash (TSX: T.API, Stock Forum) gained 24% to $8.30 as the potash explorer said it has entered into a definitive agreement whereby BHP Billiton will acquire all of the issued and outstanding common shares of Athabasca Potash at a price of $8.35 per share in cash, or a total consideration of approximately $341 million on a fully-diluted basis.
Crew Gold (TSX: T.CRU, Stock Forum), meanwhile, announced that Endeavour Financial Luxembourg SARL, a wholly-owned subsidiary of Endeavour Financial (TSX: T.EDV , Stock Forum), has purchased 37.9% of Crew's issued and outstanding common shares in a market transaction. Crew stock popped 44% to 16.5 cents.
Shares of Cymat Technologies (TSX: T.CYM, Stock Forum) climbed 11% to 20 cents after the materials technology firm specializing in the military, automotive and architectural industries reported that it has appointed Lieutenant Generals (U.S. Army Retired) Jay M. Garner and Ronald V. Hite to its newly-established Advisory Board.
And, Vior Inc. (TSX: V.VIO, Stock Forum) Thursday announced results of a Preliminary Economic Assessment (PEA) and a new underground resource estimate for its 100%-owned Douay Ouest gold project in Quebec. Using a price of $925 per ounce of gold, the Preliminary Economic Assessment gives a net cumulative cash flow of $31.76 million, a pre-tax Net Present Value (NPV) of $24.61M at 5%, an Internal Rate of Return (IRR) of 71.1% and a payback period of less than two years. The mine life is five-year at a maximum annual production of 135,000 tonnes. Its shares added 44% at 11.5 cents.
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