Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 29, 2010
TORONTO (SHfn) – A high-profile investor boosted a small uranium explorer Friday, while a tiny tech stock popped on a multi-million dollar contract.
Kivalliq Energy (TSX: V.KIV, Stock Forum) shares climbed 58% to 30 cents on Friday after the micro cap explorer announced that Lumina Capital Limited Partnership, an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, will subscribe for approximately $500,000 of a total $2 million, non-brokered private placement in Kivalliq. The proceeds from this financing will be used to explore and develop Kivalliq's Lac Cinquante uranium deposit in Nunavut and for general working capital purposes. The financing will consist of 10 million units at a price 20 cents per unit.
As well, shares of Rutter Inc. (TSX: T.RUT, Stock Forum) shot up 25% to 12.5 cents as the provider of engineering solutions and technologies said it has been awarded contracts valued at US$4.75 million to supply assemblies to General Dynamics Land Systems-Canada for use in Stryker 8x8 vehicles sold to the U.S. Army. The units will be built by Rutter's manufacturing group in St. John's, Newfoundland. Rutter was also awarded additional contracts valued at a total of US$1.25 million for spare parts and related components bringing the total awarded to US$6 million.
Centric Energy (TSX: V.CTE, Stock Forum), meanwhile, reported that it has signed a Production Sharing Contact (PSC) with the government of the Republic of Kenya for Block 10BA located in the northern part of the Rift Valley Province of Kenya, which covers 16,205 square kilometers in a part of the Rift System that includes portions of several Tertiary-age rift sub-basins, including the Kerio and Turkana basins and the northern part of the Lodwar basin. Prospective resources range from a low case of 955 million BOEs up to a high case of 4,379 million BOEs, with a best estimate of 2,188 million BOEs. Centric stock popped 25% to 12.5 cents.
Shares of Zarlink Semiconductor (TSX: T.ZL, Stock Forum) surged 13% to $1.20 after the provider of semiconductor solutions for voice, enterprise, broadband and wireless communications said its third-quarter revenue of $54.4 million exceeded guidance, while its margins improved to 52% of revenue and cash increased by 11% to $61.9 million.
And, Arian Silver (TSX: V.AGQ, Stock Forum) Friday announced, further to its previous announcement dated January 19, 2010, that Geologix Explorations and Arian have executed a definitive agreement granting Geologix the exclusive Option to Purchase a 100% interest in the Tepal Gold-Copper Project, Mexico, subject to a 2.5% net smelter return royalty to the underlying vendor, Minera Tepal S.A. de C.V. Arian shares added as much as 11% at 10.5 cents.
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