Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, February 10, 2010
TORONTO (SHfn) – A diamond resource prefeasibility was a shareholder’s best friend Wednesday, while financial results boosted a video games accessory maker.
Shore Gold (TSX: T.SGF, Stock Forum) shares surged 12% to 93 cents on Wednesday after the miner announced results of the combined Prefeasibility Study on the Star - Orion South Kimberlites in Saskatchewan, which includes the 100% Shore owned Star Diamond Project, as well as Star West and the Orion South Kimberlite. Highlights include a Probable Mineral Reserves of 279 million diluted tonnes at a weighted average grade of 12.5 carats per hundred tonnes containing 35 million carats at a weighted average price of $226 per carat over the life of mine, as well as a net present value of $1.3 billion (using a 7% discount rate) for an internal rate of return of 16% before taxes and royalties.
As well, shares of Mad Catz Interactive (TSX: T.MCZ, Stock Forum) gained 19% to 44 cents as the interactive entertainment accessory provider reported third-quarter net sales of $48.8 million, up 19% from $40.8 million during the same period last year and the second-best quarter of sales in the company's history. Net income for the quarter was a record $5.6 million, or nine cents per diluted share, compared with a net loss of $26.9 million, or 49 cents per diluted, a year earlier.
Xtierra (TSX: V.XAG, Stock Forum), meanwhile, said it has received a new independent resource estimate, compliant with National Instrument 43-101, for the Bilbao zinc-lead-silver-copper-gold deposit in Zacatecas, Mexico. The new resource estimate shows a 169% increase from the November 2008 estimate in the Indicated resources to 9.68 million tonnes and an increase of 68% in the Inferred resources to 4.04 million tonnes. Xtierra stock popped 35% to 23 cents.
And, Max Resource (TSX: V.MXR, Stock Forum) Wednesday announced that it will focus on its gold operations in Nevada after the British Columbia government said it will ban drilling in the Flathead Valley, where Max has been exploring. Its shares slid 26% to 26.5 cents.
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