Stockhouse Canadian Small and Micro-cap Stock Report for Monday, February 22, 2010
TORONTO (SHfn) – Gold assays glistered for one small miner Monday, while a China JV powered a tiny tech stock.
PC Gold Inc. (TSX: T.PKL, Stock Forum) shares climbed 21% to 64 cents on Monday after the micro cap miner reported that deep drilling below the Shaft 1 workings of the Pickle Crow gold mine in northwestern Ontario has cut the key No. 1 vein structure approximately 210 metres below the lowest mined level on this vein, and returned results that included 134.26 grams per tonne (g/t) gold over 3.20 metres.
As well, shares of Nstein Technologies (TSX: V.EIN, Stock Forum) shot up 88% to 64 cents as the digital content management solutions provider said it has entered into a definitive agreement by which Open Text (TSX: T.OTC, Stock Forum) will acquire all of the issued and outstanding common shares of Nstein through an Nstein shareholder-approved amalgamation with a subsidiary of Open Text under the Companies Act (Québec). Based on the terms of the definitive agreement, Nstein shareholders will receive 65 cents a share in cash, or a total consideration of about $35 million.
Natcore Technology (TSX: V.NXT, Stock Forum), meanwhile, announced that it has reached agreement with a consortium in China to form a joint venture company to develop and manufacture film-growth equipment and materials using Natcore's Liquid Phase Deposition (LPD) technology. Natcore has signed a letter of intent with the Zhuzhou Hi-Tech Industrial Development Zone (Hi-Tech Zone) to form a new company, "Natcore China," with rights to manufacture anti-reflective (AR) film growth equipment and materials. Natcore China will be 55% owned by Natcore Technology, with the Hi-Tech Zone and its partners the remaining 45% ownership position. Natcore China will be funded by an initial US$3 million investment consisting of $500,000 contributed by Natcore Technology, and $2.5 million contributed by the Chinese Partnership. Natcore China will have the exclusive right to develop, manufacture and sell AR film-growth equipment in China, and a three-year exclusive right to manufacture such equipment for sale outside of China. Natcore stock popped 35% to 58 cents.
Shares of Sirit Inc. (TSX: T.SI , Stock Forum) powered 42% higher to 42.5 cents after the provider of radio frequency identification technology said Federal Signal (NYSE: FSS, Stock Forum) has increase its offer for Sirit to 43 cents a share in cash, from its previous offer of 30 cents a share.
And, Ecometals (TSX: V.EC, Stock Forum) Monday reported that drill hole RZDDH10-02 has intercepted what the company called “a significant intersection of porphyry-epithermal style mineralization” at its Rio Zarza Gold Project in Ecuador. This hole has encountered in excess of a 50 metre intersection of a strong zone of mineralization with epithermal characteristics starting at a 330 metre depth. Sulphide mineralization is dominated by pyrite-marcasite with minor chalcopyrite, which occurs as veinlets, blebs, and breccia matrix filling and comprises an estimated 2% to 5% of rock the volume over parts of the intersection. Its shares surged 87% to $1.12.
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