Stockhouse Canadian Small and Micro-cap Stock Report for Friday, March 19, 2010
TORONTO (SHfn) – Noront Resources (TSX: V.NOT, Stock Forum) shares jumped as much as 11% to $1.57 on Friday after the explorer reported that the logistics halt which, had been implemented at Koper Lake has ended, effective Friday, March 19 at 8:00 am. Noront will immediately begin the process of flying in fuel, drills and other material to Koper Lake with a view to resuming exploration as soon as possible.
As well, units of Sterling Shoes Income Fund (TSX: T.SSI.UN, Stock Forum) shot up 29% to $1.98 as the footwear retailer said its net bank debt improved to $0.9 million at December 31, 2009 from $11.8 million at September 30, 2009. Fourth-quarter sales were $41.2 million compared with $42.5 million during the same period last year. Gross margin increased to 56.3% of sales in fourth quarter 2009, compared to 56.0% last year, while adjusted EBITDA rose to $8.1 million, or 19.8% of sales, in fourth-quarter 2009 compared to $7.8 million, or 18.3% of sales, in 2008.
Xtreme Coil Drilling (TSX: T.XDC, Stock Forum), meanwhile, reported that it received notification on March 17, 2010, from the company's customer, a global integrated oilfield services company, with respect to their operations in the Chicontepec development project in the United Mexican States. The services company advised it has received operator notification that there is no remaining budget for expenditures relating to contracted work in ATG I & II and, therefore, the operator does not expect to drill the total number of wells initially planned for these projects. Xtreme Coil stock dropped 26% to $3.90.
Shares of RockBridge Energy (TSX: V.RBE, Stock Forum) jumped 25% to 15 cents after the micro cap explorer said it is proceeding with its planned 2010 operations for its Cross Hills Rare Metals and Rare Earths Property in Newfoundland. The Cross Hills property consists of 100% ownership of 27 claims covering an area of approx. 675 hectares north of Fortune Bay in southern part of the province.
And, Platinex (TSX: V.PTX, Stock Forum) late Thursday announced that it has received notification from the Mining Commissioner that the Pending Proceedings Order, on most of its claims in the Province of Ontario, has now been removed and the intervening time has been excluded on all affected claims. Platinex has six Platinum Group Elements (PGE)-nickel-copper properties in Ontario, including two in the Ring of Fire region. Its shares moved up 32% to 14.5 cents on Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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