Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, April 6, 2010
TORONTO (SHfn) – Gold Canyon Resources (TSX: V.GCU, Stock Forum) shares jumped 61% to 45 cents on Tuesday after the micro cap explorer reported results for the first two drill holes of its Winter Drill Program 2010 at its 100% controlled Springpole Gold Project located in the Red Lake Mining District of Ontario, which included 3.30 grams per tonne (g/t) gold over 64.0 meters.
As well, shares of Melkior Resources (TSX: V.MKR, Stock Forum) moved up 23% to 27 cents as the junior miner provided an update on the ongoing 20,000 metre diamond drill program on its 100% owned Carscallen Gold property near Timmins, Ontario, which included 2.50 metres of 5.84 g/t gold.
Crowflight Minerals (TSX: T.CML, Stock Forum), meanwhile, said it has received an offer letter from Jinchuan Group Ltd. to acquire all of the common shares of Crowflight in consideration for an aggregate cash payment of $150 million, or about 26 cents per common share. Crowflight stock popped 29% to 22 cents.
Shares of OSI Geospatial (TSX: T.OSI, Stock Forum) added as much as 13% at 18 cents after the geospatial systems and software provider announced that its mapping operations have signed contracts valued at approximately $3.8 million. The company expects to recognize the revenue from these contracts within the next 12 months.
And, Century Mining (TSX: V.CMM, Stock Forum) Tuesday said it is fully financed for the reopening of its 100% owned Lamaque gold project located in Val-d'Or, Quebec, and is on schedule and budget for its first gold pour in the second quarter of 2010. Its shares surged 12% to 47.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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