Stockhouse Canadian Small and Micro-cap Stock Report for Friday, April 9, 2010
TORONTO (SHfn) – East Asia Minerals (TSX: V.EAS, Stock Forum) shares climbed 20% to $7.56 on Friday after the gold miner reported that drilling has extended the Miwah Main Zone towards Moon River at the Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia, which encountered 3.96 grams per tonne (g/t) gold over 111 metres, including 15.74 g/t gold over 22 metres.
As well, shares of Golden Queen Mining (TSX: T.GQM, Stock Forum) shot up 26% to $1.20 as the junior miner announced that on April 8, 2010, the Kern County Planning Commission formally considered the company's Soledad Mountain gold/silver project in southern California following a review and comment period for the Supplemental Environmental Impact Report (SEIR), and unanimously approved the project. The project remains subject to Golden Queen addressing various outstanding items that the company is reviewing associated with the Conditional Use Permit.
Rye Patch Gold (TSX: V.RPM, Stock Forum), meanwhile, reported that it received notice that Homestake Mining Company of California has exercised its pre-emptive right to acquire from Centerra Gold (U.S.) Inc., all of Centerra's participating interest in the Ren joint venture property. Rye Patch Gold had entered into an agreement to purchase the Centerra Interest conditional upon Homestake's waiver of its pre-emptive right. As a result of Homestake's election to purchase the Centerra Interest, Rye Patch Gold's agreement with Centerra will terminate and Rye Patch Gold is entitled to receive a break fee of US$250,000 from Centerra upon completion of Homestake's acquisition of the Centerra Interest. Rye Patch stock sank 29% to 24 cents.
And, Newcastle Minerals (TSX: V.NCM, Stock Forum) Friday said it has received the data from its recently completed geophysical survey of its 120-hectare Carscallen project, located 21 kilometres southwest of Timmins, Ontario, which indicates the presence of several strong, well-defined induced polarization and linear magnetic anomalies. Its shares jumped 14% to 12 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
To read more articles by Sean Mason please click here