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Canadian small/micro-cap weekend roundup

Stockhouse Editorial
0 Comments| May 22, 2010

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On Monday, Crew Gold (TSX: T.CRU, Stock Forum) shares climbed 12% to 32.5 cents after the junior miner said gold production at LEFA in Q1 2010 was 57,930 ounces, up 30% from 44,606 ounces produced in Q1 2009, while its first-quarter net profit (including discontinued operations) was $9.8 million, compared with a net loss of $11.9 million during the same period last year.

As well, shares of Miraculins (TSX: V.MOM, Stock Forum) shot up 20% to 12 cents as medical diagnostic firm updated the market on its preeclampsia program by announcing the development of an ultrasensitive assay for the detection of soluble endoglin (sEng). The test has been optimized for serum and urine in the widely utilized ELISA format.

In Tuesday trading, Bolero Resources (TSX: V.BRU, Stock Forum) shares jumped 12% to 23.5 cents after the micro cap explorer reported that work has now begun on the "Carbonatite Syndicate Rare Earth Claim Group," 80 km northeast of Prince George, British Columbia. Mackevoy Geosciences have established a base camp just East of Spectrum Mining's "Wicheeda" Rare Earth discovery, that recently returned grades of 3.55% rare earth elements over 48.64 metres.

Also, shares of Blackline GPS (TSX: V.BLN, Stock Forum) moved up 62% to 10.5 cents as the provider of solutions for tracking and security products announced that, following the successful conclusion of an extensive pilot program, FedEx Auto Transport has selected Blackline's signature GPS service to deliver a freight tracking and logistics solution. The benefits of this arrangement for FedEx Auto Transport will be “a decrease in operation costs while providing the latest available anti-theft fleet protection.”

Wednesday’s market action saw shares of Houston Lake Mining (TSX: V.HLM, Stock Forum) surge 21% to 17.5 cents after the micro cap miner reported results from an additional four holes of a 4,900 metre, Phase IV diamond drill program on its 100% optioned Dubenski Property near Kenora, Ontario, which included 32.82 grams per tonne (g/t) gold over 0.95 metres.

In addition, shares of American Manganese (TSX: V.AMY, Stock Forum) gained 14% to 32 cents as the junior miner announced that it has received results for drill holes 1 through 37 from its on-going Artillery Peak drilling program in Arizona, which included 9.15 meters of manganese grading 10%.

On Thursday, High Desert Gold (TSX: V.HDG, Stock Forum) shares powered 31% higher to 19 cents after the micro cap explorer reported preliminary exploration results at its gold-silver San Antonio Project in Mexico, which included values of up 2.13 metres of 44.1 grams per tonne (g/t) gold and 160 g/t silver.

As well, shares of Vuzix Corporation (TSX: V.VZX, Stock Forum) added 24% to 13 cents as the manufacturer of Video Eyewear said it has received a new $500,000 order from Coastal Defense, Inc. for Vuzix’s Tac-Eye LT Display System for delivery within the next four months.

And, in Friday trading, Khan Resources (TSX: T.KRI, Stock Forum) said it was informed today by CNNC Overseas Uranium Holding Ltd., a wholly-owned private subsidiary of China National Nuclear Corporation, China's state-owned leading uranium development and nuclear fuel company, that it has failed to obtain regulatory approval for its offer to acquire all of the common shares of Khan at 96 cents per share in cash and, accordingly, will allow its offer to expire. Khan stock plunged 55% to 23 cents.



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