Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, June 1, 2010
TORONTO (SHfn) – Anaconda Mining (TSX: T.ANX, Stock Forum) shares jumped 16% to 32 cents on Tuesday after the micro cap miner reported that it has entered into an agreement to acquire interests in two iron exploration portfolios from a private Chilean company, Inversiones SBX Limitada. The exploration properties are located in north central Chile, within the Chile-Peru iron ore belt and include the Vetarron magnetite deposit and the Antonio property concessions, totaling 4,300 hectares.
As well, shares of WesternZagros Resources (TSX: V.WZR, Stock Forum) moved up 10% to 33 cents as the oil and gas explorer/developer said it has successfully and safely secured the Kurdamir-1 well in the Kurdistan Region of Iraq, following the loss of well control reported on May 15, 2010. The risk of the damaged drill pipe failing and releasing hydrocarbons or hydrogen sulphide (H2S) at the surface has been eliminated.
Northern Abitibi Mining (TSX: V.NAI, Stock Forum), meanwhile, reported results from preliminary metallurgical test work on mineralized drill core from the Viking gold project in Newfoundland. Highlights from the test work include gold recovery of 97%, which was achieved by cyanide leaching of a 59 micron grind size. Northern Abitibi stock popped 23% to 34.5 cents.
And, Cymat Technologies (TSX: T.CYM, Stock Forum) Tuesday announced that its SmartMetal has been selected for use in vehicle programs produced by a major Middle East-based OEM of light-armored vehicles. Cymat's SmartMetal will be integrated into a number of survivability solutions for vehicle underbelly protection. Its shares climbed 15% to 30 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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