Stockhouse Canadian Small and Micro-cap Stock Report for Friday, June 11, 2010
TORONTO (SHfn) – New Island Resources (TSX: V.NIS, Stock Forum) shares climbed 43% to 10 cents on Friday after Anaconda Mining (TSX: T.ANX, Stock Forum) announced that it has formally begun a share exchange takeover bid to acquire all of the issued and outstanding common shares of New Island. Pursuant to the offer, each New Island shareholder will receive 0.3333 of an Anaconda common share for each New Island common share tendered under the offer, valuing New Island at 10.83 cents a share.
As well, shares of Angiotech Pharmaceuticals (TSX: T.ANP, Stock Forum) shot up 18% to 97 cents as the specialty pharmaceutical and medical device company said that Cook Medical, a license holder of Angiotech's paclitaxel technology, has submitted its Pre-Market Approval (PMA) application to the U.S. Food and Drug Administration (FDA) for the company's polymer-free Zilver PTX Drug-Eluting Peripheral Stent. Intended for use in patients with peripheral arterial disease (PAD) in the superficial femoral artery (SFA), Zilver PTX is a self-expanding nitinol stent that uses a proprietary, polymer-free technology to deliver a locally therapeutic dose of paclitaxel, an anti-proliferative drug, to the target lesion.
COM DEV International (TSX: T.CDV, Stock Forum), meanwhile, reported second-quarter revenue of $60.4 million, down from $64.1 million during the same period last year. Net income for the quarter was $4.1 million, or five cents a share, compared with $4.9 million, or seven cents a share, during Q2 2009. COM DEV stock dropped 19% to $1.89.
And, Bayswater Uranium (TSX: V.BYU, Stock Forum) late Thursday announced that Otis Gold (TSX: V.OOO, Stock Forum) has started a 6,000-metre, 30-core hole drilling program at Bayswater's Kilgore Gold Project in Idaho, in which Otis can earn up to a 75% interest. Drilling will be on-going throughout the entire 2010 field season, with program completion slated for early December. Bayswater shares jumped 21% to 49 cents.
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