Stockhouse Canadian Small and Micro-cap Stock Report for Monday, June 14, 2010
TORONTO (SHfn) – Unigold (TSX: V.UGD, Stock Forum) shares climbed as much as 15% to 27 cents on Monday after the micro cap miner reported the discovery of a new gold zone on its wholly-owned Neita Property in the Dominican Republic, which included 2.3 grams per tonne (g/t) gold over 27 meters.
As well, shares of Stealth Ventures (TSX: V.SLV, Stock Forum) shot up 33% to 12 cents as the oil and gas explorer said it has entered into a Joint Study Agreement (JSA) with India’s Oil and Natural Gas Corporation Ltd. (ONGC) to evaluate emerging unconventional resource plays and opportunities in India. The objective of the JSA is to identify the unconventional resource plays within India, and a high priority has been given by both parties, to identify high-growth profile shale gas and CBM prospects, on the basis of the large database available within ONGC. Work is expected to begin by June 30, 2010.
Avalon Rare Metals (TSX: T.AVL, Stock Forum), meanwhile, reported results of a revised 43-101-compliant resource estimate for the Nechalacho Rare Earth Element deposit in the Northwest Territories. Inferred Mineral Resources for both Basal and Upper Zones now total 175.93 million tonnes averaging 1.43% TREO (Total Rare Earth Oxides), representing 2.5 million tonnes of contained TREO. This amounts to a 100% increase in contained TREO from the previously reported estimate (January 14, 2010). Avalon stock popped 11% to $2.27.
And, Woulfe Mining (TSX: V.WOF, Stock Forum) Monday announced that it has commissioned Wardrop, a Tetra Tech Company to complete an NI 43-101 compliant Bankable Feasibility Study on its Sangdong Tungsten - Molybdenum deposit in South Korea. Its shares added 17% at 10.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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