Junior miner jumps on gold results

Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, June 16, 2010

TORONTO (SHfn) – Fire River Gold (TSX: V.FAU, Stock Forum) shares surged 27% to 54 cents on Wednesday after the micro cap miner reported assay results from the ongoing re-evaluation program on its Nixon Fork Gold Mine Project in Alaska, which included 27 grams per tonne (g/t) gold over 24.0 metres.

As well, shares of Sceptre Investment Counsel (TSX: T.SZ, Stock Forum) gained 29% to $6.70 as the investment management firm announced that it has signed a definitive agreement to merge with Fiera Capital, Inc. The new company will be named Fiera Sceptre and have $30 billion in assets under management. Under the agreement, Sceptre shareholders will exchange 14.0 million common shares for 14.0 million new Class A subordinate voting shares of Fiera Sceptre on a 1-for-1 basis. After closing, Fiera will control approximately 60% of the outstanding shares of Fiera Sceptre.

SNS Silver (TSX: V.SNS, Stock Forum), meanwhile, said it has received additional assay results from first part of a phase 1 diamond drilling program on the Emerald Lake Property located 65 km northeast of Sudbury, Ontario, which included three feet of 9.58 g/t gold. SNS stock slid 20% to 10 cents.

Shares of Blue Sky Uranium (TSX: V.BSK, Stock Forum) jumped 12% to 28 cents after the junior explorer announced further results from aircore drilling on its ANIT uranium-vanadium project in Rio Negro Province, Argentina, which included one hole that averaged 10 meters at 0.036% U3O8 and 0.045% V2O5.

And, New Island Resources (TSX: V.NIS, Stock Forum) Wednesday reported that on June 11, 2010, Anaconda Mining (TSX: T.ANX , Stock Forum) said it has begun an unsolicited offer to acquire all of the outstanding shares New Island in consideration for one share of Anaconda for each three shares in New Island. New Island shares added as much as17% at 10.5 cents.

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