Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, July 8, 2010
TORONTO (SHfn) – Tasman Metals (TSX: V.TSM, Stock Forum) shares powered as much as 16% higher to 64 cents on Thursday after the micro cap explorer reported assay results from a further five drill holes at its 100% owned Norra Karr rare earth element (REE) - zirconium (Zr) project in Sweden, which included 43.7 metres at 0.70% TREO (total rare earth oxide), 1.7% ZrO(2) (zirconium oxide), with 48.3% of the TREO being HREO (heavy rare earth oxide).
As well, shares of 01 Communique Laboratory (TSX: T.ONE, Stock Forum) moved up 77% to 39 cents as the integrated communications software provider announced that prosecution of the inter partes reexamination of its United States Patent No. 6,928,479 is now closed. The United States Patent and Trademark Office has issued a Right of Appeal Notice concluding that all of the claims in the inter partes re-examination, that were challenged by Citrix Systems, Inc., are patentable.
DragonWave (TSX: T.DWI, Stock Forum), meanwhile, reported first-quarter revenue of $48.7 million, up 275% versus $13.0 million in Q1 FY2010, while net income for the period was $9.7 million, or 26 cents per diluted share, compared with a net loss of $2.4 million, or eight cents per diluted share, in the first quarter of 2010. Its results beat earnings estimates, but missed on revenue and the company lowered expectations for future revenues. DragonWave stock dropped 15% to $4.95.
Shares of Bennett Environmental (TSX: T.BEV, Stock Forum) jumped 14% to $2.07 after the company said it has entered into a contract to remove and treat approximately 10,500 tonnes of PCB contaminated soil located in southern Ontario.
And, American Creek Resources (TSX: V.AMK, Stock Forum) Thursday announced assay results from selected rock chip samples on the Electrum Property in British Columbia. A chip sample of 694 grams per tonne (g/t) gold and 550 g/t silver was obtained along a gold-bearing system of closely spaced epithermal breccia-veins exposed on surface in continuous outcrop for over 50 meters. Its shares climbed 30% to 13 cents.
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