Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, August 18, 2010
TORONTO (SHfn) – Photon Control Inc. (TSX: V.PHO, Stock Forum) jumped 69% to 13.5 cents Wednesday after releasing its financial results for the second quarter ended June 30, 2010. A developer of photonic sensors, the company said product sales in the second quarter rose to $3.9 million, compared to $700,000 in the same period last year. Photon said it recorded its fourth profitable quarter in a row, posting earnings of just over $1 million, compared to a loss of $191,064 in the equivalent 2009 quarter.
Greenlight Resources Inc. (TSX: V.GR, Stock Forum) was up 22% to 33.5 cents. The junior said drilling has started on its Brazil Lake lithium and rare metals property in Nova Scotia. The company is gearing up for a 2,500-metre program to follow-up on earlier drill programs, which uncovered two lithium-bearing pegmatite dikes, which host several other rare metals. The 3,160-acre property is located about 30 kilometres north of Yarmouth.
Meanwhile, Yukon-Nevada Gold Corp. (TSX: T.YNG, Stock Forum) rose 16% to 59 cents after the company said it has intersected more gold mineralization while drilling on its Ketza River project near Ross River, Yukon. The latest results are from the Bluff Zone, which is located in the vicinity of two proposed open pits. Highlights include 2.42 metres, averging 20.8 grams of gold per tonne in one drill hole, and 3.24 metres of 12.2 grams per tonne gold in another. The company said it is awaiting results from additional holes.
Finally, Kootenay Gold Inc. (TSX: V.KTN, Stock Forum) gained 4% to 46 cents after releasing a resource estimate for the Pit Discovery Zone at its Promontorio silver-lead-zinc property in Sonora, Mexico. The estimate comprises an indicated resource of 5.22 million tonnes, averaging 52.7 grams of silver per tonne, 0.86% lead, and 0.96% zinc, containing 8.9 million ounces of silver, 99.3 million pounds of lead, and 110.8 million pounds of zinc. The company is proceeding with a $1.5 million drill program to expand the Pit Zone resource, while testing other targets nearby.
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