Stockhouse Canadian Small and Micro-cap Stock Report for Friday, August 20, 2010
TORONTO (SHfn) – Aura Silver Resources (TSX: V.AUU, Stock Forum) shares climbed 18% to 20 cents on Friday after the micro cap explorer reported preliminary results of drilling and prospecting on its Greyhound (Nunavut) property. The company said surface samples recently collected indicate that there is at least a 500 meter long zone extending south from the original gold showing (which contains 28 grams per tonne) that contains similar-style alteration and sulfide content to the south of Aura Lake.
As well, shares of Commerce Resources (TSX: V.CCE, Stock Forum) gained as much as 13% to 43 cents as the junior miner reported that the results from the first hole of the 2010 drilling program at the Eldor Project in Quebec included 1.72% Total Rare Earth Oxides (TREO) over 215.30 metres.
Auryx Gold (TSX: T.AYX, Stock Forum), meanwhile, reported the addition of David Hodgson to its Board of Directors. From November 2001 through to his retirement in April 2005, Mr. Hodgson served as the Chief Operating Officer of Anglogold Ashanti. Auryx stock popped 31% to 68 cents.
And, Khan Resources (TSX: T.KRI, Stock Forum) Friday said it has filed a statement of claim against Atomredmetzoloto JSC (ARMZ) and its affiliate JSC Priargunsky Industry Mining and Chemical Union (JSC PIMCU) with the Ontario Superior Court of Justice. The claim has been brought by Khan and certain of its subsidiaries, and seeks damages from ARMZ and its affiliate in the total amount of $300 million, including equitable compensation resulting from their breach of fiduciary duties as one of Khan's joint venture partners and a shareholder of Central Asian Uranium Company, LLC (CAUC), general damages resulting from their unlawful interference with the plaintiffs' economic relations, general damages resulting from their deliberately causing damage to Khan's and its subsidiaries' rights, business reputation and property and aggravated, exemplary and punitive damages. Khan shares jumped 14% to 32.5 cents.
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