Stockhouse Canadian Small and Micro-cap Stock Report for Monday, August 23, 2010
TORONTO (SHfn) – Radius Gold (TSX: V.RDU, Stock Forum) shares climbed 34% to 55 cents on Monday after the micro cap miner provided an update on progress at its Sixty Mile property in the Yukon Territory. Soil sampling has defined a strong gold-in-soil anomaly on the southeastern bank of the Sixty Mile river valley. The anomaly, which measures 800 metres by 300 metres and is open in all directions, is defined by “strongly anomalous gold values” associated with andesitic volcanic rocks and an epithermal geochemical signature. Grab samples of the limited bedrock outcrops in the area have returned values from trace up to five grams per tonne gold.
As well, shares of Sustainable Energy Technologies (TSX: V.STG, Stock Forum) added 13% at 17.5 cents as the manufacturer of solar inverters announced that, subject to regulatory approval, Doughty Hanson Technology Ventures has committed to provide up to $3 million in new equity to the company over the next six months to meet working capital needs as they arise.
Excellon Resources (TSX: T.EXN, Stock Forum), meanwhile, said it has temporarily suspended production at the Platosa Mine in Mexico while it seals a large water-bearing fissure encountered during routine operations on August 18. Excellon stock slid 11% to 74 cents.
And, Shoreham Resources (TSX: V.SMH, Stock Forum) Monday reported that it has entered into a non-binding letter of intent in which it intends to complete the acquisition of 100% of the issued and outstanding common shares of Infinito Gold's (TSX: V.IG, Stock Forum) subsidiaries in Guyana and Aruba, which hold 100% interests in the Marudi Mountain, Paint Mountain and Potaro gold mineral concessions. Shoreham shares moved up as much as 11% to 15 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
To read more articles by Sean Mason please click here