Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, September 8, 2010
TORONTO (SHfn) – Northern Tiger Resources (TSX: V.NTR, Stock Forum) shares jumped 44% to 39 cents on Wednesday after the micro cap explorer announced that a chip sampling program on the 3Ace Property in the Yukon continues to demonstrate what the company called "the high-grade nature of the gold mineralization in the Main Zone." Northern Tiger is planning a minimum six-hole (1,000 metre) diamond drilling program to follow-up on a 2010 surface exploration program. "High-grade gold mineralization" has been identified in three other separate zones (Sleeping Giant, Green Zone and North Zone) on the property in addition to the Main Zone.
As well, shares of Channel Resources (TSX: V.CHU, Stock Forum) shot up 54% to 18.5 cents as the junior miner reported the second set of drilling results from a Phase I Reverse Circulation drilling program on the Tanlouka Gold Project in Burkina Faso, West Africa, which included 38 metres grading 3.09 grams per tonne (g/t) gold.
Bronco Energy (TSX: T.BCF, Stock Forum) shares gained 15% to 19.5 cents after the oil and gas explorer/developer announced that Legacy Oil + Gas Inc. (TSX: T.LEG, Stock Forum) will acquire all of the issued and outstanding common shares of Bronco. Bronco shareholders will receive 0.0182 of a Legacy common share for each Bronco common share held.
Sacre-Coeur Minerals (TSX: V.SCM, Stock Forum), meanwhile, said it has received a written non-binding proposal for the acquisition of the company by a large international mining entity. Sacre-Coeur stock popped 28% to $1.15.
Shares of U.S. Geothermal (TSX: T.GTH, Stock Forum) climbed 15% to 92 cents after the renewable energy firm announced that it has entered into a strategic and financial partnership with Enbridge (U.S.) Inc. The partnership involves Enbridge investing up to US$23.8 million in the 35 megawatt Neal Hot Springs geothermal project in Oregon.
And Revolution Resources (TSX: T.RV, Stock Forum), formerly Nuukfjord Gold (TSX: T.NUU), Wednesday said it has acquired multiple gold properties in North Carolina. The prospects are located on private land with a 2,500 meter Phase I drill program slated to begin within 30 days. Revolution shares powered 20% higher to 38.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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