Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, September 16, 2010
TORONTO (SHfn) – Pelangio Exploration (TSX: V.PX, Stock Forum) shares powered 27% higher to 62 cents on Thursday after the micro cap miner reported drill results from the first two holes totaling 186 metres on the Pokukrom West prospect at the Manfo Property in Ghana, which included 8.6 grams per tonne (g/t) gold over 12 metres.
As well, shares of Wolverine Minerals (TSX: V.WLV, Stock Forum) rose 67% to 38.5 cents as the junior explorer said it has entered into a binding letter agreement with Strategic Metals (TSX: V.SMD, Stock Forum), whereby Strategic has agreed to grant Wolverine the right to earn a 100% interest in 21 of Strategic's Yukon gold prospects covering more than 325 square kilometers.
CIC Energy (TSX: T.ELC, Stock Forum), meanwhile, announced that it has received an indicative takeover proposal from a multi-billion dollar Indian conglomerate with interests that include coal mining and power generation. The offer price is reported to be US$8.50 per share, of which up to $3.50 will be payable upon fulfillment of certain project milestones. CIC stock popped 82% to $5.90.
Shares of Alter NRG (TSX: T.NRG, Stock Forum) shot up 19% to $1.62 after the alternative energy solutions provider reported that Geoplasma - St. Lucie, LLC has received its final Air Construction Permit for a planned 24 megawatt energy from waste project in St. Lucie County, Florida. Alter NRG added that Geoplasma has now engaged it for approximately US$300,000 in engineering support and other services related to this project, which is expected to lead to further engineering and an approximate US$25 million plasma gasification equipment order upon successful development.
Crown Gold (TSX: V.CWM, Stock Forum) shares added 44% at 11.5 cents after the explorer announced assays from recent channel sampling of a quartz vein on its McKenzie Island property at Red Lake in northwestern Ontario. Individual channel samples on two segments of the vein assayed up to 122 g/t gold (3.57 ounces/ton) over 0.5 metres with most samples (8 out of 14) returning assays greater than 8 g/t gold.
And, Orsu Metals (TSX: T.OSU, Stock Forum) Thursday said it has begun a definitive feasibility study for its Karchiga volcanogenic massive sulphide copper project in Kazakhstan. Orsu shares jumped 13% to 22 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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