Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, September 30, 2010
TORONTO (SHfn) – Beaufield Resources (TSX: V.BFD, Stock Forum) shares powered 240% higher to 68 cents on Thursday after the micro cap miner reported results from the recently completed, four holes totaling 2529 metres, drilling program on its 100% owned Tortigny Copper-Zinc-Silver deposit in Quebec, which included 4.20% zinc, 2.72% copper, 0.19% lead, 500.93 grams per tonne (g/t) cobalt, 72.02 g/t silver and 0.53 g/t gold over 322.15 metres.
As well, shares of Zincore Metals (TSX: T.ZNC, Stock Forum) rose 15% to 35.5 cents as the junior explorer announced that it has discovered a large copper-gold porphyry with surface values of up to 2.3% copper and one gram/tonne gold in chip samples at its Dolores property in Peru.
Alexis Minerals (TSX: T.AMC, Stock Forum), meanwhile, said it has entered into a Letter of Engagement with Legend Securities Inc., a New York based broker-dealer, in respect of project financing for the company's Snow Lake Gold Mine in Manitoba. It is proposed that the project financing will be in the form of a facility of up to $60 million to provide project financing in two tranches: $45 million for anticipated capital costs to develop and refurbish the Snow Lake Mine during the 12-month period following a positive production decision; and an additional $15 million working capital draw down facility. Alexis stock popped 32% to 25 cents.
Shares of SLAM Exploration (TSX: V.SXL, Stock Forum) jumped 35% to 17.5 cents after the explorer announced that one of its major shareholders, Pinetree Capital (TSX: T.PNP, Stock Forum), has acquired ownership of an additional five million common shares and five million common share purchase warrants through participation in the private placement announced by SLAM in a news release on September 23, 2010. Pinetree reports it now holds 17% of SLAM shares on a partially diluted basis.
And, Advanced Explorations (TSX: V.AXI , Stock Forum) Thursday reported that it has entered into an agreement with Shandong Fulun Steel Company. The agreement sets out initial terms for a private placement of $2.8 million and a framework for mutual cooperation in the potential development of AEI's other iron projects not pursued by its strategic partner, XinXing Pipes Group Ltd. Fulun Steel has agreed to subscribe for seven million units issued by AEI at a price of 40 cents per unit. Advanced shares climbed 20% to 45 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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