Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 11, 2010
TORONTO (SHfn) – Orsu Metals (TSX: T.OSU, Stock Forum) shares powered 20% higher to 30 cents on Thursday after the micro cap explorer reported results of a scoping study for the Tadybulak Gold-Copper-Molybdenum Porphyry Deposit at its Talas joint venture project in the Kyrgyz Republic. The Taldybulak Scoping Study establishes key design criteria for an open pit mine scenario with a 15 million tonnes per annum (Mtpa) processing facility for average annual recovery of 242,000 ounces gold and 137,600 dry metric tonnes (dmt) of copper concentrate and 1,880 dmt of molybdenum concentrate via conventional communition and floatation process flow sheets at estimated initial capital expenditures of approximately US$516 million.
As well, shares of Prophecy Resource (TSX: V.PCY, Stock Forum) rose 16% to 95 cents as the junior miner announced that on November 9, it received the final permit to begin mining operations at its Ulaan Ovoo coal mining project in Mongolia.
Blue Note Mining (TSX: V.BNT, Stock Forum) and First Gold Exploration (TSX: V.EFG, Stock Forum), meanwhile, reported results from the last three holes of the seven hole diamond drill program undertaken to test extensions of the underground Mineral Reserves at the Croinor Gold Project in Quebec, which included 29.80 grams per tonne (g/t) gold over 5.7 meters. Blue Note stock popped 11% to 15.5 cents.
And, Falcon Oil & Gas (TSX: V.FO, Stock Forum) Thursday said it has received and accepted the resignation of Marc. A. Bruner from his positions as President, CEO and a Director of the company. The resignations will be effective immediately. Mr. Robert C. Macaulay (P Eng), currently a director of the company, will be filling the positions of President and CEO while the board considers the need for a full-time replacement. Mr. Macaulay has 26 years of experience in the upstream oil and gas sector with a focus on petroleum engineering, field development planning and business development. Falcon shares surged 21% to 14.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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