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Junior miner soars on gold results

Sean Mason Sean Mason, Freelance
0 Comments| December 3, 2010

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Stockhouse Canadian Small and Micro-cap Stock Report for Friday, December 3, 2010

TORONTO (SHfn) – Seafield Resources (TSX: V.SFF, Stock Forum) shares rocketed 148% higher to 57 cents on Friday after the micro cap miner reported assay results from the first three drill holes at its Miraflores property at the Quinchia Gold project in Colombia, which included 449 metres grading 1.29 grams per tonne (g/t) gold, including 23.95 metres grading 9.18 g/t gold.

As well, shares of Columbus Gold (TSX: V.CGT, Stock Forum) rose 83% to 52 cents as the junior explorer said it has entered into a definitive option agreement to acquire the Paul Isnard gold project in French Guiana, which includes the two million ounce Montagne D'Or gold deposit.

Moly Mines (TSX: T.MOL, Stock Forum), meanwhile, announced that the immediate parent entity of Hanlong Mining Investment Pty Ltd has received the key Chinese government approval in the process toward completing the financing for the Spinifex Ridge Molybdenum/Copper Project. The National Development and Reform Commission of the People's Republic of China has confirmed its permission for Chinese funding to be allocated to the development and construction of the 10 million tonne per annum project. Moly Mines stock popped 12% to $1.03.

Shares of Aurcana (TSX: V.AUN, Stock Forum) surged 15% to 60 cents after the silver junior reported its third-quarter financial and operating results, which included a 72% increase in earnings from mining operations to $3,007,888 from $1,750,338 during the same period last year.

And, CO(2) Solution (TSX: V.CST, Stock Forum) Friday reported it has entered into an exclusive Collaboration Agreement covering the development and pilot scale testing of its carbon capture technology to reduce carbon dioxide pollution from coal-fired power plants, one of the world's largest sources of greenhouse gas emissions. CO(2) Solution will receive up to US$3.4 million for its activities under the Collaboration Agreement. CO(2) Solution shares climbed 23% to 19 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



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