Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 4, 2011
TORONTO (SHfn) – Pele Mountain Resources (TSX: V.GEM, Stock Forum) shares climbed 46% to 47.5 cents on Tuesday after the micro cap explorer/developer said it expects to release an updated NI 43-101 resource estimate for its 100% owned Eco Ridge Mine Uranium and Rare Earth Elements Project in Elliot Lake, Ontario, which will include both uranium and Rare Earth Oxides (REO) for the first time.
As well, shares of Groundstar Resources (TSX: V.GSA, Stock Forum) shot up 26% to 56 cents as the oil and gas explorer announced the spud of the West Kom Ombo - 1 exploration well on the West Kom Ombo block in Egypt. This is the first exploration well of two firm commitment wells and two additional optional wells with a capital expenditure of up to US$30 million gross. Groundstar is carried for a 10% net interest through the exploration drilling stage.
Allon Therapeutics (TSX: T.NPC, Stock Forum), meanwhile, reported that it has reached agreement with the United States Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for a pivotal Phase 2/3 clinical trial to evaluate the company's lead neuroprotective drug candidate, davunetide, as a potential treatment for progressive supranuclear palsy (PSP), a rapidly-progressing and fatal degenerative brain disease. Allon stock popped 24% to 47 cents.
And, Intrinsyc Software International (TSX: T.ICS, Stock Forum) Tuesday announced a software license agreement with Sierra Wireless for RapidRIL telephony technology. Intrinsyc shares added as much as 33% at 10 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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