Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 7, 2011
TORONTO (SHfn) – Brookemont Capital (TSX: V.BKT, Stock Forum) shares surged 20% to 35.5 cents on Friday after the micro cap explorer said it has been notified by the operator that the work program on its Handeni North Gold Prospect in Tanzania has now begun.
As well, shares of Royal Coal (TSX: V.RDA, Stock Forum) rose 20% to 30.5 cents as the coal exploration and production company announced that Sandstorm Metals & Energy has advanced US$2 million of the US$11 million total upfront coal purchase payment committed to Royal Coal. In accordance with the coal purchase agreement, the remaining US$9 million will be remitted upon completion of certain funding conditions, which is expected by February 2011.
Novadx Ventures (TSX: V.NDX, Stock Forum), meanwhile, reported that its wholly-owned subsidiary, MCoal Corporation, has received the initial US$5 million advance payment under the definitive Coal Production Payment Agreement with Sandstorm Metals & Energy previously announced on Nov. 26, 2010. This first payment entitles Sandstorm to receive a life of mine coal stream consisting of 8.5% of the metallurgical coal surface mined from MCoal's Rosa Mine for a fixed price of US$75 per ton. Novadx stock popped 10% to 45 cents.
And, Insignia Energy (TSX: T.ISN, Stock Forum) late Thursday provided an operational update and confirmed the achievement of its 2010 exit production rate guidance of 3,300 boe/d. Insignia shares added 10% at $1.90 on Friday.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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