Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, March 30, 2011
TORONTO (SHfn) – Sea Dragon Energy (TSX: V.SDX, Stock Forum) shares surged as much as 14% to 24 cents on Wednesday after the oil and gas producer/explorer reported its 2010 annual and fourth-quarter financial and operating results, which included a jump in proved plus probable reserves by 382% to 8.2 million boe from 1.7 million boe in 2009.
As well, shares of Noveko International (TSX: T.EKO, Stock Forum) gained 20% to 39 cents as the provider of solutions in the environmental and medical fields announced that advances have been achieved in its various air filtration related segments in the U.S., European and Asian real estate markets and in the Montreal area, where a growing portfolio of buildings are equipped with Noveko filters, as well as in the transportation industry and the swine industry.
Elissa Resources (TSX: V.ELI, Stock Forum), meanwhile, said it is planning to conduct a ground geophysical (magnetic) survey on specific sections of its 100% owned Thor Rare Earth Elements (REE) Project in Nevada. Elissa has identified what it calls “significant” REE mineralization at Thor in nine widely separate prospect localities in three distinct discovery zones referred to as the Lopez Trend, the Black Butte area and the NED area. Elissa stock popped 85% to 48 cents.
And, REBgold (TSX: V.RBG, Stock Forum) Wednesday referred interested parties to Belvedere Resources’ (TSX: V.BEL, Stock Forum) drill results from the first seven holes of a 5,000 meter program of resource delineation drilling at Belvedere's Rantasalmi gold property in Finland, which included six metres of 11.1 grams per tonne (g/t) gold. REBgold and Belvedere have entered into a letter of intent to form a joint venture for the development of gold assets in Finland, including the Rantalsami property. Under the terms of agreement, REBgold can earn a 50% interest in these gold assets by spending $6 million and can increase its interest by completing a feasibility study. REBgold shares added as much as 40% at 10.5 cents.
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