Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, April 6, 2011
TORONTO (SHfn) – Northern Lion Gold (TSX: V.NL, Stock Forum) shares surged 34% to 47 cents on Wednesday after the micro cap explorer reported preliminary gold assays from the first hole to test the St. Nikolas project in the Republic of Cyprus, which included 4.5 grams per tonne (g/t) gold over 28.6 metres starting at 10 metres below surface.
As well, shares of Peak Energy Services (TSX: T.PES, Stock Forum) gained 26% to 93 cents as the diversified energy services organization said it has signed a definitive acquisition agreement pursuant to which Clean Harbors, Inc. has agreed to acquire all of the issued and outstanding common shares of Peak for cash consideration of 95 cents per share, or a total consideration of approximately $200.5 million.
Bellhaven Copper & Gold (TSX: V.BHV, Stock Forum), meanwhile, announced that DDH-19, the most recent drill hole targeting the La Cantera prospect in Colombia, delivered a second consecutive intercept in excess of 200 metres, including 230 metres containing 0.99 g/t gold and 0.30% copper (1.50 g/t gold equivalent). Bellhaven stock popped 10% to 75 cents.
Shares of Viridis Energy (TSX: V.VRD, Stock Forum) powered 36% higher to 42 cents after the softwood pellets provider said it has entered into a Letter of Intent with Heracles International Investment, Inc. to supply palm kernel shell (PKS), a natural pellet used for heating and co-firing with coal. The Letter of Intent specifies an "off-take" agreement that contractually will obligate Heracles to initially purchase a minimum of 40,000 tonnes, or about $2.8 million of PKS per month from Viridis.
And, Bravo Gold (TSX: V.BVG, Stock Forum) Wednesday reported that Roscoe Postle Associates have completed their resource update for the Homestake Silver deposit in British Columbia, which showed an approximate 100% increase over the previously estimated 2010 mineral resource estimate for the Homestake Silver deposit to 346,000 ounces gold and 11.6 million ounces silver. Bravo shares rose 40% to 10.5 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