Stockhouse Canadian Small and Micro-cap Stock Report for Friday, May 13, 2011
TORONTO (SHfn) – St Andrew Goldfields (TSX: T.SAS, Stock Forum) shares climbed as much as 12% to $1.12 on Friday after the miner reported that the Ontario Court of Appeal has unanimously dismissed the appeal of Newmont Canada Limited from the original decision of the Superior Court of Justice (Ontario), which was in favour of the company. The original decision, received in July 2009, upheld the company's position that its obligation in respect of a royalty agreement entered into by Newmont and Barrick Gold Corporation, on the Holt property is limited to a flat rate 0.013 percent net smelter return royalty on production from the Holt property.
As well, shares of Ginguro Exploration (TSX: V.GEG, Stock Forum) moved up 15% to 19.5 cents as the junior explorer said it has received all permits required in order to start diamond drilling of its El Alto Iron-Oxide-Copper-Gold property in Chile. Ginguro will immediately begin road construction and will start diamond drilling in mid-June.
AndeanGold (TSX: V.AAU, Stock Forum) shares surged 32% to 25 cents after the gold junior reported that it has received the assay results for the first three drill holes from the Phase I infill drilling program at its gold-silver Urumalqui exploration project in Peru, which included 352.75 grams/tonne gold equivalent over 2.76 metres.
Poynt Corporation (TSX: V.PYN, Stock Forum), meanwhile, announced issuance of a fourth patent in the company's portfolio of patents, for delivering multi-mode location based E-directory services, enabling method, system and apparatus. Poynt stock popped 17% to 17.5 cents.
And, Noveko International(TSX: T.EKO, Stock Forum) Friday reported that the Building Owners and Managers Association has granted its Noveko Filtration division the prestigious PINNACLE INNOVATION AWARD in the BOMA AWARDS 2011-2012. Noveko shares added as much as 13% at 54 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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